July 10, 2025

The sales situation of PUMP has been made public, and this time there is neither Binance nor OKEx, only some second-tier exchanges. It is reported that negotiations did not reach an agreement, and both Binance and OKEx are also concerned about the compliance situation of PUMP, hence no sales took place on these two platforms. According to the current public sales data, the public offering price is $0.004, with a total of 1 trillion coins, 15% sold to retail investors, which means it requires $600 million in real money, quite ruthless.

PUMP is definitely a super successful project, but with a valuation of $4 billion, it is hard to assess based on the project's past characteristics. Over the past year, PUMP has generated more than $750 million in revenue, but it has all gone into its own pockets, leaving nothing for the protocol. This public sale is only targeted at Chinese people; in my opinion, it feels a bit like treating us like Japanese people. In any case, I will not participate in the public offering, regardless of whether it is profitable or not. Projects that do not give back to the crypto community should be boycotted.

Another major project is WLFI, a DeFi project led by Trump's son, with an unclear launch date but expected to go live this month. One thing I actually despise is that many crypto projects now have inflated valuations at launch, which completely contradicts the essence of crypto projects. In the past, they would open at low market values and then give users a chance to share in the growth dividends. Now, they inflate the project first and then sell coins at high valuations, leaving retail investors to take the fall. Doesn’t this just become like stocks? But how many of these crypto projects can match the vitality of large real-world companies?

Returning to the market situation, Bitcoin has broken through 110,000, but it cannot yet be confirmed as a breakthrough. If it can maintain above 110,000 for three days, it can basically be regarded as a breakthrough; otherwise, the probability of a false breakthrough is still quite high. Another good news is that Ethereum remains a strong representative, so after Bitcoin's breakthrough, Ethereum continues to surge, and the altcoin market in the second half of the year still holds promise. Overall, the probability of this breakthrough is already quite high, just wait a few more days.

Thank you for your attention.