《Atypical Bull Market》

According to Shenyu's theory, make different asset allocations at different asset levels, while taking into account stability and explosive power. (I also do this)

Successful cases in atypical bull market: #SUI #BNB #BGB I think #SOL cannot be calculated conventionally. If it weren't for FTX's crash, the price of SOL would not have fallen to such a low price, so SOL's excess return is the result of the "black swan" event.

Wrong case:#ARB#OP LST track and other Ethereum ecosystems....#APT#DOT#AVAXand other public chains did not outperform #BTC.

If an atypical bull market is established and BTC is decoupled from other assets, then new projects will have to be repriced and valued in the future. If the market cannot reward innovators and risk-takers, the dividend effect will disappear.

On the chain alone: ​​The prosperity of the chain is a concrete manifestation of insufficient liquidity. It is obviously possible to reach tens of billions, but the speed of passing 100M or even 1B on the chain may be the ceiling. It seems that there is a wealth effect, but in fact it is a manifestation of diminishing wealth effect. (After all, the users that can be reached on the chain and the ease of operation need to be improved)