每日前瞻

10.26 daily preview, today we will talk about the genuine Mavericks in the bear market and the 60-day effect. Looking back on the last bear market in 2018 and 2019, and this round of 22 and 23 years (so far), the biggest difference to my senses is the duration of the market rotation. Next, I will look at it from a personal perspective Let’s simply list the history: 1. Mavericks in 2018: started in early April, using the single-day surge in bits as a signal to break the cup. Although the trigger was ultimately confirmed to be a rumor (Russia bought BTC), the market did see it The huge amount of BTC buying orders, the market's attitude of "everything comes", and a round of market rotation began. Then the narrative unfolded around Bytom (BTM), Ontology (ONT), and EOS super nodes. The performances of various copycats continued until June, and the market reached 60 days+; 2. The 2019 copycat season started on April 2 Bitcoin broke through 4200 and exploded in succession as an opportunity. Lite halved and Binance launched new services as right-hand men. Finally, it was not until Facebook released Libra in June that triggered an upsurge outside the circle that the rotation of copycats ended. It was fully calculated, and it was also 60 days+; 3. In comparison Next, April in the first half of 22 looked a lot lonely. Although it was considered a market, it was far from the positioning of the copycat season or Mavericks. The duration was too short (less than 60 days), and the overall increase was too weak. There are only a handful of out-of-the-circle projects, don’t ask, it’s just a running shoe scam GMT; 4. And in 23 years, it will be more complicated and difficult to explain. This round of Wright halving effect is a disaster, and the exchange will become a new backwater. , other well-named projects such as CFX, PEPE, OKX, etc. have scattered their firepower and have never really formed a good relay and endurance (the overall rotation is also less than 60 days); after so much nonsense, what I really want to express , since there are only two months and a few days left in 2023, it is rare to take the start of Bit as a signal again (and cooperate with the good news), let’s have a real copycat season, the recent big A No, the U.S. stock market is also cowardly. This is a good time for the main dog dealers to flex their muscles, whether it’s a show or not, get things done quickly and make the crypto world lively (two months)!

11.14 Preview Today we will talk about the new launch of HashKey in Hong Kong, as well as the entry of Boya Interactive and Linekong in Web2 games. Judging from Hashkey’s new release today (LSD leader), even though the Wanxiang Triumvirate (Shen Bo, Xiao Feng, and Vitalik) have broken up for so long, Xiao Feng’s love for the etheric system has not changed. Hong Kong regulators seem to have a looser tolerance for counterfeit products from licensed exchanges than expected (Hashkey was also listed on UNI some time ago). Under this situation, you can slowly sell out the products after a few more. It’s a new standard, and I hope there will be opportunities for ambush bands. Another thing worth paying attention to today is Boyaa Interactive's potential purchase of US$100 million, and Linekong All in Brc20. After asking around with friends in the gaming industry, there are currently three domestic game factories that are doing well in the chess and card category. They are Winger, Bok City, and Boya. Boya is currently the third player, so there is a demand for overtaking in corners through web3 or chain games. At present, the timing of its entry is not bad, at least not like Meitu Cai. Wen Sheng is so leek. At the same time, Linekong Interactive All in Brc20 is also like a whim. Wang Feng can be regarded as half an old leek. He has also been quite active on Twitter recently about crypto circles. Although Linekong has no achievements in the gaming circle and has a mediocre reputation in the industry, it has really not wielded the sickle in the currency circle. It feels like it is holding its breath. I hope they can actually make some achievements this time.

11.13 Daily preview, let’s talk about grayscale today. Since 2020, Grayscale has adopted an active "buy, buy, buy" strategy for the big pie, and for a time it became a top player and was given the nickname "Grayscale Dad". Later, during the short bull market cycle, Grayscale’s copycat trust positions also received great attention from the market. From the perspective of product selection, except for the two related households LPT and Stellar, which have some setbacks, most of the other products are acceptable in terms of liquidity and reputation. However, as the premium of GBTC turns negative, the impact of Grayscale His power plummeted, his nickname also changed from "Grayscale Dad" to the satirized "Greyhound", and Shanzhai Trust accordingly performed mediocrely for a long time. However, the situation has begun to improve as the recent ETF gimmick is about to enter a new stage. At present, the negative premiums of Bitcoin and Ethereum trusts are shrinking. From the perspective of a rat store, this is nothing. However, the positive premiums of some of Grayscale’s copycat trusts have reached astonishing levels, which is a bit short-term overheating. Even if GBTC can be successfully converted into a spot trust, the remaining problems of the big pie will still be a hot potato. Directly exporting benefits to copycat trusts may not be as simple as overnight.

