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Risk and Opportunity Trade-off This trend is tough for the bulls; sometimes you can't help but doubt yourself. Whenever I hesitate, I ask myself again what the original logic was for buying in, whether that logic has changed now, then I chat with Gemini to verify, and once confirmed that everything is fine and my investment strategy is sound, the next step is to leave it to time—using time to gain space. Sometimes I also hesitate whether to fully or partially exit to reduce costs. But such actions conflict with my understanding. If I am optimistic about an asset and it rises as I expected, but I’m not on board, I think that’s the most painful thing. It affects my trading mindset, which I value highly. Only with a calm mindset can I operate; otherwise, I have to stay away from the market to calm down first. Matching cognition with action is essentially the process of eliminating "cognitive dissonance." Since I believe in the long-term logic of the asset, holding the position is the strongest way to practice that belief. #ETH

HODLing is a practice that goes against human nature. Whenever the market starts moving and you see the K-line fluctuating, you always want to lock in profits through swing trading, fearing that gains will be given back. But experience shows that frequent trading only disrupts your market intuition, causing you to get shaken out early in a bull market. The best strategy is often to "actively disconnect": open a game, divert your attention, and reduce how often you check the market. When a trend forms, learning to "play dead" is not just a skill but a top-level trading discipline. Play dead in a bear market, and also play dead in a bull market—use the simplest method to hold onto the major trend of an era.

Recently, when browsing x, I keep seeing a viewpoint that says we are now in the AI era, and assets are all chasing the hot AI-related stocks, while cryptocurrency has become an old asset with no value. However, I don't think so. In the past, cryptocurrency was only about speculative value, more like a big casino, with little connection to the world. But now, in this AI era, things have changed because AI needs cryptocurrency; the two are complementary. First, in the payment field, AI cannot use human bank accounts and paper money; instead, it aligns better with stablecoins in the crypto world. AI agents need payment methods that do not rely on banks; they can have crypto wallets and make payments with stablecoins. This area is bound to see significant investment opportunities with the development of AI, such as stablecoin company Circle and the underlying blockchain ETH. Second, in the public chain field, public chains provide AI with identity and assets, allowing AI to be more complete on this grand stage and have more autonomy. The cryptocurrency field will be a powerful tool to further drive AI development. In the future landscape of the AI era, there will definitely be support from cryptocurrency, marking an important step for crypto from being a big casino to becoming a foundational financial infrastructure.

OKB market cap 1.8 billion BNB market cap 83 billion The market cap of OKB is even less than a fraction of BNB. I remember that the last time before the favorable news of the burn, the market cap of OKB was 2 billion. Now the market cap is even lower than that. This means that the last favorable news of burning from 100 million to 21 million, along with the acquisition by ICE, has not reflected at all in the price; the market is not buying it. Why is this happening? The liquidity of this coin is too poor, and there is basically no large capital participating in OKB; it's just a group of retail investors continuously giving up their chips in a long period of volatility, resulting in high buying and low selling. Although the data is quite poor, I actually see it as an opportunity because this coin is backed by the second-largest exchange and has almost no room to fall. Currently, I have a good outlook on the route that xlayer is taking, including RWA, offline payments, and web3 wallets. Xu Mingxing has a technical style that is steady and solid. The upcoming prediction sector and the collaboration with ICE for US stocks on-chain will definitely be favorable news. So my suggestion is to buy a small position as a lottery ticket and wait for a favorable news to take off.

MicroStrategy on ETH I used to always focus on MicroStrategy buying Bitcoin, and I took a quick look at the current situation with Bitmine. Bitmine (BMNR) MicroStrategy (MSTR) Amount Held 5.07 million (ETH) 818,000 (BTC) Holding Ratio 4.21% 3.9% Company Market Cap 11.5 billion 57.3 billion Debt Very low debt ratio, mainly financed through equity High leverage (over 8 billion in debt) Asset Class Interest-bearing assets, staking generates annual returns of 260 to 360 million Non-interest-bearing From the comparison, MicroStrategy currently has a larger scale and a rich variety of financing methods, but its high debt is also a concern for Bitcoin believers. Bitmine currently has very low debt, and with staking ETH generating interest income, it has a stronger intrinsic risk resistance.

ETH on-chain data explosion I just saw a set of data showing that ETH's trading volume reached 200.4 million transactions in Q1 2026, marking the first time Ethereum has surpassed 200 million in a single quarter. This is a 43% increase from the fourth quarter of last year. As someone in the crypto space, I have a lot of doubts because this data contradicts my own feelings; the crypto market is almost inactive now, and ETH's price is quite sluggish, yet the on-chain trading volume has hit a new high, making this data even more real during the current off-season. This indicates that ETH has completed its transformation from a big casino in the crypto space to a financial infrastructure. Currently, there are three core driving forces on the ETH chain. 1. L2 layer (arb, base, opt) transaction data packaging and settlement 2. Stablecoins, with stablecoins on the ETH chain reaching a new high of 180 billion 3. RWA asset tokenization, with significant activity in government bond tokenization driven by major institutions on-chain. After this bear market, ETH has completed its identity transformation, fully depersonalizing and evolving into a decentralized computing layer, transforming into infrastructure to build momentum for the next bull market. ETH's narrative has shifted from a deflationary story to one of ecosystem and foundational financial infrastructure. Currently, it seems that ETH's transformation has been successful; viewing it as a company, its moat is already very deep, and holding and staking it long-term will be a good asset. #ETH #RWA

xlayer rewards In the past few days, there have been interest rate subsidies for Aave staking on xlayer. If you have idle OKB, you can stake it to earn some returns and recover a bit during the bear market. #okb

