Pumpfun is reportedly planning to issue a token, and there have been rumors about this for some time. Previously, many partners were trying to get an airdrop from this project, hoping to receive it. However, based on the current information, it seems that they will directly adopt a Dutch auction method for token issuance, rather than directly airdropping to users. Although the Pumpfun team has made some clarifications, it appears that they will likely issue a token.

Over the past year or more, Pumpfun has earned over $570 million in trading fees alone, which is still not enough, and they want to continue to suck blood through token issuance. It seems that many people (teams) now want to try to make a big catch during the possible market conditions at the end of this year.

In fact, we discussed this issue in our previous article: Currently, many projects are accelerating their TGE (which can be directly understood as token issuance), and if I'm not mistaken, the last time various popular projects concentrated on accelerating TGE was around September and October 2024.

Additionally, in our previous articles, we have also sorted out that this bull market is essentially driven by ETFs, while Altcoins, especially MemeCoin, have occupied most of the hotspots, traffic, topics, and liquidity in the entire process. In fact, the launch of the presidential MemeCoin TRUMP this year has, to some extent, marked the cyclical peak of most MemeCoin, because no one or organization can have a greater influence and appeal than a president issuing a token, and the subsequent celebrity token issuances are merely following suit.

If you find that some exchanges are now frantically listing some projects with a certain degree of heat, topicality, or even previous CX suspicions (euphemistically speaking, with a certain mass base), then it is highly likely that they are following the same pattern as the current acceleration of TGE by various project parties, hoping to catch a big one during the possible market conditions at the end of this year.

At the same time, as most retail investors are probably already tired of participating in on-chain PvP battles (where early birds and insiders can make money), with the cyclical peak of MemeCoin having passed, even in the subsequent Altcoin market, MemeCoin concepts may still have a higher probability of rebounding first, but it is unlikely to see the previous large-scale MemeCoin rallies and overnight wealth creation scenarios, as many people have become fatigued, trapped, pessimistic, or even experienced post-traumatic stress... unless there is a massive influx of new users due to a major event (such as China declaring this legal, but I believe this is 100% impossible).

If you still have the energy to participate in the MemeCoin narrative, then you may need to be more strict in risk management and position allocation, because in the last bull market, you had 3,000 coins to choose from, but in this bull market, you may have 30 million coins (including on-chain, and it may reach 100 million by the end of the year) to choose from.

Taking the aforementioned Pumpfun as an example, as one of the popular MemeCoin one-click issuance platforms (officially launched in January 2024), the platform currently still has 40,000-50,000 new token issuances per day, which will undoubtedly further dilute the already insufficient liquidity of Altcoins.

And don't forget, Pumpfun is just one of the many token issuance platforms. Therefore, if you continue to consider the problem based on this logic, then you need to appropriately lower your original expectations, because under this cycle, some of the previously most commonly used indicators (such as TOTAL2, TOTAL3, etc.) do not fully cover the complete on-chain data, and this issue has also been mentioned in our article last week (February 3).

My original plan was to consider fully clearing the remaining Altcoin positions in batches when the TOTAL2 market cap reached around $20 trillion, but this month I have decided to make some necessary adjustments based on my personal risk preference and time availability.

The development of things is always cyclical. After experiencing prosperity (bubbles), many people (funds) may choose to return to those blue-chip projects with better fundamentals and clearer development visions.

Remember, in a liquidity market, only by doing a good job in risk and position management can you have the opportunity not to become the sacrifice of others' liquidity withdrawal. At the same time, you also need to learn to let go of and face the past losses, and try to broaden your vision to the future.

Powell said the US economy is strong, and the latest US inflation data (CPI and PPI) will be closely watched in the next two days.

Grayscale has recently applied for Altcoin ETFs such as SOL, DOGE, XRP, LTC, and ADA. Analysts believe that the approval probabilities are: LTC 90%, DOGE 75%, SOL 70%, XRP 65%. Which one do you think will be approved the latest?

MicroStrategy continues to buy Bitcoin.

On February 10, MicroStrategy publicly stated that they had purchased another 7,633 BTC for approximately $74.24 million, at an average price of $97,255 per bitcoin. As of now, MicroStrategy holds 478,740 BTC, with an average purchase price of $65,033 per bitcoin. As shown in the image below.

- The Ethereum Foundation is starting to take action

The Ethereum Foundation has transferred 50,000 ETH to a multi-signature wallet, and these funds will be used to support and participate in the construction of the Ethereum DeFi ecosystem. As shown in the image below.

In addition to the above, there are a few other things worth noting in the past few days:

- Unichain mainnet has been launched

- Berachain (BERA) continues to launch social airdrop claims

- Story (IP) airdrop

- RedStone Oracles may have a TGE and airdrop this month

- LiveArt may have a TGE and airdrop this month

- Arkham (ARKM) Season 1 airdrop claims

- B3 has launched Season 1 airdrop claims

- Monad testnet will be released this month, and there will be an airdrop

- AAVE will be deployed on Sonic and Linea this week

- FTX small claims will start around February 18, and large claims (over $50,000) will start in the second quarter, totaling approximately $11 billion to $13 billion. How much do you think will return to the crypto market?

- It is said that OpenSea may also issue tokens in the second quarter of this year.

That's what we'll talk about today.