Some say it's because Tom Lee called it, and Wall Street and other institutions have come in to make up for past failures on LUNA and FTX.
Others say this round of RWA has far surpassed the previous DeFi summer, bringing in billions in capital. ETH is the infrastructure.
But I believe the reason for ETH's rise is that Bitcoin has reached its peak!
Why do I say Bitcoin has peaked?
1. First, the price of Bitcoin is $$BTC 11.6 million. The fundamental value of Bitcoin has always been its mining cost. This price makes all miners completely bearish. For them, mining costs 60-70k, but selling at 116k is simply too appealing.
2. In terms of market dynamics, various positive factors keep coming, but the price doesn't rise. There is only one reason: the selling power is greater than the buying power. To absorb the $5000 selling pressure from miners each day is one aspect, but it also indicates that there is even greater selling force, just currently no one knows who it is.
Bitcoin currently has limited upward potential; it just needs to stabilize. Like a flag in a war, it needs to stand firm on the battlefield, showing everyone that the flag is still there.
It's time to perform; other coins should hurry. First and foremost is Ethereum. Bitcoin is doing well as a super large application for value storage, while Ethereum handles various things that symbolize "civilization."
This brother is incredible, turning 21u into nearly 100,000u in a week.
After watching his operations, there are a few main points:
1. The first profit came from going long on #MYX , making a profit of 383 USD, allowing his capital to grow from 21u to 400 USD.
2. He continued to go long during the myx pullback, using 127u instead of 400 USD. You can see his capital management system is not just mindless gambling. You can also see his predicament; he may indeed need funds and wants to preserve the previous profits. This time he made a profit of 1353 USD.
3. In the meantime, he opened some other cryptocurrencies, incurring slight losses, and decisively cut losses.
4. He returned to myx, this time using 533 USD margin, building a position at myx0.41, and closing it at 0.75 for a profit of 8187 USD.
5. Along the way, he continued trading other coins, incurring slight losses.
6. During the myx pullback at 0.65, he continued to go long, gradually increasing his position, using a maximum of 1000 USD margin, and closing at 1.01 for a profit of 10,000 USD.
The subsequent operations were all about gradually adding positions, using margin not exceeding 1000 USD. Currently, one order $MEMEFI actively reducing leverage.
Most of the profits basically came from myx and memefi; you can see throughout the process his restraint in capital management, gradually increasing positions, and reducing leverage after capital has escalated, among other strategies.
Of course, the most important thing is sensitivity to the market, trading the hottest coins. $MYX
Pump has been secretly withholding its token issuance, rumored to be publicly sold at a valuation of 4 billion for 15%.
In fact, many people say this valuation is high; initially, I didn't think it was expensive. Instead, I felt that with a 4 billion valuation, it would be easy to double the price at the opening.
However, this token has been holding back on issuing tokens until #bonk recently started gaining momentum, and various metrics have already surpassed pump.
According to Jupiter's data, bonk's meme market share has reached 48%, while pump has dropped to 40%.
However, the market cap of $BONK is only 2 billion, making pump, which initially didn't seem expensive, look a bit pricey by comparison. What do you think?
Spent 9000 USD in a month, profit of 5.1 million USD.
In recent days, the new launch platform #MEME has been extremely popular, and its platform token has skyrocketed. Some are happy while others are worried.
Major public addresses: 1. pow profit of 4 million USD 2. dnf profit of 1.3 million USD 3. a god profit of 1 million USD 4. Wang Xiaoer lost 10,000 USD 5. Group member lost 60,000 USD 6. Brother J lost 300,000 USD
But the address currently ranked first is quite remarkable, having gradually bought in 9000 USD 32 days ago, and has not sold since, currently profiting 5.1 million USD.
Looking at his entire transaction history, he only traded 8 dirt dogs, with the highest loss being 3000 USD and the lowest loss being 1.8 USD.
The only coin he made money from is one coin, making a profit of 5.1 million USD.
It's unbelievable, a post-00s tech guy and his friend, with 2 people and 3 accounts, used #VOXEL to rake in 43 million USD from a certain institution. They withdrew 10 million USD.
Now, the institution denies the market data and public transactions, accusing them of improper gains and will seek to recover the losses.
The two parties are at a standstill, who do you support?
This wave of Bitcoin is about to rise again to 100,000+, estimated to reach the peak of this bull market in about six months.
Next, we’re entering the most exciting moments, charging towards 150,000.
In six months, this is the last opportunity for ordinary people!!!
Bitcoin is a flag that will surge to 150,000, many altcoins will fail, and the tail-end memes will also be very exciting. There are two opportunities: one is Bitcoin, which is an opportunity for big funds, and the other is meme coins, which is an opportunity for ordinary people!