What stage is the bear market in? I would like to talk to you about many groups that have left the scene sadly from my experience and experience. From the last crazy bull market in the currency circle to the present, what groups have left: 1. Mainstream currency believers who carve boats and seek swords In the past, when the bull market came, mainstream coins would start a carnival, so they firmly believed that holding would have a future, such as DOT, ICP, FIL, ADA, ORDI, AVAX, etc. I have many friends who believe in these coins from the last bull market and insist on holding them, and in the end, their assets shrank by more than 90%. 2. Contract players The market from 23 to 25 years is particularly difficult to do, and all kinds of scams and extreme markets have blown up their positions. At that time, ETH fell to 1600, and many low-power contract players were also killed. 3. Arbitrage wool group This group is a very smart fund in the currency circle, and they are very cautious not to bet on the long and short contracts in the market, but to look for arbitrage opportunities to earn money from various exchange wool funding fees and contract spreads. This group is known to everyone who suffered heavy losses in the 1011 Binance incident, and they also fell. 4. BTC Ether believers with OTC leverage This bear market is too long, and many people have no cash flow, and they are still taking online loans. Many people couldn't hold on to the long shock and finally handed over their chips. Current survivors Those who still hold positions until now are the ones left with large investors doing asset allocation and believers with cash flow income. So far, there are very few active groups in the cryptocurrency circle. Even old leeks who have experienced a few bulls and bears have begun to doubt the market and their own positions. But the more this happens, the closer it gets to the bottom. The currency circle has existential value, and the cycle will definitely come back, don't fall before dawn. After being in this circle for so long, what I am most afraid of is not losing money in the bear market, but that I am not in the car when the bull market comes. If the mentality collapses, it will really collapse.

What kind of company is MSTR? Previously, I only knew that this company was not focused on its main business, constantly borrowing to buy BTC, and has now accumulated over 800,000 coins. Yesterday, I wanted to understand how this company operates. First, let me introduce how impressive MSTR is now: 1. Bitcoin holdings of 815,000 coins, accounting for 3.88% of the total supply. Due to many lost coins, I estimate that their actual holding percentage is likely higher. 2. Market capitalization of $59.6 billion, a component of the NASDAQ 100 index. 3. Active trading on NASDAQ is at a ceiling level, consistently ranking in the top ten. After looking at the data, I realized that it is no longer just a simple company holding BTC; essentially, it is a compliant secondary issuer of Bitcoin operating in the U.S. stock market. I won't go into the details of MSTR's complex financing products here, as they are a bit technical and many people may not like to read about them. Instead, I will briefly introduce the current situation from the perspective of index components. As long as it becomes a component of a major U.S. stock index, there will be passive allocation of index funds, which means a continuous influx of investment funds buying Bitcoin. So far, MSTR has entered the NASDAQ 100 index, which brings in passive funds of $6 billion. This is equivalent to a $6 billion buying pressure for Bitcoin. Next is a heavyweight index, the S&P 500. This index can be considered a holy grail; if MSTR enters this index, it means that MSTR will officially be part of the U.S. national fortune, bringing about $5 billion in passive buying pressure. At that time, almost all retirement accounts will indirectly hold Bitcoin. This is just the most basic benefit; the endorsement effect of entering this index is also of nuclear bomb level. So far, MSTR has met the conditions for entering the S&P 500 in terms of market capitalization, liquidity, and compliance; the only issue is stable profitability. The S&P 500 index requires that the total net profit for the last four quarters must be positive. Due to the recent Bitcoin correction, MSTR recorded a huge paper loss last quarter. Currently, it does not meet the conditions for entry, but the hope for future entry is still significant. If Bitcoin steadily rises, MSTR has a great chance of aiming for the S&P 500 index by the end of 2026. MSTR can be said to have already secured its ticket to the S&P 500; now it just needs to pass the time and profitability tests. When that happens, it will be a super positive development for Bitcoin to enter the global large capital vision. #BTC

Increase account earnings Bear markets can be tough, but I really like the dual currency win product from OKEx. I use it a lot, and I think it's very suitable for beginners to try out. I remember when I first started trading, my biggest problem was impatience. I was worried about missing out, so I rushed in to buy at high points, and then when the price went up, I couldn't hold on and ended up selling at a low price. The concept of dual currency is actually quite simple. Let's start with buying low. Suppose the price of ETH is 2000, and you want to buy the dip but are worried it might continue to fall. You can choose to buy the dual currency at 1800 the day after tomorrow, which means if the price drops to 1800, your purchase will be successful. If it doesn't reach 1800, you'll receive an annualized return of 20% in USDT (the data is just an example; the specifics depend on the product you choose). Selling high is the reverse logic. If you have ETH and the current price is 2000, and you want to sell for a higher price, you can choose to sell your ETH at 2200 the day after tomorrow. If the price reaches 2200, your coins will be sold. If it doesn't reach that price, you'll receive an annualized return of 20% based on the value of your ETH. That's a brief introduction. Anyway, the logic I use mainly aims to increase my asset returns, which is very suitable for volatile markets. Allocating a portion of my assets to this makes it much more comfortable, and bear markets aren't as hard to endure.