A dynamic review of the cryptocurrency in the past year (Part 1)

Foreword: This year is the year I spent more time in the cryptocurrency field. In the past, I mainly focused on Taiwan stocks and U.S. stocks. I have played with derivatives, but I mainly focused on understanding the rules and paying tuition fees, and I did not have in-depth inquiry.

This year, I have only officially put my efforts into cryptocurrencies, but my response is relatively slow, so you can see below that I am taking a step by step and always lagging behind the market. Of course, the rate of return is the same, although it is still acceptable. The pay is positive, but it is dangerous at a high level. Those who cannot make big money in the bull market should also think about the strategy when the bear market comes. If the loss is slower than the market decline, the long-term pay may still be considerable. I am very concerned about my total assets. Volatility, so there will still be some allocations. Of course, people’s energy is limited, so the stocks have shifted to large-weight stocks and ETFs, and they don’t need to spend time.

First review what I have observed in the cryptocurrency market this year, and at the same time I am in a daze (this is what I see in my eyes, it doesn't matter if someone thinks it is not, I can't see the whole market pulse)

Me in Season 1: Study FTX and Luye Lending, understand futures arbitrage, spend time on operations and fine-tune strategies

Market in the first quarter: ETH began to be blocked as transactions began to rise, and gas began to rise, driving the price of the currency to rise. In the process of finding a solution, a large amount of funds crossed the chain to the BSC chain, and the BNB Binance Coin also drove the rise of the ecological chain, and CAKE became the dazzling star in the crowd.

Me in March-May: Finally realized that DEFI doesn't have to be a scam, he could be a valuable industry. Gradually transfer funds from the exchange to the chain, learn the application of DEFI, and buy some cakes and BUNNY. Learn about the leveraged farm of Alpaca Finance and the operation of machine gun pools such as BEEFY/AUTOFARM

Market from March to May: As the rise of BSC has reached the stage, POLYGON and FTM have also ushered in a wave of outbreaks. In addition to the super fragrant head mines that can be mined, the public chain tokens have also risen dozens of times. After a period of competition, the market chose POLYGON to temporarily put down FTM.

Before and after 5/19: This year was a very ruthless wave of killings. I was in the gym that day and witnessed a super drop. Fortunately, because of my slow reaction, most of my positions were still stablecoins, and the loss was not large. At night Just follow the big guy to move bricks, add or subtract to make money and subsidize losses. However, when PANCAKEBUNNY showed it directly the next day, the token once fell by 99%, from a high of nearly $700 to a drop of $1. This is the hardest part of my position.

Market before and after 5/19: The market wailed for a large number of liquidations due to the super-destroyed market. In order to avoid various chain liquidations, or they had their own considerations, various toilet systems were shut down at one time. Investors are scolded and scolded, but without supervision, everyone is like a lamb to be slaughtered. The exchange can do whatever it wants. Without RUG, it is already very face-saving.

June-August: On June 3rd, I invested part of the IRON1 generation farm (on POLYGON), which is a stable currency with a mortgage algorithm. The high APR and the algorithm are partially mortgaged. I invested in this game. The stable currency project of this farm FORK FRAX is in After the bear market, it became a safe haven for many funds. The project TVL once reached 2.54B, occupying half of the country on POLYGON, while the market value of the IRON stablecoin reached 800M, which was close to PAX, and TITAN once reached 66 yuan. UNPEG stabilized after that, and I went to sleep with the belief that a drop could make the chips change hands, and the team’s settling was not bad, which would make the whole system healthier. On 6/17, IRON changed overnight. After TITAN and IRON stabilized, the team did not stop and continued to restock, causing panic and stampede in the market. IRON directly decoupled. TITAN fell into shit and fell 99.999999. After doing a series of shit operations, I won't go into details, it's not a decent method anyway. I'm disappointed by this, after all, market sentiment may be difficult to control, but the team can still feel decent behavior. Although it is very sad to lose money, the money that should be made still has to be made. I just need to keep up my spirits and continue to study the market. After that, I went to various machine gun pools one after another. There was once a large number of DINOSWAP head mines of VC platforms, and ANYSWAP's FTM liquidity mining. And IRONV2, although I despise what the IRON team has done, I still have to earn the money that I should dig. Since they are making money with garbage, the chance of RUG should be relatively low. Anyway, I will look for V2 after I earn it. The next wave of mines

Market in June-August: The games on FTM are slowly fermenting, and the public chain that is about to get out of the track is rescued. In July, SOLANA's stable currency project SABER was launched without too many people's attention, while SBR In August and September, it became a hundred times more coin and slumped. AVAX opened the AB bridge, BENQI and JOE were in the limelight for a while, and a lot of money poured into this emerging public chain, but I, who had no money on the mainnet, could not walk the AB bridge . Can only wait for ANYSWAP to open, so missed the opportunity. And chain game projects such as AXS are also slowly sprouting in this wave of bears.

Me in September-December: Funds were quickly rotated on FTM, AVAX and SOLANA, I dug SUNNY and SABER on SOLANA, and IDO who invested in Parrot became my family. After that, AVAX's VEE exploded every other week and got a flash loan I spent 80 million US dollars. Fortunately, I didn’t burn me this time, but it made me realize why infrastructure like CHAINLINK is expensive and why it is important. Then AVAX RUSH starts, CURVE head mine, AAVE head mine, BANKERJOE head mine. 10/8 FTM's GEIST loan agreement was put on the shelves, and I rushed to dig the first mine, and then came back to BANKERJOE. Joe has been able to support it for a long time. In the middle, he dug the first mine on SOLEND, but the currency price fell into shit and was buried directly. 11/ 8 I found that the transaction was a little blocked on AVAX. I ran to see the BLIZZ on the chain. I checked Twitter and knew that it was done by the GEIST team, so I quickly entered the market. CRONOS went online, and Huo Ji Huo rushed in again. I also experienced events such as SNOWBANK SNOWDOG in the middle, but I invested very conservatively in the OHM series, so the damage was still within the controllable range, and then the end of the year was over before I knew it.

The market from September to December: In fact, the cryptocurrency sector has grown to this time, and there are already many sectors, and DEFI is no longer the same as last year. OHM, TOMB, chain games, cross-chain bridge, metaverse, sandbox, NFT, public chain competition, there are so many topics that I don't know if I have read half of them. In the second half of the year, the three public chains of SOLUNAVAX will gain a lot of market The attention of AXIE has been greatly increased, and AXIE has slightly cooled down, but the market is looking for the successor of AXIE just like the successor of UNISWAP, and the funds are constantly rotating. Backed by Binance, BSC has become a playground for beginners, but it is also a paradise for scamming RUG flash loans. There are countless funds for them to defraud. And the most connected with the real world is NFT and the Metaverse, and the linkage with the stock market has set off a wave of the Metaverse, and a large number of KOLs rely on the issuance of JPG to earn the hard-earned money of their filial sons.

The above is the narrative part. It should be a bit messy. It may be incomprehensible to beginners. , looking back at the place where her focus may not be, I think it's pretty good.

In the next article, I will explain what I have seen and experienced. I am a little tired from this article.