Here are a few observations about the market, let’s break it down bit by bit: 1⃣ The market is deeply divided on ETH. Every time ETH drops, two groups of people come out to debate whether ETH has any value and whether it can rise again. Without discussing fundamentals, let’s just look at the token structure. Previously, ETH trading was dominated by Asians. In this cycle, Western institutional funds, represented by Tom Lee, have started stepping in to take over. The old generation of ETH OGs are cashing out, and the cost basis for new funds is around $4,000. This is very similar to the early stage when Wall Street funds began taking over $BTC. What’s more, after two years of consolidation, the average cost for ETH holders has risen. Getting in now isn’t considered late. 2⃣ I still think OKB is the most promising platform token, but BNB is more stable and remains the absolute golden shovel. OKX’s empowerment of OKB is still too slow. Lao Xu and the OKX team don’t seem adept at handling and channeling the community’s enthusiasm. In contrast, CZ and He Yi from Binance are naturally skilled at managing this kind of fervor and turning it into upward momentum for BNB, creating a positive Alpha cycle. The OKX team is excellent, but they need to let loose and go for it. For example, XDOG, as the leading project of X Layer, should just be launched. If it needs support, then support it—no need to hesitate. Other developers also need to see you taking the lead. If OKB doesn’t break out, the entire X Layer won’t take off. 3⃣ Bought some FTT spot at $0.89 as a lottery ticket. No news yet, but just looking at the chart, after two consecutive tests, I can’t shake the feeling that something’s about to happen.