Today’s lunch:

It can be seen from the data last Friday that the trading volume of ETFs has indeed stabilized, and there is no longer the freshness at the beginning. Grayscale has now issued 110,000 units, and BlackRock and Fidelity are still The two largest management institutions have a fund management scale of about 2 billion U.S. dollars. If they want to take over all of Grayscale, it is estimated that they will have to at least double it. Judging from the current growth rate, at least It will take more than 3 weeks to pick it up. Therefore, the real funds have not come in yet, and the stock is currently changing hands.

​

In the past two days over the weekend, under the leadership of SATS, Inscription had another rebound. Although it seems that SATS has the highest rebound, ORDI is actually the bigger brother. Because it has fallen less, SATS has already exceeded 50% from its high point. ORDI It hasn’t been cut in half yet. I really don’t want to mention B AN’s WEB3 wallet anymore. The story of “crying wolf” is no longer convincing. It’s all the community and KOL who are trying to justify themselves. Large Inscriptions are supported by the liquidity of big exchanges. They can repeatedly rely on selling high and buying low to reduce costs. You may still be able to look forward to the future through trading and holding positions, but Small Inscriptions may give you the last chance to escape. Take a look at your own hands. Are there any messy inscriptions inside?

Jupiter, the Solana ecological aggregator, has become very popular recently. It has continuously issued MEME, first with mock, and then with WEN. After the project is completed, it claims that it will issue JUP on January 31st. It is difficult not to think that it is for its own tokens. Attract funds. Jupiter is currently a commonly used AMM protocol in the Solana ecosystem. If the tokens are successfully issued and listed on major exchanges, it may become popular. In fact, the main thing here is to talk about the follow-up of SOLANA. The current market value is almost catching up with BNB. Will the real third largest public chain catch up with its second brother in the next bull market? If the second brother doesn't want to make progress, it is not impossible to catch up in this currency circle where he is swimming against the current.

————————————————————————————————

Market interpretation

It was said last Friday that it is more likely to become a "bottom". There was a rebound on Friday. This can be regarded as an effective rebound. The current position is exactly where it can continue to rebound, that is, this 42500 In the past, the probability of continuing to rebound would increase, and it could not be called a reversal until it broke through 43,500.The real market trend still depends on the movements of US stocks at night after they open. Is there a possibility of a direct reversal to new highs? From a purely market structure point of view, I think the time is not enough, that is, after eight consecutive positives on the weekly chart, it needs to step back on the middle track at least once before it can start a larger level of rise. I don’t think the real opportunity to buy the dip has come yet.

I don’t want to mention Erpie. Recently, some small coins that were strong in the early stage are still performing well, such as SOL INJ AVAX TIA SUI, etc. It can be seen that the L1 public chain is still the main line logic and is an indispensable layout object from all aspects.

Today’s fear and greed index: 55 (neutral)

As of January 25 (US time) ETF position data: the total net outflow was 1,434, and Grayscale had an outflow of 9,932 on the same day.