In previous cycles, large investors would flee to the top and distribute their chips to retail investors chasing FOMO's rise. However, the most impressive aspect of this round is that it has trapped large investors on the mountaintop. After the entity adjustment, the URPD divided by wallet elections can clearly see where the whale group and retail group are mainly distributed. 1. The cost of super whales holding more than 100000 coins is concentrated around 8-8.5w. The others are around 70000 and 40000. So the current price has also affected the super whales. 2. From 6w5 to 12w, the main components are 100-1k and 1k-10k whales, with a small proportion of individual investors. The proportion of retail investors holding 0.1-1 and 1-10 coins is high between 60000 and 20000. 3. Below 2w, the whale group with large wallets is the main proportion. So, whether these trapped tycoons collectively commit suicide will determine how deep the bear market is. The retail investors who are priced between 60000 and 20000 are basically irrelevant. They have already sold what they want, and those who have stayed until now are basically not moving.