以 pumpfun 为代表，公链拉盘锁定流动性的这套打法，如何形成了一场声量和流动性的共谋？对散户和项目方来说应该如何理解和判断？
昨天 $APE FOMO 效应引发了一波公链 pumpfun 热潮，这让我产生了一些思考。重新阅读 @thecryptoskanda教授的理论后，我用自己的语言理解了当前各链 pump… https://x.com/i/web/status/1848148289134420370 

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Here is the English translation:

How did the approach of locking liquidity on the public chain, represented by <pumpfun>, form a conspiracy of volume and liquidity? How should retail investors and project parties understand and judge this?

Yesterday, the $APE FOMO effect triggered a wave of <pumpfun> fever on the public chain, which made me ponder. After re-reading the theory of Professor @thecryptoskanda, I used my own words to understand the current <pump> on various chains... https://x.com/i/web/status/1848148289134420370

The release of this new regulation marks a historic leap in the attitude of Chinese regulators towards virtual assets, shifting from a "complete ban" to a "combination of restriction and guidance."

Article Author & Source: Guofeng Law Firm On February 6, 2026, the "Notice on Further Preventing and Handling Risks Related to Virtual Currencies" (Yinfa [2026] No. 42, hereinafter referred to as "Document No. 42"), jointly issued by eight ministries led by the People's Bank of China, and the "Regulatory Guidelines on the Issuance of Asset-Backed Securities Tokens Overseas by Domestic Assets" (hereinafter referred to as the "Guidelines") simultaneously issued by the China Securities Regulatory Commission, have triggered significant reactions in the legal and financial circles...

Breaking News! The Year of China's RWA: A Compliant Channel Opens for Trillions of Yuan in Domestic Assets to Go Global

BitMEX co-founder Arthur Hayes wrote that the recent Bitcoin crash may stem from traders' concerns about IBIT (BlackRock) […]
The article, "Arthur Hayes Speculates on BTC Crash Cause: 'Institutional Hedging Operations': IBIT Options Explode $900 Million," was originally published on BlockTempo, the most influential blockchain ABMedia media.

Arthur Hayes speculates that the reason for the BTC crash is "institutional hedging operations": IBIT options saw a surge of $900 million.

Unusual trading in BlackRock’s bitcoin ETF, iShares Bitcoin Trust (IBIT), has led traders to speculate that this week’s sharp Bitcoin drop may have been triggered by one or more Hong Kong–based hedge ...

Bitcoin Selloff Sparks Hedge Fund Speculation Around BlackRock ETF

三盘理论的含金量还在提升
Tagging gigantic brains:
@thecryptoskanda
@jason_chen998
@0xNing0x
@xingpt
@cryptohaiyu
@hotpot_dao
@0xminion
@Ryanqyz_hodl
@GarlamWON
@Mirro7777
@LeotheHorseman
@roger9949
@0xkuromi
@ahboyash
@benhwx

The value of the three-disk theory is still increasing
Tagging gigantic brains:
@thecryptoskanda
@jason_chen998
@0xNing0x
@xingpt
@cryptohaiyu
@hotpot_dao
@0xminion
@Ryanqyz_hodl
@GarlamWON
@Mirro7777
@LeotheHorseman
@roger9949
@0xkuromi
@ahboyash
@benhwx

资金出逃数据 from @0xCoumarin
龙一崩了，全线崩了
https://x.com/0xCoumarin/status/1848106057798758567?t=qUKlvKajCIk1Bk53YLPwUg&s=19

Data on capital flight from @0xCoumarin
Longyi collapsed, and the entire market collapsed
https://x.com/0xCoumarin/status/1848106057798758567?t=qUKlvKajCIk1Bk53YLPwUg&s=19