11.10 Daily Preview Today, let’s talk about hot turns and Ming Deng Sun Cut. No matter what level it is, large, medium or small, after a round of market conditions, there will always be some strong-performing varieties that rise in various forms and good shape. At the same time, there are also some so-so ones that follow the trend, and even worse, the dead fish, and the market is weak. Just like looking for those varieties that are resistant to falling during each stage, the general rise stage is also the time to observe the muscle content of the dealer. In addition, you can also pay attention to the situation of the small faucet at any time to feel whether you are currently in the fish body or fish tail stage. Taking the recent period as an example, the three emerging stocks TRB, ORDI, and GAS each belong to different sectors, and also represent the three forces of Contract Village, BRC20 Xinzhuang, and Hanzhuang respectively. They have little intersection with each other and focus on an atmosphere of each playing their own game; and with The hot spots were too scattered in 2022 and in the first half of this year. It is rare to have a big market assist at present. They have shown stronger battery life than expected. So before new small leaders appear, you can really pay more attention to the costs of these three. In terms of rate and turnaround situation, if two of them stall, you can start to be cautious in your attitude toward copycats. If there are three turnarounds, you need to be wary of copycats entering the halftime break, and you may have to switch offense to defense. Looking at Sun Ge next, this should be the rare time that he has not caused much trouble since he took on the status of "Deng Deng". However, he can say that he is doing inscriptions on Tron, which in itself does not fully understand the essence of the inscription community. Due to his plagiarism and over-marketing style, Sun's reputation has always been poor. Ever since he photographed Buffett's lunch in 2019, he seems to have collapsed wherever he enters the industry. Therefore, he has been branded as the "industry lantern". This is especially obvious during the bear market rebound phase, and the bull market climax is no exception. Therefore, from the perspective of protecting the copycat season, I really hope he is just joking, otherwise the cancer halo will have to be guarded against.

11.9每日前瞻今天来聊两句FTX重启的话题，首先，不得不说SEC主席GG真的是个无耻的双标狗，对币安和FTX摆出了完全不同的两副嘴脸，很显然，之前SBF系对美国监管层的利益输送是要比想象中要大的，对老美而言，SBF可以关，但FTX这块蛋糕也想捡起来。而从这个态度转变来看，老美监管层对加密世界的窒息风向有发生变化了，这对年内ETF的冲刺是又一有力助攻。相比之下，香港则显得有些墨迹，西落东升的叙事天平再次摇摆，不过对我们而言无所谓，有新增资金就行，哪里来的都OK。 目前除了已经明牌参与竞标的三家外，也还有一些新老朋友出现，它们本着有肉不吃王八蛋的态度加入了感兴趣的队伍，其中包括纳斯达克、贝莱德、Robinhood等大号韭菜，个人是希望贝莱德能有所作为，最差也别是Ripple Labs就好，不然真坏事。最后，关于今天一日翻倍的FTT，我个人认为悠着点好，FTX新东家会如何处理FTT还是很复杂的未知数，如果是往合规方向发展（符合SEC的期望和利益），那新庄放弃FTT是完全有可能的。

