$牛来 It could be said that it demonstrates the washout-and-distribution quite vividly.
After yesterday it was announced that seed tag spot trading is about to go live, a single needle-like move stretched by 60%, drawing in a large amount of retail trader chips into the market. Even last night, someone asked me if they could buy ALPHA. Hahaha, when I saw that question, I really couldn’t help but feel a bit overwhelmed. If you know what happened in last year’s Ai16z wave, you should also know: it’s the same old story, just with a different outfit.
With the market looking like this right now, no matter how strong the contract hype is—once spot trading comes, in 10 projects, 7 will drop. And it’s still Chinese Meme trading, relying purely on hype. Last night was basically trading expectations; in the short term, most of the low-position chips have already been sold for profit and exited. So a pattern of opening strong and then falling is completely normal.
Back then, the on-chain activity had already risen by tens of thousands of percent. You tell me: is there much room for a “benefit-to-others” effect? Once it’s already in the secondary market, there’s no space left. To put it plainly, it’s like—there’s a road-side saying:
The ones buying are all just the grass that gets harvested.
#牛来
After yesterday it was announced that seed tag spot trading is about to go live, a single needle-like move stretched by 60%, drawing in a large amount of retail trader chips into the market. Even last night, someone asked me if they could buy ALPHA. Hahaha, when I saw that question, I really couldn’t help but feel a bit overwhelmed. If you know what happened in last year’s Ai16z wave, you should also know: it’s the same old story, just with a different outfit.
With the market looking like this right now, no matter how strong the contract hype is—once spot trading comes, in 10 projects, 7 will drop. And it’s still Chinese Meme trading, relying purely on hype. Last night was basically trading expectations; in the short term, most of the low-position chips have already been sold for profit and exited. So a pattern of opening strong and then falling is completely normal.
Back then, the on-chain activity had already risen by tens of thousands of percent. You tell me: is there much room for a “benefit-to-others” effect? Once it’s already in the secondary market, there’s no space left. To put it plainly, it’s like—there’s a road-side saying:
The ones buying are all just the grass that gets harvested.
#牛来