Encryption | On-chain volatility | September 23
The overall market really doesn’t look that interesting—86130 is basically flat on a straight line, and $SOL 117.9 is barely in the green. But on-chain today has absolutely not been quiet.
First, let’s talk about the most outrageous one on the spot top gainers list—TAKE is up +188% today. It looks explosive, but the trading volume is only 1.1 million U. Honestly, seeing this makes my heart tighten: a classic volume-price divergence. Half the move is just a low-volume pump, and half of it is likely a data anomaly—anyway, I’m not touching it.
More worth mentioning is AKE: it’s +561% over the past 7 days, but today alone it crashed -23%. I’ve seen this kind of chart after a long bull run followed by a sharp drop countless times—most of the time, big money is pulling up while withdrawing, with chips shifting from institutions to retail. What you end up catching is basically a flying knife.
On-chain DEXs today, both Base-chain TSG and the BSC-chain “panda head” triggered price_surge. Their market caps are around 1 million U. With liquidity being terrible for these just-started small caps, even if they run hard, they can just as easily get stabbed back at any moment. I don’t recommend chasing.
In the large-holder monitoring, CCNN1Wcqyh had an enormous 24-hour anomaly of +6871%. This kind of data is either an opportunity or a quotation/data issue. Newcomers should just steer clear.
My stance is very clear: stay on the sidelines. BTC has no clear direction, and low-quality “shitcoins” are running wild—that’s just existing capital constantly cutting each other up. If you’re heavily positioned, reduce a bit. Let the big Bitcoin eventually pick a direction first.
Have you guys stepped into a trap lately? Chat in the comments.
The Shennong Notes team will continue to deliver coin-market analysis based on data, helping everyone avoid trading based on feelings. If you’re interested, please follow us! The team updates every day!
The overall market really doesn’t look that interesting—86130 is basically flat on a straight line, and $SOL 117.9 is barely in the green. But on-chain today has absolutely not been quiet.
First, let’s talk about the most outrageous one on the spot top gainers list—TAKE is up +188% today. It looks explosive, but the trading volume is only 1.1 million U. Honestly, seeing this makes my heart tighten: a classic volume-price divergence. Half the move is just a low-volume pump, and half of it is likely a data anomaly—anyway, I’m not touching it.
More worth mentioning is AKE: it’s +561% over the past 7 days, but today alone it crashed -23%. I’ve seen this kind of chart after a long bull run followed by a sharp drop countless times—most of the time, big money is pulling up while withdrawing, with chips shifting from institutions to retail. What you end up catching is basically a flying knife.
On-chain DEXs today, both Base-chain TSG and the BSC-chain “panda head” triggered price_surge. Their market caps are around 1 million U. With liquidity being terrible for these just-started small caps, even if they run hard, they can just as easily get stabbed back at any moment. I don’t recommend chasing.
In the large-holder monitoring, CCNN1Wcqyh had an enormous 24-hour anomaly of +6871%. This kind of data is either an opportunity or a quotation/data issue. Newcomers should just steer clear.
My stance is very clear: stay on the sidelines. BTC has no clear direction, and low-quality “shitcoins” are running wild—that’s just existing capital constantly cutting each other up. If you’re heavily positioned, reduce a bit. Let the big Bitcoin eventually pick a direction first.
Have you guys stepped into a trap lately? Chat in the comments.
The Shennong Notes team will continue to deliver coin-market analysis based on data, helping everyone avoid trading based on feelings. If you’re interested, please follow us! The team updates every day!