August 31, 2026

These days, on-chain activity has been quite hot—especially on the robinhood chain. With momentum from the meme market, both TVL and trading volume have jumped directly to the top tier among public chains. And because meme coins can only be traded on DEXs, this has directly driven the burning of UNI tokens, pushing up the UNI price. In fact, here’s a piece of data that most people don’t know: the share of total DeFi trading volume compared with before has increased a lot. According to some data, the recent peak share reached as high as 24%, whereas last year that figure was under 20%. In the earlier years, it was even in the single digits.

The increase in DeFi’s share of trading volume is essentially a reflection of the ongoing growth of the entire crypto market. Of course, this remains a trend: since the crypto industry is built on blockchain technology centered around decentralized trading, supported by the widespread adoption of wallets and investor education, along with further improvements to DeFi infrastructure, more users will inevitably choose to complete their trades through DeFi. It’s foreseeable that the trading volumes of both CEXs and DEXs will continue to rise, and the share of DEXs will further increase as well—then fluctuate within a certain range. DeFi’s advantages in this bid to capture a slice of the stock-trading market are very evident. Combined with the 24/7 trading nature of crypto exchanges, stock trading continues to grow stronger too.

What baffles me, though, is that whether it’s been during the earlier bull market or this current wave of the Robinhood chain boom, the catalyst always seems to involve the shadow of meme coins—like yesterday’s “Bull Coming” meme that was listed on Binance. From a value-investing perspective, it’s hard to understand. Maybe this is a cognitive bias, because there really are cases where people have accumulated enormous wealth in the short term through meme coins. No matter how much I may look down on it, that only proves that I’m not suited to meme-coin markets. It’s similar to how I can’t understand why so many people pay fees to contribute to PUMP, and yet all these things are happening in real life in the crypto space.

In terms of the market, these past few days have been relatively “quiet.” One important reason is that the rise has been too fast—it needs enough time to digest. And I’ve repeatedly emphasized that, given the current time frame, it’s impossible that this is going to be one continuous uptrend big bull market. The most likely scenario for the next move is consolidation plus choppy trading. My current strategy is to use part of my position to place grid sell orders, and it’s already starting to show results. Especially for altcoins: after they surged upward for a long time, they ran into significant resistance. With Bitcoin being capped at around 80,000, some coins have already seen a relatively large pullback. Of course, the good news is that Bitcoin’s price has held up well for a long time, so the altcoins’ declines are not something to take too seriously for now—especially in the context of swing trading. Slowly buy back to capture the spread and profit; I expect there will still be opportunities to sell in the days ahead.

Thanks for your attention and likes.