One is down sharply, one is up sharply, and one is also falling back. What we see first is divergence, not the cause. Binance spot, rolling 24-hour figures: $EPIC -21.90% (rolling 24 hours), $PROM +17.83% (rolling 24 hours), $QUICK -8.54% (rolling 24 hours). Price movements cannot prove that anyone is manipulating the market, nor do they show that something is wrong with a project’s fundamentals.
What I most want to verify is whether spot buy and sell orders can absorb these fluctuations. For now, there’s no evidence on order book depth, concentration of holdings, or fund flows; trading volume can’t stand in for order book depth either. So “liquidity is worsening” is currently a concern, not a conclusion. PROM’s rise may be supported by sustained demand, while EPIC and QUICK’s declines may simply be short-term volatility.
I may also be putting too much weight on price. If we later see sustained spot demand, along with verifiable changes in the order book and holdings, I’ll revise my assessment. Until then, neither gains nor losses can substitute for evidence.#风险观察 #逆向 #SpotWatch
What I most want to verify is whether spot buy and sell orders can absorb these fluctuations. For now, there’s no evidence on order book depth, concentration of holdings, or fund flows; trading volume can’t stand in for order book depth either. So “liquidity is worsening” is currently a concern, not a conclusion. PROM’s rise may be supported by sustained demand, while EPIC and QUICK’s declines may simply be short-term volatility.
I may also be putting too much weight on price. If we later see sustained spot demand, along with verifiable changes in the order book and holdings, I’ll revise my assessment. Until then, neither gains nor losses can substitute for evidence.#风险观察 #逆向 #SpotWatch