$0.05
24h
-15.47%
9 Oct, 10:46
Oracle protocol funding treasury buybacks with revenue
Bullish-37.03%
AI Summary
The author expresses a bullish outlook on the crypto secondary market, noting that established tokens are adopting pragmatic strategies like buybacks and narrative upgrades, specifically highlighting STRK, PYTH, and STX as fundamentally improving assets suitable for buying on dips.
The secondary market is showing strong vitality. Despite the sharp drop last night, today's rebound has been solid, with many coins even experiencing aggressive rallies.
Many older coins are becoming more pragmatic in how they attract market attention and buying interest. It's no longer just about talk; they are releasing positive news such as token buybacks and narrative upgrades to drive prices up in tandem with the secondary market. This captures market attention, but traders will only step in if they see genuine execution.
$STRK: Narrative upgrade for an L1 post-quantum privacy public chain, along with technical network upgrades, increased BTCFi subsidies boosting TVL, etc.
$PYTH: Oracle network, with a portion of revenue going into the treasury for token buybacks.
$STX: Increased TVL via BTCFi + continuous price appreciation in the secondary market.
Looking at some speculative coins, we see aggressive rallies followed by pullbacks to shake out weak hands, then another rally. It's no longer just a one-way move; the duration of shakeouts has increased, offering more surprises for diamond hands.
For example, recent ones like $USDT, $LOKA, $OGN, $RLC, etc.
When I used to trade the secondary market, I only looked at OI (Open Interest) data growth. Now, I also pay attention to fundamental changes. If fundamentals are improving, I can buy the dip when the pullback reaches a good level, sell during aggressive rallies, and buy again on subsequent pullbacks.
Binance delisted another batch of projects today, while listings on other exchanges are scarce. Some shell companies and old projects are indirectly signaling that they need to make moves, otherwise, they face the risk of being delisted.
Every major pullback is an opportunity to buy the dip.