We are particularly honored to invite today's heavyweight guest — he has been in the crypto industry for over ten years, deeply engaged in on-chain data research, and is best at dissecting market trends from capital flows, using real data to unveil the logic behind major players' behaviors. He is JCX! Below is the live broadcast review from October 29, 2025:

Research Institute: JCX, you have been in the crypto industry for more than ten years. Is there any particularly memorable large order signal that helped you predict a market reversal in advance? In the past, I have indeed encountered many valuable signals. Let me mention a recent example. Everyone can take a look at the major orders on AiCoin; actually, before the market started to rise, there was already a large order wall appearing, which is marked by the red circle in the image. Without any other auxiliary news, this large order data is one of the core reference indicators for my market judgment.

So how do you determine the true direction of major players from the data when analyzing major orders?

JCX: First, look at the duration of the orders — friends who trade often know that orders can be canceled, so the longer the order duration, the more determined the major player is about that price point. Next, look at the order amount; for spot trading, it should generally be over 5 million, and for contracts, due to leverage, it’s best to look for orders over 10 million. Of course, everyone may have different thresholds in mind; the larger the amount, the stronger the major player's intention. Also, consider the density of the orders; sometimes major players will spread out their orders or place them in batches, creating a dense order wall. In simple terms, an order wall acts like a price barrier; different price orders gathered together in the same time frame form the visible entity of the order wall.

Research Institute: Thank you, JCX, for your detailed answer. Let's continue our interview. Many people are now starting to switch to DEX trading. What types of data do you focus on when observing DEX? Speaking of DEX, I must emphasize the safety of on-chain trading — friends who are new to DEX must use independent wallets and start with small transactions to try and verify. Whether trading common tokens in DEX or the so-called "meme coins," it is essential to check the smart contract audits. Many DEX wallets now provide common security analyses, which is very convenient.

JCX: I mainly focus on these types of data: the TVL (Total Value Locked) of the pools, liquidity (which requires looking at the 24-hour trading volume and historical trading volume trends), the number of holding addresses (especially the distribution of the Top 10), and slippage — slippage might be a bit difficult for ordinary users to judge, but it can be referenced by filtering past historical data. Many on-chain analysis tools or wallet functions are now quite complete. Speaking of on-chain wallets, we can actually directly use the DEX provided by exchanges.

Research Institute: Let's keep the excitement going! Recently, the MEME sector has become popular again. In your opinion, what is the biggest difference in the funding logic of MEME coins compared to mainstream assets?

JCX: The trading risk of MEME coins is particularly high; most rely on market narratives, and the duration of their popularity is short. If there are profits, it is advisable to first recover the principal. Do you know what the variety in the image below is? Yes, it’s Binance Life. You can see it experienced two peaks: one started to soar after CZ promoted DEX trading on October 5, and the second was when Binance listed this token, where the popularity exploded particularly concentrated.

Research Institute: So the last question: What practical advice do you have for ordinary users to learn how to "read wallet data"?

JCX: First, understand the historical records of your own wallet, distinguishing between what is incoming and what is outgoing, especially paying attention to any unauthorized transfers. Next, look at the permissions granted to smart contracts — this relates to whether funds could be misappropriated. It is advisable to regularly use tools to check and revoke unnecessary permissions; for example, the OKX DEX wallet supports this function. Also, pay attention to gas fees, observing the relationship between arrival times and transaction fees during different time periods; additionally, on-chain data of the trading tokens should also be monitored, such as TVL, the situation of Top 10 holders, and large transfers — especially transfers from project addresses.

Research Institute: Thank you, JCX, for sharing so much valuable information! Next is the Q&A session. The next question is also of great concern to many newcomers: How can one get started learning to use wallets? Please, JCX, as an industry veteran, give some advice to the newbies.

JCX: The beginner tutorials provided by exchanges are becoming increasingly comprehensive. I recommend that everyone first look at the introductory knowledge of the exchange, for example, Binance has a "Binance Academy" module on its official website, which contains very practical content. It’s a good idea to read more about how to recharge and withdraw, and what different chains mean; these can all be understood and tried out more. By the way, Binance Academy also occasionally holds "Learn and Earn" activities, which new friends can take note of.

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JCX has provided us with a systematic and practical analysis framework, from analyzing major capital flows to using on-chain wallets. No matter how the market changes, the flow of funds is always the most authentic market signal.

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This article only represents the author's personal views and does not represent the position and views of this platform. This article is for information sharing only and does not constitute any investment advice to anyone.

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