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The most important quality of a leading player (the Chosen One) in a meta is their mindset, honed through countless experiences of profit and loss in a familiar market. Their strongest moments are when they are unfazed by profit and loss figures and firmly execute their strategy. As for the strategy itself, whether hoarding coins for a longer-term cycle or shorting altcoins and investing in mainstream stocks, the core is to assess the longer-term cycle and mitigate single-point risk. Be friends with time.

A beginner's first stop is Binance Square. I recently opened a small account for my girlfriend, and she's been checking Binance Square constantly, asking if she can buy this or that... Last week, I only played with BES, but now I'm eager to try everything I see... and the targets are getting increasingly outrageous.

Now the question is, is Bitcoin a risky asset or a safe haven asset? Another observation is that today's market liquidity has improved significantly... The big players in the "monster" market are all working, and the mainstream CME is driving up the market, with buyers taking over...

No sleep until ApeFest.

Three days have passed: 1. After Trump's exit, some traders are betting on the end of the second round of exploration and starting to buy mainstream cryptocurrencies. Prices are fluctuating within a very narrow range, with both short and long positions eager for Monday's results. 2. Altcoins are in dire straits. The zero-sum game of futures contracts is missing the sustained growth of spot prices, and futures trading volume is shrinking rapidly. 3. The on-chain market remains stagnant. When will things improve?

Now might be the worst time yet: 1. Mainstream coin liquidity is abysmal, and prices continue to plummet. The trend is similar for all major coins: down, down, down, then rebound, down again. Prices have returned to their previous lows. Let's see when BTC and BNB stabilize. 2. Spectre coins are rampant, completely consuming the liquidity of altcoins. I bought a few yesterday, and they've plummeted with no sign of rebounding, leaving me completely wiped out. 3. On-chain transactions are completely diverted, with no wealth effect at all. I wonder when this will be fixed...

I don't want to profit from anyone's losses, and for some reasons, I can't discuss the various issues surrounding Binance. However, I believe one way to restore confidence is: Binance should refrain from actively selling off portions of its fee income for a period of time, and should establish a rescue fund to regularly purchase coins from the market. From a CEX perspective, losses are endless; it's better to expand the pie. At a time like this, the best strategy is to buy and hold. This isn't about buying memes, but mainstream coins... allowing a portion of the revenue to flow back into the market.

In Yantai, Shandong, clouds drift gracefully over the city. Sunlight penetrates the clouds, casting dappled shadows and showcasing the sky's ever-changing beauty. (Source: Yantai International Exchange Center)

Let's recap the recent public hype for the coins, both good and bad: APT: It was significantly impacted by the crash, but Jump's order book depth is sufficient for a MM, and the lowest price is within a reasonable range. During the first rebound, some large short traders took profits, driving the funding rate down significantly. The team needs to boost confidence here. Let's wait for the price to recover. Eigen: I bought in around 1.6 and sold around 2.0 during the last wave, so I should have made a profit. I don't have any opinions at the moment. Kaito: The highest hype was 1.05, and it was 1.6. Now it's 1.15. I sold more at 1.4 and bought it back yesterday. It's still the most stable coin in the market, so I'm still bullish. The recent halt to buybacks and accumulating some Treasury is a good thing. After Coai and other new coins, the expectation for new coins remains strong, and Kaito's value remains. XPL: I'm going to say it again. I was an idiot. I thought it was JUP, but it turned out to be W. With such high consensus and attention, coupled with an endless sell-off, what can I say? I've lost a lot of money on this. FF: DWF remains as stable as ever. They pioneered a new strategy, using Alpha to pump and dump stocks. Social, social. I didn't follow suit, but if you encounter this next time, you can short it after the market opens. Mira, Open: Shorting Mira makes money, while going long on Open makes money. The key to a new coin is whether or not to dump stocks. I'll learn from this next time.