October 15, 2024
Yesterday, Puffer launched TGE, but it was quite disappointing. First of all, Puffer, which has been supported by various capitals and has excellent popularity and lock-up data, was not listed on Binance Launchpool. It is estimated that the chips were not negotiated, because BN generally requires more tokens for airdrops. Without listing on Binance, the market seems particularly deserted. Another thing that makes the market dissatisfied is that there are not many airdropped tokens. I counted my own, and I only got a few hundred with an average of 10,000 US dollars of pufETH, which is less than a point of profit.
The current market is actually quite simple. Whoever can get listed on BN can open with a high FDV. Otherwise, there is no heat at all, and even the OK market is not very enthusiastic. Not to mention those CX communities, even VCs regard listing on BN as the best exit target. This market has actually deviated from decentralization, and it is becoming increasingly difficult for grassroots projects to rise. Perhaps this is why retail investors fight back by focusing on Meme, but objectively Meme is not fun either. The story of getting rich quickly by picking one out of a hundred is at the expense of the capital of 99% of people.
As for the market, although it has risen in the past two days, it has not led to a rebound in the overall market sentiment. Projects like Puffer, which have locked up more than one billion US dollars, have not received much attention from the market. In terms of price, Bitcoin is still in the range of fluctuations, but it is just at the pressure level now, with signs of breakthrough. If the breakthrough fails, it will still be a volatile trend. However, looking at this trend, I think it may end with a false breakthrough in the short term, such as going to 67,000-68,000 first, making the market think that it has broken through and then continue to fall back.
It is worth noting that the recent trend of Ethereum is still good. My suggestion is that if there are still altcoins that can be reduced at the pressure level, switch to ETH as a long-term chip (because the overall market has entered a relatively undervalued range, and the cost of converting profits to ETH is also low. I no longer have any positions to reduce at this position. The remaining 60% will be strictly implemented after the breakthrough and then find the next pressure level to reduce holdings. This time it did not fall below 60,000, and I did not succeed in getting on the train. I can only wait for the next time. Anyway, in this market, there will be repeated fluctuations.
Thank you for your attention and likes.
