#pons fell, and it dropped to around 0.4. I added a little to my head position, and it was completely bought using the small portion of profits from before. But I feel like it still might drop a bit more. This whole chain’s total revenue has also come down—have you noticed this round?
Basically, it’s all about decentralized exchanges competing for market share. Everyone is “competing” by doing buybacks—competing over who gets more trading fees. But when everyone stops trading and no one generates fees, then what should fall still needs to fall.
Overall, though, I still think it’s worth continuing to watch. The new things that came out this round didn’t have a very strong hype/attention level. Next round, when Bitcoin rises, it could still rise too. But whether those “bull” narratives/products will also happen is not certain.
Personal opinion.
Basically, it’s all about decentralized exchanges competing for market share. Everyone is “competing” by doing buybacks—competing over who gets more trading fees. But when everyone stops trading and no one generates fees, then what should fall still needs to fall.
Overall, though, I still think it’s worth continuing to watch. The new things that came out this round didn’t have a very strong hype/attention level. Next round, when Bitcoin rises, it could still rise too. But whether those “bull” narratives/products will also happen is not certain.
Personal opinion.
