Over 100,000 Followers: Investment Wisdom in a Bear Market! Exclusive Joint Interview Project with Chinese KOLs Revealed! (Part 2)

《》and《Daily Coin Research》collaborate on a special project! Collecting a group of well-known KOLs in Asia with over 100,000 followers on Twitter, to interview them on their perspectives regarding the current market trends, strategies, and views on regulations. How to find the next market opportunity in a dull bear market? What are the entry points to research the next 100x coin in a bull market? Let the most frequent "Degen" on Twitter share their insights with you!

This special project is divided into two parts.

• Part 1 KOL lineup: Coinversation's Xiaona & Bee, Lao Bai, Alvin, 2lambro, Raccoon
• Part 2 KOL lineup: Woody, Bitman, Lily, JamesX

Chinese KOL Joint Interview (Part 2)

Q1: What do you think the trend of cryptocurrencies will be in the second half of 2023?

Woody

Observing the market's volatile trend, which involves a game of existing funds, it is not wise for intelligent individuals to easily engage in the market, as they might be played as fools. The expectation is that there may be a hype around the halving next year near the end of the year, which might improve the situation at that time.

Bitman (NFT Theme!)

Since the launch of Otherdeed by Yuga Labs in May last year, the NFT market's trading volume has been declining month by month. However, the NFTFi track continues to grow. NFT lending platforms led by Paraspcae, BendDao, NFTFi officially reached an all-time high in late April in terms of outstanding amounts. The NFT contract trading market, led by NFT Perp, is also in a slow growth phase. Although the overall NFT market's trading volume continues to decline, the NFT lending amount and options trading volume are increasing. With more protocols competing to release higher capital efficiency for NFTs, it once again shows that NFT Finance will be one of the trends in the second half of 2023.

Lily

If you want to assess the overall bull and bear market of the cryptocurrency market, you need to see if the market's liquidity is recovering. Stablecoins have been continuously declining over the past year, and trading volumes have been poor. To assess the overall market, you can always pay attention to whether this indicator shows a trend reversal. I personally am more looking forward to a regional bull market, such as new narratives or many anticipated heterogeneous chains launching their mainnets in the second half of the year or actively developing new ecosystems. Overall, I believe the market will still be in a challenging bull start and bear end phase, where actively seeking alpha is necessary to make profits.

JamesX

No comments.

Q2: Which blockchain track are you currently focusing on?

Bitman

Bitcoin Ordinals:

Based on Ordinals, all data of Bitcoin NFTs are stored on the chain, making them more valuable for long-term collectors compared to most Ethereum NFTs. Additionally, due to the serial number differences in Bitcoin NFTs, some users consider earlier serial numbers to be rarer, making them a unique feature of Bitcoin NFTs.

Also, due to the on-chain storage and different serial number characteristics of Bitcoin NFTs, the number of engravings on the Bitcoin chain continues to grow,

reaching approximately 400,000 daily generated engravings ATH on 5/7. Since Ordinals has been online for less than half a year, it is a short-term hot money speculation or a paradigm shift in NFTs, which still needs time to prove.

Crypto Art

While the PFP NFT market has seen low trading volumes, on 5/20, Sotheby's auctioned Crypto Art collections from Three Arrows Capital 3AC, garnering nearly $2.5 million in revenue, attracting the attention of NFT players and driving overall sales growth for Art Blocks. The auction included pieces like Fidenza #725, Ringers #375, and Autoglyph #187 created by Larva Labs, with Fidenza #725 selling for a high of $1,016,000. As a result, in the week following the auction, several artworks such as Fidenza, Ringers, Squiggles, among others, were sold at high prices.

Lily

NFT-Fi:

The most interesting aspect of the previous bull market was the explosion of NFTs, and Blur has been providing better liquidity for NFTs over the past year. I still have high expectations for NFT in the next cycle, stemming from its collectible nature, establishing an ecosystem around NFT, such as derivatives and lending, which can enhance the intrinsic value of NFTs and create a larger market for financial products.

Wallets:

For those who frequently trade on the chain, there are often inconveniences. For instance, forgetting the seed phrase means losing access, or requiring multiple confirmations for liquidity (without knowing what was confirmed). Over the past six months, I have noticed the Ethereum Foundation's emphasis on this aspect, with many hackathons promoting solutions and numerous wallet projects emerging to address these issues. It would be interesting to come across interesting and investable wallet projects!

SocialFi:

I believe that the players active in the blockchain space constitute a niche market. Regardless of the lifestyle and social attributes, existing mainstream social software can organize these users in a more interesting manner to explore new ways of interaction.

JamesX

LSD/LSD Fi, after the DeFi track shifted to PoS following ETH's upgrade, brought about coin-based returns based on Ethereum's underlying staking. Therefore, the entire LSD/LSDFi track is flourishing, reminiscent of the DeFi Summer. Lido / SSV / Pacman.

Q3: How do you manage your investment portfolio and what is your logic for adding/reducing positions?

Bitman

As a player mainly in Ethereum NFTs, I allocate 70% of my assets to NFTs, and the remaining 30% is held in Ether. The Ether holding usually remains around 30%, so the operation of adding/reducing positions mainly focuses on NFTs.

