Dear readers, may the Year of the Horse bring you great fortune!
This Bingwu Spring Festival, we wish you: ever-rising portfolios, a mindset as steady as a galloping horse, and profits racing like a track sprint!
Let’s take a look at what KOLs in the crypto space have been hotly discussing over the past 24 hours—
Note: The following content is compiled from the X platform, representing personal opinions only. It does not represent the stance of this platform and should not be considered investment advice.
New Year Reflections, and When AI Takes Center Stage at the Spring Festival Gala
Kraken Exchange Launches Chinese Account, Executives Extend New Year Greetings in Chinese
The Evolution of Listing Cycles: “Narratives Are Dead, Utility Reigns”
Article link: https://www.bitpush.news/articles/7612622
Author’s note: “As an old-timer in crypto who’s anti-VC, this sentiment really resonates with us—do you know how long it took for the crypto community to reclaim pricing power? So today, from the perspective of a seasoned veteran, I’ve strung together these phases to help newcomers understand the journey. This is a hearty dish for you to savor during boring family visits or while traveling. It’s worth reading again and again.”
He Yi’s repost comment:
“From an exchange’s perspective, the first phase was the wild west era where many projects cashed out and left. Binance began restricting investors & project teams from unlocking tokens based on milestones or timelines.
The second IEO era emerged because liquidity was concentrated, giving Binance more leverage to advise projects on low-price TGEs to benefit retail investors, without charging listing fees—a win-win logic. Coupled with the bear market introducing longs, shorts, and leverage, this became the ‘golden age’ everyone reminisces about.
The third era saw AMMs revolutionize DEXs, the rise of VCs, and the professionalization of industry KOLs and institutions. This diluted CEXs’ pricing power and introduced compliance standards, leading to airdrops.
The fourth era is marked by further institutional professionalization among players. Exchanges evolved from early curation to CEXs integrating wallets and enabling trading of any on-chain token, giving rise to ‘the eggs every generation must claim’—Alpha, intended to balance VC & institutional, project, and retail interests.
For any emerging industry, it’s a process of feeling our way forward. Most people lack faith in the industry’s long-term prospects, hence ‘not looking long-term.’ It’s like many don’t believe we can cross this river, but only those who believe can make it to the other shore.”
Market Discussions
Popular replies:
In a bear market, any news is bearish; in a bull market, even unrelated news is bullish;
When Bitcoin ETFs were approved, the price didn’t rise—it actually dropped from 44k to 38k, but later hit 120k. Probably now it’ll hover around 60k-70k for a long time;
It’s these positive factors that pushed it past 70k; otherwise, it would’ve dropped to 60k already.
The Charm of “Sun Studies”
Popular replies:
A joke: you think he’s just borrowing a pen, but when you look back, your wallet’s gone too. Then Brother Sun invites you to dinner under the pretext of returning it, and you end up losing the meal on top of it;
His never-miss-a-trick nature is etched in his genes;
I heard that last time Sun Cut was interviewed in Hong Kong, he pocketed two glass cups on his way out;
