The recent peak of BNB indeed aligns with the logic we analyzed before. It was quite unexpected that SOL has replaced XRP as another strong asset. Especially on the UPXI side, it is said that the first batch of investors did not lock their positions, and quite a few chose to sell, which is quite subtle.

Today I also saw some people hyping up Galaxy and Pantara, speaking highly of them. But in my opinion, this is actually an indicator of short-term emotional highs. I carefully reviewed the S-1 document, and it turns out that Galaxy's earnings are not as exaggerated as the outside world claims, and Pantara's holdings are far less significant than rumored. In this situation, it's clear that a bubble has already formed.

So where are the opportunities next? I believe it lies in small coins, especially those Meme projects moving towards 'coinification'. There are indeed quite a few projects and market makers in the market wanting to do this. This model is relatively fair, at least you can see from on-chain data and project information who the real builders are and who are just here to take a quick profit.