11.8 Daily Preview. Today, Wednesday, let’s do a retro-style weekly update review. First of all, in terms of data, CME positions that I have not paid attention to for a while have undergone changes that cannot be ignored. First of all, dealers with the largest capital volume are still mainly short positions. They also continued to increase their short positions last Saturday. They are currently long and short. The ratio is close to 1/8; on the other hand, Changsheng General Leveraged Fund has finally begun to slowly give up on short positions and add long positions. At present, the long-short ratio of leveraged funds is gradually approaching 1/2. Next is the three-piece set of data. The first is the rate. Overall, it is quite healthy. In fact, there has only been one copycat rate in the past two weeks, and then they have learned to return to normal after a wave of minor looting. Then the long-short ratio looks very comfortable. The values ​​​​of Binance and OK have reached relatively low positions (0.81 and 0.82), and the sense of short-sightedness appears for a long time. In this case, if there is still an unbalanced The combination of the fuel storage capacity is the icing on the cake. Finally, looking at the open interest, from the U-standard perspective, it has broken through a new high for the year (Figure 1), but the currency standard is not actually particularly high. The logic of open interest was mentioned in the previous review. Try to look at the currency standard. Only novices look at its U standard, so the current accumulation of fuel is not very sufficient and explosive, which is a bit regrettable for the bulls. After reading the data, let’s look at some Schrödinger stuff, as shown in the picture. This is the current status of Bitcoin spot ETFs that have “passed but not completely passed”. The reason why I say "passed" is because, except for a good show by BlackRock some time ago, the overall market trading volume has indeed increased by real money. At least the incremental funds on Bit since 26,000 to 35,000 are not like mine. Retail investors are willing to buy, which is basically the "rat warehouse" of the big leeks (institutions or others). But why do you say "not completely passed"? Because until the SEC makes the official announcement, you know what twists and turns there will be. To be honest, the SEC is actually quite confused now. They know that they must pass and many companies need to be released one after another, but they don't want to Seeing that the encryption world is so excited ahead of time, it is quite interesting to see the approval opinions on ARK on November 11. It will directly reveal the SEC’s true attitude at the moment: if it directly rejects ARK, it will undoubtedly have a negative impact on the encryption world. Pour a lot of cold water on it, and discussions that other ETFs have never discussed will be directly brought to the table;If ARK’s ETF is directly approved, then BlackRock, which jumped up and down in the past, will become a clown; therefore, I think the possibility of the SEC choosing to postpone ARK during this Double Eleven catastrophe is relatively greater. , both sides must not offend. Under the current market trend of horizontal decline near 35,000, the impact of such a choice on market fluctuations is also the highest priority (it may cause a short-term correction, but the magnitude is not large). In addition, due to the three-piece set (rate, long-short ratio, future (Liquidation volume) data is pointing towards the bulls. If the SEC gives the green light to ARK on Friday, then it will not be a big problem to rush to 42,000 quickly in conjunction with the short burst and emotional boiling. However, we need to pay attention to the fact that all the good news is always bad. That's right, don't chase after the highest point.

11.7 Daily Preview Last night while browsing Twitter, I accidentally saw that Binance was going to release a blockbuster product on the 8th, with the caption "The key to attracting the next billion users." At first, I thought it was just a simple Web3 wallet. I didn’t care, but now it seems like it’s not, and it’s more likely to be related to SocialFi. When I entered the industry in 2017, there was no such thing as this Fi or that Fi, let alone SocialFi. At that time, the first social category that gained collective enthusiasm was undoubtedly SNT. It blocked the Ethernet network from the sky when it was 1C0. The old leeks should still remember it vividly. Speaking of which, at that time, the circle was still full of imagination (simple) about various possibilities, and the concept of public chain was not dominated by one company, so just a "decentralized WeChat" can make many people full of longing. So much so that not long after, in the mixed stage, those who had something to do with search claimed to be "decentralized Google", and there were various decentralized Twitters, decentralization + artificial intelligence, decentralization + traceability, etc. Now it seems that all kinds of elements are flying all over the sky, which is very ridiculous. Later, there was no such thing as later. As time went by, everyone gradually recognized the reality and understood that there were not so many fields that needed to be related to coins in the world of Web2. After going back and forth, I might actually be able to compete in the encryption finals. The remaining players in the currency circle still have to return to the two major sectors of currency and finance that are native to the currency circle. Under the constraints of this concept, whether it is games, NFTs, or outsiders in other Web2 fields, when they want to be related to the currency circle, they often always stop there, and they are not very successful. However, I think SocialFi is different. This thing really can exist. The reasons are as follows: 1. The currency circle has been around for a long time. People who should believe it have already believed it. Those who don’t believe it will never believe it in their lifetime, so next time When attracting users outside the circle, you need to be more skillful and targeted in retention and conversion; 2. The currency circle is naturally attracted to money, and it will naturally attract people from outside the circle when it rises, but retention is difficult to achieve. People who fell down slowly disappeared, so this circle naturally lacks a sector that attracts volume to provide assistance, and the traffic gameplay of social media and social platforms just fits this attribute.To sum up, the conclusion is very simple. “Native social media in the currency circle” will still be very important in the next cycle. How to play it depends on the big guys. In 2017, it was the grassroots era, and in 2021, it was the institutional model. If the "national model" fails in the next round, we can only use Plan B, which is to adopt refined operations. route. Shortly after Musk announced that Twitter would not issue coins, if Binance really puts its new focus on social and plays its cards right, I will have more expectations for it to regain its fans. Recently, I am worried about how to choose products among a pile of garbage. I have ignored the potential area of ​​social, so I simply researched to see if there is any suitable one. It is a copycat, with a small and broad approach, focusing on playing with the new rather than the old.

