Author: Rui, HashKey Capital Investment Manager Source: X, @YeruiZhang

1. Big coins are BTC, ETH, SOL, BNB, BTC is relatively independent; ETH follows Nasdaq completely, and it is weaker than Nasdaq; SOL basically stops after unlocking + MEME is turned off; BNB is the most stable, and BSC+Wallet will rise as long as there is an angle. Big Coin now has no direction, and it needs a good macro + good US stocks + micro-strategy financing to be in place.

2. New coins are newly launched games. Binance-related PVP has been continuously advanced from the institute. Everyone knows that there will be no premium if spot stocks are launched. IDO has become a game that compares who is faster. It is better to water it online than to water it on the contract. It is better to just go off work when you start the market. As the third day of IDO, BR is actually the best day. There are expectations for the first two. If you have strong market buying, you can do whatever you want. Although it is not available in spot, you probably have finished the chain. When I arrived at KiloEX, I got off work when I opened. I believe the project party did not ship... because I guess there was really no buying. As for the seven sons fighting for the throne, I can only say that Binance has tried his best (I want to sing one song, what else do you want me). Myshell and BMT can only see whether the project party is conscientious (to be honest, I still have some of these two).

I think Nil and Parti are both amazing. In my opinion, they are both dragged down by the market and the pricing is low, because the community is actually okay, and there are also buying. It will be of no benefit to the project party if it goes on and down, and let's take a look in a month. GPS I can only say... when it is upward and downward, it is a magic plate, which is really a big opening and closing.

Bybit's basic pricing for coins is from 100M-50M. If the project party does not work hard, it will only be the result of getting off work. OIK made such a big Drama, which attracted a lot of attention, but still did not buy externally. The project party was just concerned about fighting and really didn't care about the community... I'm curious about the community according to the community saying that everyone locked the position and the project party was protecting the position. Who was smashing the position? Other new projects are not good either. The downward divine plate Flock in the old project has fallen below the investor cost. After the Xiaofeiji took Bithumb, he also got off work quickly. Fortunately, it has not fallen below the lowest point. Fuel and Avail's listed coins can also be regarded as an "explanation" for investors. I told several investors who invested in the later stage that I don't know what to do later.

The previous few listed coins on my list are more interesting, IP and Bera are indeed relatively independent, and are worthy of being S-class. Kaito and Xter did not fall below the issue price, and they also made a lot of money for everyone. In fact, they are already very conscientious. If the market conditions improve later, I think there are still some fun.

3. Lao coins (husband chain, Lao DEFI, etc.). As the main battlefield of institutions, this is quite magical and is a fool of each other. In DEFI, Pendle, Uni, and AAVE have long-term institutions entering and leaving. The most interesting thing is Cake. As soon as the BSC hot spots are coming and going, institutions and retail investors have drawn such an ugly K-line together. Sonic has slowly built up the ecosystem in the public chain. ZKJ is also slowly rising contract positions in the public chain. Although APT's ecosystem has been broken, it has a little downside and has money in hand. ATOM said it is going to do something new. At least these people are still working, and they also have points to play.

4. To be honest, I don’t understand this aspect very much, but Auction’s wave is really eye-opening. I dreamed of the rhythm of the Korean Academy in the second half of 2023. Unfortunately, the Korean KYC is becoming more and more difficult now, and it is even more difficult to make such an effect. It requires local resources. Most of the pull-up coins in other Binances are not sustainable, so I have to run away quickly after licking it.

In fact, since last year, few traders in the market who can make money have looked at fundamentals. One is to read news and narratives, but anyway, they just need to do a large position when the logic is clear, and the other is to look at the capital rate and the on-chain address. In essence, they are playing with the bank, but they are to see whether the bank is strong or not. There is no way to rely on fundamentals in spot stocks, contracts are all about emotions and data. I hope the market will be slower in the next few months and give some spot opportunities, such as Pendle, STX, RNDR at the end of 2023, otherwise pure contract PVP will be really difficult to play.

I think the most beautiful star on the market in the past two weeks is Cheems, and I always believe that sincerity is the must-have skill.