Here are some logics for adding/reducing NFT positions:

• Long-term bullish, short-term profitable
• Long-term bullish, short-term stagnant: Consider hodling if there is a lack of liquidity, otherwise choose to cut losses
• Long-term bullish, short-term profitable: Take profit to recover the initial investment, hodl the rest
• Long-term neutral/bearish, short-term profitable: Take all profits
• Long-term bearish, short-term stagnant: Cut losses
• Only add positions when the floor price shows a reversal. In the current NFT market, it is recommended to trade on the right side, meaning not to keep buying when a certain NFT project's floor price continues to decline. Conversely, when the floor price rises for several days and shows a reversal, then consider adding positions. You can also compare the probability and strength of price increases of different NFT projects to choose which NFT project to add positions to.

Lily

I typically allocate 90% of my assets to mid to large-cap projects, with the remaining 10% dedicated to high-risk, high-return ventures such as low market cap projects (below 50m market cap). I establish a reasonable valuation based on comparable projects or psychological points like whole numbers or breaking zeros, and timely reduce or add positions. Even if I am optimistic about something, I still conduct risk assessments.

JamesX

Long-term dollar-cost averaging for blue-chip tokens. For altcoins, I look for short-term alpha in familiar areas, while also monitoring the overall market cycle, controlling risks, and avoiding FOMO at peaks.

Q4: How would you operate with $1,000 and $100,000 respectively?

Bitman

$1,000: Convert $1,000 into 0.56 $ETH at the exchange rate at the time of writing, then only engage in free mint projects or mint prices < 0.05 $ETH for NFT projects that are promising. Look for opportunities to flip and accumulate profits. Additionally, if there are promising shitcoin presales, allocate 0.1-0.2 $ETH to participate.

$100,000:

• $30,000: NFT Usage

  Exchange for 16.8 ETH (at the exchange rate at the time of writing), because I believe the current prices of MAYC and $APE are relatively low, I will buy one MAYC for 14 ETH and 2,042 $APE, and stake at ParaSpace to earn $APE and potentially future airdrops. The remaining $ETH will be kept for participating in promising NFT projects' primary sales in the future.

• $30,000: DEFI Usage

  Due to my confidence in the LSDFi and Pendle ecosystem, I will invest $15,000 in Pendle Finance. Additionally, $15,000 will be placed in Radiant Capital for cross-chain lending and potential Layerzero airdrops.

• $20,000: IDO Usage

  To participate in future promising coin IDOs.

• $20,000: Mainstream Coin Usage

  Monthly dollar-cost averaging of $BTC and $ETH, each $1,000.

Lily

If I had a small capital today, of course, I would go all out! If I only had $1,000 today, I would actively look for potential projects that have not yet been listed on the chain, seeking opportunities for multiples. With $100,000, I believe the current allocation can be referenced, with the majority of funds placed in the top 200 projects, and about 10% invested in new projects to go all out.

Q5: How do you stay informed?

Bitman

Almost all first-hand information comes from Twitter. I scroll through Twitter whenever I have free time, following the movements of major influencers and hot ecological projects, and occasionally check my saved Twitter lists.

Lily

I find new projects on Twitter, engage in research by liking posts, and follow active bloggers who are actively pursuing new projects to train my algorithm. I also keep an eye on what my group members are discussing and chasing, actively researching anything unfamiliar, as information gaps can present money-making opportunities!

JamesX

I gradually build my efficient information collection framework, continuously filter quality data sources, and utilize the tools provided by platforms to categorize and collate different types of information sources. Based on importance, I allocate time each day to gradually read through them.

Q6: What are your thoughts on the increasing regulatory pressure in the United States and the gradual opening up in Asia?

Lily

I believe that this aspect makes me more optimistic about the performance of Asian projects in the next cycle. Over the past two to three years, the dominance has been in the hands of the United States, and due to geographical factors, American venture capitalists can access US projects earlier, and the news usually reaches the Chinese-speaking community after some time. Under recent regulatory pressures, American development teams are relatively conservative, while newly incubated projects in the Chinese-speaking community are more actively building during the bear market. I hope that these hard-working teams can flourish in the next bull market!

JamesX

Despite the increasing regulatory pressure in the United States, the overall environment is still more lenient and open compared to Asia. Therefore, the dynamic changes on both sides are normal, as they constantly seek a balance between regulation and industry innovation based on their own circumstances. The industry's rapid development makes it challenging for regulators to keep up completely, making it difficult to find a true balance in the short term. Therefore, I expect significant swings in regulatory policies in the future.

Interviewees Introduction

• Woody: Entered the cryptocurrency investment market in 2017, Evernew Capital General Partner
• Bitman: Founder of BITMEN and REVIVER projects, focusing on PFP NFTs and Crypto Art fields, advocating for ape in first, then research. Invited for an exclusive interview by the largest crypto art platform SuperRare and served as a guest on Binance NFT's Beauty Client.
• Lily: CMO @CMO DAO, HotpotDAO
• JamesX: DAO^2 Research Founder, Web3 Advisor

Special thanks to Daily Coin Research for assistance in production!

Review of the previous interview!

Over 100,000 followers, investment wisdom in a bear market! Joint interview plan with Chinese KOLs exposed! (Part 1)