11.6 Daily Preview Today let’s talk about Doomsday Chariot. The first time I heard this concept was in 2018. In the bear market, it is not easy to have a market trend, so the rhythm of sector rotation is still very important. The doomsday chariot is specially used to describe those stocks that are not far from collapse as soon as they rise. There is no doubt that the first generation of ETC is ETC. This is not a lot of nonsense. What is really interesting may be some new doomsday tanks in the future. In my impression, the market killer in the 20th and 21st years is EOS. Indeed, when this ridiculous price rises, it really means that everything has risen and nothing has risen at a glance. But it has gone up. Then in the bear market of 2022, the original doomsday chariot was too lazy to move. At this stage, I found that the domestic QTUM and NEO are represented by the brothers. If they move, the market will end, and the Hongfei series will be a big pit. I can understand this. Isn't the Shuai Chu series already dead? It's really hard to sleep when QTUM is moving. Then this year, the version environment has changed again. Due to the Hong Kong concept and the possibility of falling in the west and rising in the east, it is inappropriate to consider domestic series as doomsday tanks. So which sectors are more likely to become doomsday tanks at this stage? This is a matter of opinion. I personally irresponsibly blindly guessed that Gamefi and Sun Ge are related.

11.3 Daily Preview After more than a month of fierce court battles, SBF's guilty verdict was finally handed down. The maximum sentence for seven counts of fraud and conspiracy is 115 years in prison. The jury system in the United States is relatively "democratic". The prosecution and defense select candidates from a list of candidates, the jury decides guilt or innocence, and the final specific sentencing is decided by the judge. Today, the Huamen and Shanzhai stalls have poured cold water on the warm wind that has been in the past half a month. The rates of various companies have returned to normal one after another, and the overall mood has dropped a lot. From the perspective of battery life, it is better to take a breather. There's nothing wrong with taking a break. After officially entering the beginning of November, the FTX thunderstorm is about to reach its first anniversary. Compared with the mood of this period last year (big break 20,000, eternal bear market? The currency circle is gone?), the current drizzle is really nothing. The atmosphere of Xiong Mo is like this. Everyone is afraid of the echo circle of old leek who looks up and looks down. It is normal for internal friction to repeatedly struggle between FOMO and FUD under slight market fluctuations (I am one of them below). So if you do feel a little worried today, you might as well think back to whether you have been worried that 32,000 will be the high point of the year for most of this year. Finally, I want to mention the spot position after a long time. In the first half of the year, our overall idea was to buy half of the bottom position with bits and my wife. In Q3, we took advantage of the market’s pullback of 26,000 to lay out 2 layers of bloody copycat chips. In fact, it’s like this 7 It is completely OK to have a layer warehouse at the beginning of next year or even in the middle of the year. After all, the big bulls have not yet arrived, but from a rather radical perspective, the seven-layer warehouse may no longer adapt to the current version of the environment. Globally, the level of risk aversion in various markets continues to be far beyond imagination. However, it is difficult to repeat the macro circuit breaker event caused by the oil crisis + the black swan of the epidemic in the early 2000s. At the same time, there is still not much of an atmosphere similar to the people’s enthusiasm for betting on halving at the end of 19 and early 2020. In this context, the chip structure and leverage level of the pie are very likely to be maintained within a healthy and controllable range. Based on the above logic, it is actually quite difficult to reproduce the 312-level gold pit next year. Instead of The three-story warehouse was left waiting for the bodies to be picked up. It is better to act recklessly against humanity. I think we can find an opportunity to sell out the last three-tier warehouse within this month (single choice of a copycat). Of course, the specific plan and timing need to be determined after observing the details.

