How to Find Strong Coins in a Bull Market?
Yesterday, I said that the second wave of correction is a good thing—it gives you the chance to get on board with strong coins.
From my watchlist, here are some comments on strong coins:
1.$HYPE keeps setting new highs and has been consistently doing large-scale buybacks every day. Overall protocol fees have recently fallen out of the top three “money-printing machines” in the crypto world, but protocol revenue is still on the list.
The current risk is that the market has priced in and unlocked it sufficiently. So it’s still good, but it’s not my first choice anymore.
2.$UNI has recently benefited from RobinHood’s boom—income has surged. The highest single-day buyback and burn exceeded one million USD, and lately it has remained stable at more than $500k.
The biggest risk so far: on the RobinHood chain, pons contributes more than half of the buyback and burn amount. Rumor has it that pons is doing swaps—then that means more than half of the profits suddenly disappear.
3.$PUMP is a love-hate situation for me. I love that the team is young, energetic, and bold enough to think and innovate. I don’t like that they aren’t very transparent.
4. PONS has been dropping sharply these past two days, but judging from various data, it’s still very solid. The buyback-and-burn ratio has broken through 30%. However, new listings on Solana have been somewhat disruptive, so there has been a pullback these two days—but now I believe the pullback is already over.
5. ENA: Recently, there have been four major ecosystem updates and it has entered stock perpetual contracts. The latter is especially compelling—the stock valuation is about 50 times larger than the crypto market cap. The market size is bigger, so I strongly recommend paying attention to it!
Yesterday, I said that the second wave of correction is a good thing—it gives you the chance to get on board with strong coins.
From my watchlist, here are some comments on strong coins:
1.$HYPE keeps setting new highs and has been consistently doing large-scale buybacks every day. Overall protocol fees have recently fallen out of the top three “money-printing machines” in the crypto world, but protocol revenue is still on the list.
The current risk is that the market has priced in and unlocked it sufficiently. So it’s still good, but it’s not my first choice anymore.
2.$UNI has recently benefited from RobinHood’s boom—income has surged. The highest single-day buyback and burn exceeded one million USD, and lately it has remained stable at more than $500k.
The biggest risk so far: on the RobinHood chain, pons contributes more than half of the buyback and burn amount. Rumor has it that pons is doing swaps—then that means more than half of the profits suddenly disappear.
3.$PUMP is a love-hate situation for me. I love that the team is young, energetic, and bold enough to think and innovate. I don’t like that they aren’t very transparent.
4. PONS has been dropping sharply these past two days, but judging from various data, it’s still very solid. The buyback-and-burn ratio has broken through 30%. However, new listings on Solana have been somewhat disruptive, so there has been a pullback these two days—but now I believe the pullback is already over.
5. ENA: Recently, there have been four major ecosystem updates and it has entered stock perpetual contracts. The latter is especially compelling—the stock valuation is about 50 times larger than the crypto market cap. The market size is bigger, so I strongly recommend paying attention to it!