187/1000 "The market has cooled down, is it still worth it to invest in perp?" 1️⃣ Market Low: Bitcoin has dropped below MA200 Today, Bitcoin fell below MA200, hitting a low of 10.35w. Market sentiment is clearly low, and the opening data for new projects is also weak: The major project from the last two days, @MeteoraAG, only reached 1B; Today's ZBT opened at 600 million, and has now dropped to 400 million. Currently, the main risk in the Perp track is time: @Lighter_xyz, @edgeX_exchange, etc., are expected to have TGE in about 2 months, If the market is unstable at that time + leading Hype, Aster drops, The entire track's valuation system may be adjusted downwards. Current fdv valuation reference: Hype: 35B Aster: 9B Control the cost of points at 2B (ideally below 1.5B), And still maintain a safety cushion. Hope the market stabilizes, Q4 has a bunch of major projects TGE, So everyone can earn more and go home for the New Year 🧨. 2️⃣ @Aster_DEX wrap-up: Break-even with a slight profit, the next one will be better Today, Aster finally completed the liquidation, The overall result is—break-even with a slight profit. This journey of reversals and more reversals, Is like a microcosm of this industry: Chaos and opportunity coexist, emotions and logic intertwine. Being able to wrap up smoothly is already enough to be grateful. It's over, the next one will be better. 3️⃣ Human warmth: The happiness of a post-meal walk In the evening, I had dinner at Sister Gao's @ligaoxing_ house, After dinner, we walked and chatted together. Sister Gao's strengths in the dimension of "people" are getting longer, And her circle of sisters is becoming more and more outstanding. I'm happy for her. Talking about the past, Suddenly, there was a particularly clear sense of happiness: Grateful for this industry, Grateful to be able to walk alongside excellent partners like Xue and Qiu Xing.