11.2 Daily Forecast Today, we quickly go through the macroeconomics. There were no surprises at last night’s FOMC meeting. No interest rate hike in November has already been confirmed by the market. Lao Bao’s hawkish speech at the meeting also continued to be a cliché of the mother-in-law. Why is it lowered to 2 The target of % is unwavering, but inflation is still very annoying and has been going on for a long time. What really surprises me is that CMEgroup currently prices the probability of a rate hike in December. No rate hike is currently a high probability direction, which is interesting. Considering that interest rate hikes have been suspended twice in a row, if there is no rate hike in December If we continue not to increase interest rates, then this year’s Q4 will really be a very comfortable assist environment. Although the era of high interest rates will continue until at least June next year, the narrative of no interest rate increase is ultimately better than another increase, even if it is just a placebo effect. . In the crypto world, UNI is rarely surprised. Combined with Sushi’s sense of immediacy, the Defi sector can focus on companies that have not yet made up for the increase but have solid business and deep internal capabilities, such as CRV and so on.

11.1 Daily Preview Hash Key has made a lot of small moves recently. First, the APP is officially launched on Apple and Google stores. In an interview, the COO was also proud to say that this was approved by the Hong Kong Securities Regulatory Commission. Secondly, Hash Key claimed to be exploring two RWA cases that may have a huge impact on the market, and is currently having in-depth exchanges with the Hong Kong Securities Regulatory Commission. There are two points of concern. One is RWA, which has not been studied carefully, so it is difficult to comment too much. In terms of experience, a similar cannon fodder concept STO also appeared in the last round of bear market, and even the cycle nodes that appeared were similar (the last time was 19 At the end of the year), Poly, the leader at that time, was slightly out of control, but after 20 years, it was Defi, which was holding back its big moves, that became popular. Another focus is back to the Hash Key itself. Mentioning Wanxiang makes people dream back to 17 years before 1994. At that time, the version environment in mainland China was really different. It was friendly and free to the encryption world, and there were various conferences of all sizes. Participate casually in the excitement, and Wanxiang’s carriages of Xiao Feng, Shen Bo, and V God are still fresh in people’s minds; unknowingly, a few years have passed, and Shen Bo’s distributed capital has slowly faded out of sight after 20 years, while V’s Focusing on returning to his roots in the ether field, Xiao Feng is left to continue his so-called blockchain dream. Speaking of which, Wanxiang actually launched the PlatON project during the last round of bear market. I forgot whether it was for privacy or which one. Anyway, it was generally lukewarm and didn't go to any big companies. I hope they can be more thoughtful this time around. Even if we make some achievements in compliance promotion, it would be OK.

10.31 Daily Preview. Let’s take a look at Hong Kong today. As shown above, judging from the list of platforms currently licensed and applying for licenses, it seems that the native CEX giants at home and abroad have not made much action. Of course, it cannot be ruled out that they have opened an unknown small subsidiary company to apply, but until there is no definite information, it is just speculation. Another thing today is the statement from the Secretary for Financial Services of Hong Kong. In addition to the intention to regulate over-the-counter transactions, virtual asset advertising, Internet celebrity promotion and the promotion of virtual asset platforms are also within the scope of concern. If fraud or misleading is discovered, appropriate measures will be taken. As far as I know, before the JPEX incident, OTC had always been quite free in Hong Kong (relatively quite chaotic), so it is reasonable to increase efforts in this area. However, combined with the fact that there are only a few large platforms that have applied for licenses, the two-way narrative that was originally expected does not seem to be so fast. Now, between the crypto world and Hong Kong, it is a bit like the cold period after the novelty. They look at each other with displeasure but find each other. There is no reason to break up. Next, take a look at this picture on the last day of October. Historically, November is quite interesting. If this year is repeated in 15 years, there is a chance that the price will rise until the end of the year. If it is repeated in 19 years, then November will have to be careful. However, the details still need to be discussed. There were bulls in the first half of 2019, so it is not surprising that there will be a big rise followed by a big fall. This year, there is no hair, so I personally will lean towards the 2015 narrative model. (But the excitement will be weaker than in 15 years).

