First believe, then see. The adoption of technology follows a similar curve.

Can the huge selling pressure from holding $BTC for 14 years be digested? $ETH continues to stabilize 🔥 The selling pressure for $BTC remains, while altcoin sentiment is warming up. The most noteworthy news in the past couple of days is the progress of the 80,000 BTC whale selling pressure. Currently, there are still 4 addresses holding around 6,000 BTC, worth about $720 million. This means that most of the selling pressure has almost been digested! Selling pressure is not the problem; the key is whether there are buyers in the market to absorb it. It's somewhat similar to the initial discussions about the source of the recent drop in $ETH, which was the HTX exchange address (most likely our Sun Ge @justinsuntron, who suddenly dumped tens of thousands of $ETH into the market). Even though Sun Ge transferred tens of thousands of $ETH, on July 20, the buying volume for $ETH was 440K $ETH 😎 Next, let's talk about the progress of $ETH. @SharpLinkGaming transferred another $145 million in USDC to the Galaxy OTC wallet 9 hours ago. Is it still up only? 😎 Looking at today's OTHERS indicator, in the past three days, it has grown from the original 274B ($274 billion) along with today's BTC returning to 118K, growing to today's 295B ($295 billion). Why look at OTHERS? Excluding the market cap of top 10 coins like BTC and ETH, it essentially allows us to grasp the sentiment of altcoins and see if they are disconnected from the major coins. Yesterday, I remember BTC's trading volume slightly surpassed ETH's for a moment, but this week, ETH has been significantly ahead. So we can see if BTC will surpass large trading volumes, leading to a new wave of price increases. If this institution is serious, there's no need to say it's over too early.

【Are you being controlled by AI? 🥸 How to collect quality information in the vast sea】 The crypto space is falling into a homogenization dilemma. From content production, exchange products, market narratives, the AI tools we have, the platforms for issuing tokens, to the gameplay of infofi, it seems everyone is doing the same thing. 💡 Find the data that only you can find. 💡 Speak the words that only you can say. 💡 Make decisions that you can trust. This is what I constantly push myself to do. As soon as a leading player appears in the field, it seems difficult for innovative elements to emerge. At this time, to occupy the second or third position in that field, several factors usually still rely on the resources of the team itself or truly finding out what kind of PMF can be achieved in the market. Taking Infofi as an example, honestly, the only infofi I use daily now is @KaitoAI, because it can indeed help me find market insights. I can catch potential narratives or hotspots in the market that have not yet fermented just through emerging yappers, or the rising stars (for me, the existence of many emerging yappers is alpha). Previously, the emergence of @cookiedotfun provided everyone with market sentiment for various tokens, and top yappers can be viewed, which is a decent PMF because this is something Kaito lacks. The AI agent dashboard I used frequently before also helped me a lot, allowing me to see which projects and ecosystems the overall AI agent mindshare is currently concentrated on across various chains, which is quite helpful for trading on-chain during a bull market. Fantasy's Clout @fantasy_top_ is based on the players and supporters accumulated since the blast period, so it can later bring clout, and even the recently popular @shoutdotfun can gain a certain level of exposure. Fantasy's approach also makes me feel that if there is only one product today, it is very difficult to continuously accumulate traction in the market. Just like Kaito started with a 2B data tool, the initial batch of genesis NFTs also provided WL to paid subscribers, thereby accumulating the first batch of loyal users. I previously mentioned the advantages of the Layer 3 team. Besides having been doing on-chain tasks for a long time, they later collaborated with Arbitrum and Robinhood, and developed a smart wallet to lower user thresholds. The protocol also has real income and finally joined the infofi terminal battle. They launched their own Layer 3 Signal! Currently, the data of Signal is mainly based on user data from the Layer 3 task platform to overview the current heat of each project. So if we distinguish the upstream and downstream of information acquisition: Investors invest in projects, projects do PR + marketing, KOLs produce content, on-chain players complete tasks. Each of these links can develop its own infofi, and the data it is based on and the moat it can achieve are different. The data available from Layer 3 is definitely advantageous, so for us, besides regularly checking which ecosystems currently have interactive heat, for intermediate on-chain players, the tasks that are online can also serve as a reference indicator. For example, the recently launched Sei Cube task from Layer 3 and the @Terminal_fi task are both quite hot. Coincidentally, I have mentioned Ethena quite a few times in my recent tweets, and they also have their own settlement layer @convergeonchain. I noticed that the project's recent actions have started to increase, naturally providing opportunities to grasp the subsequent strengthening of Ethena 🔥 $ENA should also be one of the stronger coins in the past few weeks. Terminal happens to be one of the protocols that has seen a significant increase in discussion. After starting its promotion, its TVL reached 100m within 2 weeks. If you usually don't pay special attention to Ethena, you can use this type of information to make layouts through Layer 3.

