yesterday was the most brutal liquidation event in crypto history, and it's not even close
what was the outcome for $USELESS coin?
- $145 million in on-chain volume â the highest it's ever done
- remains the third most traded on-chain memecoin, after $TRUMP and $FARTCOIN
- hit a new ATH in number of holders
we've seen this story play out before, and it has always resolved in one direction: higher.
the kind of brutal liquidation event we had yesterday often resolves in one of two ways:
- a new parabolic move toward new ATHs after a bit of cooldown
- a bear market
while i happened to be a victim of yesterday's liquidation event, i do not think it leads to a bear market
if anything, i believe this has provided an opportunity for many to scale into high-conviction plays at a discount... and i continue to believe we'll be seeing new ATHs on majors and strong alts this quarter â including $USELESS
it might take a while for things to cool down before we move back up, or it might not â depending on the dictates of Emperor Trump's mood
IMO, the best move is to start DCA'ing into high-conviction plays on a discount, and be extremely careful with leverage. or best, avoid it altogether
the data continues to point to $USELESS being THE memecoin play to watch this quarter


33.06K
360
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.