10.30 Daily Preview. October is coming to an end, and the full monthly positive K is not a big problem. Like many confusing Octobers in the history of cryptography, even if there are many mistakes, it is not too disappointing in the end. Today is not only the end of October, but also the beginning of a new week. Although the overall aspects are a bit dull, I still noticed this morning involving the unlocking of chips for multiple projects during the week. The list includes (OP, SUI, 1INCH, TIA , DYDX, ACA, IMX, LQTY, GAL) including some old friends and new faces. Today I will talk about "chip release". Unlike today, which has dedicated data monitoring websites and highly transparent collective supervision, the unlocking of chips for many projects in the early days was relatively "confused" or even random, and the transparency was much worse than it is now. The following are some representative "pitfalls" ": 1. In the white paper stage, the description of the release rules is ambiguous; 2. The promise is contrary to the reality, saying one thing and doing another, which according to current terms is illegal unlocking. If someone is exposed, they will try to find excuses; if there is no If people notice, they will secretly continue to misbehave; 3. Change orders day and night, blatantly change the release rules directly, or even change them many times, which is no different from open-card robbery; 4. Issue new tokens, introduce various confusing trade-in rules, and then Combined with the weird governance rules and other details, the left and right hands can guide each other, tear down the east wall to make up for the west wall, etc., and finally achieve the purpose of early release or illegal release. As the industry gradually matures, models 1, 2, and 3 are rarely seen today. Large and medium-sized projects no longer dare to play with the rules in this way. However, there are still some gameplays similar to 4. Generally speaking, in the current version environment, the advantages and disadvantages surrounding the "chip unlocking" level are no longer particularly powerful, so when you see the news of unlocking various projects, there is no need to be surprised (except for short-term amounts). On the contrary, you can be a little more assured about those projects that are monitored by data websites at all times. These conspicuous bags have attracted a lot of attention, and any slight disturbance or violation will be immediately exposed to the public. Under this kind of binding force, projects can focus more on promoting the development of technology, business and community, and there will be less thought of random attempts.

10.27 Daily Preview, let’s talk about Ethereum Cancun today. I saw an unfriendly piece of news this morning. The Dencun upgrade that was originally expected to be carried out within the year seems to be very likely to be postponed. According to the developer meeting, the test upgrade phase has been plagued by consensus issues, and Ethereum’s Holesky test network was launched later than planned. Therefore, it is very difficult to complete the Cancun upgrade before the end of 23 years. When such negative news comes out at a time when the overall market and sentiment are rarely getting better, it goes without saying that they must have really encountered technical difficulties. It has been a long time since I saw the ace pigeon hat covering Ethereum's head. I can't help but let people know. It smells a bit like PTSD. But having said that, since the birth of Ethereum, it is not new to make some mistakes when promoting core functions. The famous ETH2.0 was delayed again and again, spanning half of the bull-bear cycle, which once caused many people to collapse. Other large and small hard forks also experienced delays of this kind. Fortunately, all the ups and downs were finally overcome. , especially for the current Ethereum, some of its most critical milestones have been completed, such as EIP1559 that can burn ETH, and the transfer to POS that changes the inflation mechanism, etc. Therefore, whether the Cancun upgrade is postponed or not, it has I think the overall ecological impact is controllable, so it’s not surprising at all. In contrast, for the L2 sector, which hopes to take advantage of Cancun's opportunity to speculate and make waves, the negative nature may be more direct.