After the collapse of the altcoin and the big drop, I believe most people have been lying flat these past few days 💀 If you have time tonight, feel free to come! Thanks to @MiraNetworkCN for the invitation. I will try to ask some tricky questions 😂 @Mira_Network

Is E-Warden still doing well? We can pay attention to whether the capital inflow situation in the past two weeks can continue. It has been flowing in for 2 months, and it's still early. We still underestimate the big brothers and sisters of listed companies. The news tide of coin stocks always brings some pullbacks. ETH has pulled back from 3850 to today's low of 3502, which is about a 9% drop, and it's still acceptable. ＝＝＝＝＝ Today's network issuance is 2.5K ETH (9M). SΞR (Strategic ETH Reserve) has a total purchase of ETH of 79.2K (285M). There is still a 32 times gap ✨ ＝＝＝＝＝＝＝ Everyone knows that the main factors driving the price increase of $ETH this time come from corporate reserves and ETFs. We also know that there will eventually be a slowdown in the short term. So whether the daily inflow amount can continue, whether there is an increase, and how it affects other ecosystems in the market are very important points that I have emphasized in the past. Here are a few key data points regarding $ETH capital inflow recently: 💡 Last Wednesday (July 16), a historical inflow high was reached, with over 700 million USD inflow from ETFs in a single day. 💡 At the same time, last week also saw a historical high inflow, with nearly 2.2 billion USD inflow into $ETH. It almost surpassed the amount of BTC (2.4 billion USD), which is very exaggerated. During the previous low period, ETH ETFs had an inflow of about 50-70M per day, so the recent growth scale is about 10 times. Even during that low period, I was tracking it weekly 🙈 💡 One point to note here is that BTC ETFs started to see small outflows last week, and the capital inflow was not maintained, while ETH ETFs have maintained their inflow. There is still over 1.5 billion USD coming in. The data for this week is relatively important! You can see that this website shows the daily inflow changes of ETH ETFs since their launch, which has basically been growing slowly since May this year. This means that just 2 months of growth can cause such a significant change in the attention of the entire ecosystem and even the market. we’re still early :)

Comparable to the deposit airdrop speed of $HUMA, Yala ... You can claim the airdrop now 💰! Friends who followed the deposits earlier, remember to claim it. Although the market tanked along with the US stocks yesterday... it quickly rebounded to 120K several times, feeling that the buying pressure is still very strong. In addition, altcoins seem to be gaining strength again, today is a standout zoo series. The fragrant $YALA will soon be listed on Binance alpha, with an opening market cap reaching 400M FDV, once again proving what was mentioned yesterday, the cap for new coins is gradually increasing, currently pulling back to around 290M FDV. The current circulation of $YALA is about 25%, with a market cap around 75M. The airdrop link can be accessed directly through the official Twitter. Just a reminder, the open period is only one month ⚠️.

The US dollar now lives on Ethereum. Not on a bank website. Not on Bitcoin. On Ethereum.

Fancy SPAC ATM PIPE various plays Most people haven't understood this wave yet And the first wave of the market has already ended Retail investors who can't calculate ATM have all become 🏧... The volatility of crypto stocks and the reaction time window can really compare to memes 😂

This wave of market trends may indeed be best managed by holding mainstream coins for a stable return without much worry. For CEX users, holding coins means opening positions and increasing the number of coins with the price rise. For DeFi users, it’s even simpler: it’s about using profits to accumulate the base currency. Just pick a large holder on debank, and you can see how they operate; many aim to accumulate ETH in the long term. Besides long-term accumulation of ETH, it’s about the consensus of the whales, which teams they are willing to trust, and how to improve capital efficiency. These insights are not visible in CEX trading, and over time, one will naturally become disconnected from the DeFi ecosystem. Taking this large holder as an example, their funds are placed in @aave, @synthetix_io, @pendle_fi, @HyperliquidX, and Ajna. Additionally, you just need to find undervalued market opportunities on-chain; the APR on the books has a lot of room for growth. What are undervalued market opportunities? 1. Two months ago, following @crypto_Abao, I looked for memes on avax. As someone who is used to checking defillama, I found @PharaohExchange, an undervalued DEX with high trading volume and an FDV far below @LFJ_gg (I hadn’t followed Avalanche for so long that I even forgot it had changed its name to LFG..). At that time, I thought the data was good; the avax-usdc pool could yield 100%, so I decided to give it a try, believing that the coin price would continue to rise as the market warmed up. Now it has become a godly mine with a 500% APR. In these four days, the token has also risen by 250%, meaning the rewards from mining have multiplied several times without needing to take any action... Of course, if it’s LP farming, you need to monitor the price of avax if you don’t want to sell all your tokens. I also just casually checked, and Avalanche's TVL has surprisingly broken a three-year high, ranking as the top 10 with the most growth in the past month (+39%). If ETH drives the altcoin market, the current $SOL and $BNB hype is actually quite strong, and the next to activate in the top 10 should be Sui or AVAX. Any on-chain operation carries risks ⚠️; you need to assess your own risk tolerance before investing.

$ETH set a new price high for 2025 last night, and the next target is 4000. In nine days, it will be the tenth anniversary of Ethereum, and I am honored to have spent 80% of that time together. Let's continue to move towards the next decade! The Ethereum Foundation @ethereumfndn has recently started to release content regarding zkEVM, which is definitely something important to understand in the ecosystem. Regarding the $ETH reserves, as of July 20, 56 entities collectively hold 1.7M $ETH, worth 6.6 billion dollars, accounting for 1.46% of the total supply. This morning, I unexpectedly discovered that the U.S. government is currently in the top 10 😂 and I expect more governments to join the ETH reserve race. This Sunday, $ETH shot up from around 3475 to a high of 3820, and many altcoins also started to rise, including $LTC, $DOGE, and even $XTZ and $ATOM, which are all beginning to gain momentum... It seems that we are indeed moving towards the "altcoin season" that everyone hopes for. Earlier, I also saw @albertcoinglass mention the "top escape indicator," and currently, several are at a progress of 7.80%. Checking daily is helpful. I will still focus on the changes in total 2, total 3 + OTHERS values. I believe that the reserve battle for ETH will continue and break historical highs without any issues, but we still need to pay attention to the risks above ⚠️.