My bullishness on CAKE started a year and a half ago. Back then, I was obsessed with DeFi and noticed CAKE—a coin on a crappy public chain with a market cap of $1 billion. However, based on financial analysis, I figured it was only worth $100 million, likely due to the Binance name. So, I passed on it and switched to AAVE, which was trading at just over $60 (it looked promising in every way).

Later, CZ talked about developing a public chain and alpha features, but I didn't take it seriously. But when I heard about launching perpetual stock contracts, I was intrigued: With the three major players trading over $50 billion daily, and CAKE as a fee entry point, this business was a surefire winner! Add in the leverage, and the potential was huge. So, I announced my predictions at 2.3, but many people weren't optimistic, so I sold it at 2.85 (it rose to 3.3 before retreating).

Later, when the stock contracts were actually launched, I started buying again at 2.6. After considering dynamic factors such as capital flows and financial changes, I believe it can reach 100U in the long term. Although the current financial data cannot support a market capitalization of 30 billion, the market is dynamic and these things will gradually change. I am optimistic about CAKE because I have seen through these changes. #BTC重返12万 关注朱雀趋势