From an institutional perspective @ (Bubblemaps. io) Bubblemaps BMT Too long to watch baby bus version: 1. MM is relatively passive, focusing mainly on shipping 2. The decisive liquidation of the counterparty in the contract can be called a contract widow manufacturing machine in a sense (players who go in the wrong direction will inevitably be liquidated to the end) 3. Before entering the next trend, the trader will test the key liquidity area and try to liquidate contract players who are in the right direction. This is a dangerous signal If the valuation of Series A is between 40M-60M, it can be converted to 0.04-0.06. If you are optimistic, this is a good bottom range 5. From the fundamental perspective of the project, due to the decline of the primary market, institutional participants will further downgrade the position rating of the asset. If there is unlocking, the possibility of continued holding will decrease ————————————————————————— A bit long version: From the perspective of MM behavior, BMT has shown a relatively negative distribution trend from around $400 million at the opening to $70 million now. We can draw some conclusions a. From a needle perspective, this project is quick in killing the opponent's position in the contract. Traders who reverse the entire position contract will be thoroughly liquidated until the margin returns to zero b. Market makers will try to touch key positions (liquidity intensive areas) during trial trading, and when entering the next reversal trend, they will try to liquidate the right contract players, which is a subjective act of wrongdoing 2. From the performance of the K-line, it can be seen that this type of project has fallen to a historical low point, and the common A-round valuation for this type of project is between 40-60 million US dollars. If converted into a price, the institutional price of BMT is between 0.04-0.06. If you are optimistic about the future development of this project or want to explore the rebound space of an institution, you can refer to it as an important bottom position range for those who plan at a low level From the perspective of project fundamentals, due to the decline of the primary market, the volume of searching for Cabal associations on the chain has significantly decreased. If we look at it from the perspective of usage valuation, it is currently at a historical low. If Pumpfun's trading volume has reached less than 10% of its peak, and most projects are difficult to break through the $10 million range, PVP is very significant, and there are no new players or money entering the market. From the perspective of dynamic P/E ratio, the valuation of related projects should also be at least 30% lower ————————————————————————— Original content, non advertising content. If fans wish to continue seeing related token analysis, it will be continuously analyzed on Binance Square to provide an institutional perspective. This article is Bugsbunny's (@ octopusycc) first analysis from the perspective of K-line institutions for Binance Square individual coins. Welcome to like and share