$BTC Wow, how is the trading volume of the three giants only three billion? Bitcoin, the big brother, is actually performing the worst! This calm is a bit strange, the calm before the storm, undercurrents are surging, it feels like something big is coming!
Recently, X's tweets criticizing Kaito have gone viral, making it seem like the anti-Kaito alliance is holding a conference. Isn't Kaito just a win-win situation? The miners make some small money, Kaito gets the data, and the project party gains popularity, everyone is happy! Isn't this better than the crypto circle where they shout for orders and cut the leeks every day? I'm not a fan of Kaito's articles either; the headlines are clickbait, and the AI vibe is so strong it’s suffocating, I want to scroll away after a glance. But just because I don’t like it doesn’t mean I can’t just block or mute it, right? Why form a group to criticize and act like moral guardians of the crypto circle, is it really necessary? And the 'anti-Kaito alliance'—laughable. The crypto circle itself is a 'freak' that is dissed by the mainstream. Here we are infighting, arguing about who is more 'low'? The world is so big, Kaito can write whatever he wants, and miners can take whatever they want; existence itself is reasonable. We in the crypto circle shout 'decentralization' every day, yet still care about what others are eating? Relax, less FUD, more memes, and life can be sweet, right? 😎 What do you think, brothers criticizing Kaito? Cool down and buy a $WCT to calm down? 😂
Let's talk about $WCT . This coin has been gaining some attention lately, especially after being listed on Binance, which has increased its popularity. I did some research and I'll share my thoughts. It is the token of #WalletConnect , a Web3 connectivity infrastructure, claiming to be the 'on-chain entry point,' supporting 45 million users and 300 million connections, backed by over 60,000 applications including Uniswap and OpenSea. On the surface, it looks like a legitimate project, but it feels like there are big players behind the scenes pushing things along, almost like a carefully planned scheme.
In terms of the community, the Telegram group isn’t very lively; the chat is mostly filled with tech enthusiasts and speculators, lacking any FOMO or FUD. However, there are some KOLs on X who are leading the narrative, calling it the 'King of Web3 Infrastructure.' Overall, the community seems to engage in rational discussions rather than the frenzy typical of meme coins. As for holdings, Binance clearly holds a significant portion, with a trading volume of about 150 million in spot trading, while only 15 million is on-chain, indicating that liquidity is all on the exchange. The top 100 addresses on-chain are mostly airdrops and early investors, and from the perspective of someone who has seen pump-and-dump schemes, it smells faintly of wash trading.
Looking back at the price trends, it isn’t just the big players manipulating the market; it follows a quant strategy. After being listed on CEEX in April, it surged by 70%, hitting a peak of $1.39, and has now pulled back to around $0.3. The quant strategy is quite clear: the front runners do not sell off hastily, gradually cashing out while retail investors chase the highs. Sometimes, when there is an unexpected price surge, it is mostly the shorts closing positions causing a fake rebound. Recently, shorts have been getting caught in traps set by altcoins; they just exit when profits show up, and the market is filled with short-term players, with diamond hands on both sides losing at the peaks or valleys.
Want to see it drop? Don’t open orders too frequently; if trading volume decreases, without a range, the quant strategy could collapse. There likely aren’t many who are bullish at these low levels; it takes some faith to dare to chase. The wash trading hasn’t fully played out yet, so there might be another wave of increase in the short term; it’s best to monitor the movements of the on-chain whales before deciding. What do you think?