Unknowingly, the Binance Alpha airdrop has reached its 100th edition, accompanying everyone for nearly four months. I made a profit of 1.28 million yuan from Binance's Alpha activities, not much but guaranteed.
Some may ask, how did you earn so much with just one account? Actually, I only play with one account, and all the airdrops combined made me about 10,000 yuan. The remaining 1.27 million was actually earned on $PROVE . Perhaps some might wonder, 'how did you earn it?' In fact, among all the Alpha airdrops, PROVE is the only one where I made money in the secondary market.
As we all know, PROVE was airdropped to eligible Alpha users at 11 AM on August 5 and was listed on Binance spot at 1 AM on August 6. I stayed up until 1 AM for the opening. When its price dropped to around $0.7, I opened a long position of 100,000 yuan with 5x leverage, totaling 500,000. By noon the next day, it first listed on the second-largest exchange in South Korea and then announced listing on Upbit, the largest exchange. By then, the price had reached around $1.8, and I immediately closed all positions, calculating a profit of about 1.27 million yuan. Why did I dare to bet on it? It was because I did a lot of research, especially with a Korean brother I know giving me confidence (he shared some info with me, heh heh~~). Now I’m sharing my research with everyone.
What does Succinct Labs do?
@Succinct is a blockchain project focused on zero-knowledge proof (ZKP) technology, simply put, helping blockchains run faster and more privately. They developed the SP1 zkVM, a tool that allows developers to easily create ZK proofs using Rust, applicable in Ethereum L2, cross-chain bridges, DeFi, privacy authentication, and other fields. Their decentralized proof network allows multiple protocols (like Polygon and Celestia) to pay proof fees using PROVE tokens, with over $4 billion locked.
What advantages does Succinct Labs have?
1. Strong Technology: Succinct's SP1 allows developers to easily handle ZK proofs using Rust. This technology is considered an important direction for blockchain scalability, especially for optimizing platforms like Ethereum. It has provided services for over 35 protocols including Polygon and Celestia, locking in total value exceeding $4 billion, indicating its technology has a certain level of recognition in the industry.
2. Strong Financing Background: Succinct Labs has secured $55 million in seed and Series A funding, with notable investors including Paradigm and Polygon.
3. Wide Application Scenarios: SP1 supports writing zero-knowledge proofs in Rust, lowering the development threshold, suitable for various scenarios such as zkEVM, Rollups, privacy authentication, and machine learning.
Circulating Market Cap Analysis
Current Price: Approximately $1.5, with a 24-hour fluctuation range of $1.40-$1.69.
Circulating Supply: 195 million PROVE (total supply 1 billion, circulating ratio 19.5%).
Market Capitalization: Approximately $286-$288 million (based on prices of $1.47-$1.5).
Fully Diluted Valuation (FDV): Approximately $1.468-$1.5 billion (based on current price and maximum supply).
Trading Volume: 24-hour trading volume is approximately $550-839 million, with a trading volume/market cap ratio as high as 190%-652%, indicating extremely high market activity and ample liquidity.
Is it possible to bottom-fish?
Current Price ($1.5): Close to historical high ($1.92), with potential short-term adjustment risks. Technical analysis indicates key support levels at $0.7743-$0.8952. If the price retraces to this range (e.g., $0.89 or below), it will be a safer bottom-fishing point.
Short-term Opportunity: High trading volume ($550-839 million) and whale accumulation indicate strong market momentum. If the price breaks the resistance level of $1.69, consider buying high, but set stop-loss to control risk.
Bottom-fishing Strategy:
Initial Positioning: If the price retraces to $1.20-$1.25 (50-day moving average, Bollinger Band midline), invest 30%-40% of the position.
Secondary Positioning: If it drops to $0.77-$0.89 (key support level), increase position by 40%-50%.
Reserve Position: If it drops below $0.77 to $0.595, invest the remaining position to lower the average cost.
Short-term breakthrough at $1.69 can be bought high, target $1.85-$2.00; medium-term bullish to $2.40 (2026); long-term, as ZK technology becomes increasingly popular, if Succinct secures a few more major partnerships, $2.4-$4 in 2026 is not a dream! But beware of competition and regulatory risks.
Low circulation ratio, high trading volume, MACD golden cross, and whale accumulation support bottom-fishing opportunities, but beware of high volatility and airdrop unlocking selling pressure.
Disclaimer: This article is personal analysis and does not constitute investment advice. Investment carries risks; proceed with caution! DYOR!