10.25 Daily preview, let’s talk about UNI today. As one of the typical examples in the industry that is well-received (word-of-mouth data is acceptable) but not popular (dog village is not popular), it has rarely become controversial due to some of its project developers’ shady operations this year. Object. I first came into contact with Uniswap before the DeFi summer of 2020. At that time, AAVE in the lending sector was not very popular, and LINK was only a market puller but not a community. People did not dare to chase the rise. Therefore, Uniswap, the leader of DEX among the three DeFi carriages, became the easiest to excite old players and the easiest to get out of the circle. A project for new people to understand. For old players, the dream of decentralized exchanges lasted throughout 2017 to 2019. Before AMM was launched, DEX was always trapped by technical or product problems of one kind or another. Not to mention for new users, it would be better to knock them out with a stick if they want to use those old antiques. Uniswap's data in the early days of Xiong Mo Niu were very good, and the project team also received a huge amount of financing. During that time, the discussion in the circle was about its Betfair token, but occasionally it would sublimate it and talk about the long-standing controversy in the industry. The question is, if a project achieves results, does it mean that it must issue coins? I believe the Uniswap project team has struggled with this answer for a long time. Their initial thoughts were probably the same as the current Opensea, which is business. They continued to raise funds as usual, and at the same time, the goal of not issuing tokens was to go public. However, the project team did not have much time to hesitate. After entering the Defi summer, Sushiswap, the second-largest DEX that was mainly anti-customer, took the lead and directly issued Sushi. , a large amount of funds and users were quickly washed away from Uniswap in a short period of time, and then the Uni project team really got into trouble because of this. In the end, without planning anything and without considering the key empowerment clearly, they hurriedly followed the trend. Uni. Although it was an airdrop feast for users at the time (400 UNI was obtained with almost no threshold), and it was quickly listed on Binance and Coinbase, the subsequent bull market performance was also pretty good. But looking back now, the measures taken at that time were indeed too hasty. In the bull market, both people and ghosts are going crazy. UNI’s biggest empowerment problem has also been covered up by dozens of times of growth. Although Uniswap’s products have been continuously iterated in the following two or three years, they have never given UNI a story. As a result, this hen that is capable of laying golden eggs but is so stupid has always maintained a very rich business profit but never had trouble. It doesn't even bother to draw a pie for users.In contrast, Ethereum's style is much more sensible. Every upgrade has full consideration for ETH's empowerment, chip structure, inflation and deflation, whether it is a hard fork, the promotion of ETH2.0, or other Shanghai's upgrade or support to L2, etc., have always focused on ETH itself. This is one of the reasons why the community is always confident in the future of ETH no matter what the circumstances. Who knows if the Ethereum project itself is awesome or not. If what you do makes ETH awesome, then we will like it. Compared to Now, the Uniswap project has clearly issued coins, but it is following the scumbag route of Opensea without asking. It is really arrogant and upright, and it is completely understandable that the community's resentment is gradually increasing. In this circle, after playing for a long time, you will understand that confidence is everything, and you have to give users a sense of security to win the world. The UNI project is obviously well-funded, and it is considered a smart enough old fritter hen in the circle. If the next If the cycle of life is still not enlightened, and if you continue to be aloof and self-righteous, then you will wait to be abandoned by the times and become a remnant crushed by the new generation.

10.24 daily preview, today we will talk about Wang Feng, Fomo emotions, and Korean kimchi. Yesterday, Wang Feng’s divorce was sent to me by a friend outside the industry, along with a meme complaining about Big A’s historical lows. At first I didn’t care much about this melon, and I had no interest in Wang’s personal affairs. However, as someone who has experienced 312, a magical memory suddenly appeared in my mind before going to bed. I quickly went to Google and Baidu and found that although Most of the reports were deleted and suppressed, but some clues remained. Yes, in the days after 312 and 313 three years ago, Wang's huge loss was revealed by entertainment reporters. It is said that this was also the trigger for the intensification of the conflict between him and Zhang. Wang later also got involved in the fields of NFT and digital storage, and he has always had a character of gambling heavily on leeks. So, did he suffer a big loss this time because he went in the wrong direction? very possible. Enough gossip, let’s talk about FOMO emotions. In the bear market, FUD is not uncommon, but FOMO is relatively rare. Especially in this round of bears, there is not even a decent Mavericks and copycat season, and there is no chance of decent FOMO; in this context, today BlackRock and Gray After the degree thing fermented, I saw only market fluctuations, but I didn’t see much improvement in the emotional aspect. Such signs feel quite healthy, and there is no need to warn of risks for the time being (of course, once the data and sentiment overall increase, then It has to be said separately). Finally, riding on the popularity of MINA, let’s talk about Korean kimchi. This is really an enduring concept. When I first entered the industry in 2017, my perception was that Japan was more friendly to the industry, and I actually didn’t pay much attention to South Korea. It was not until I saw the power of Hansuo (Bithumb, Upbit) in 2018 or 19 that I refreshed my original understanding. Although the former gradually broke down due to various disturbances 20 years ago, the latter (UP) has always been very resilient (even though there was a period of silence under supervision). Combined with its recent performance, we have to admit that South Korea’s response to encryption There is really no need to say how crazy the world is. Even CB is gradually losing its online effect, but it still maintains a good record. This is true in a bear market, and of course it can be expected even more in a bull market. Therefore, you might as well boldly pay attention to the concept of Korean Wave.