Capital Games under the DEX Narrative
The rise of THE came suddenly; this doesn’t feel like value discovery, but rather a meticulously planned liquidity game.
A closer look at on-chain data reveals traces of major players controlling the market. Those who followed the trend to buy may not even understand what Thena does, yet they have already become pawns in the capital chess game.
Now, taking off again with the tailwind of the DEX track, but the concentration of holdings is as alarming as a warning bell. When the story of liquidity mining meets unusually active trading volume, the question should not be 'how much more can it rise,' but rather 'who is quietly exiting the stage?'
In this market, the most dangerous moment is often when everyone starts to believe in a particular narrative. The short-term frenzy of THE may continue,
but smart money always knows that when the music stops, one must ensure they are not the last one standing.
If you’re feeling a bit lost or need more guidance, feel free to reach out to me anytime; I will provide a detailed analysis for you!
