I have been staring at the K-line chart of @undefined for a full 3 days, and today I can no longer hold back what I want to say.
First, look at the daily chart, $XPL dropped from 0.1475 all the way to 0.0700, with almost no decent rebound in between. I have 3 friends who bought at around 0.12, and now they are all complaining in the group. But starting yesterday, a bullish candle directly pulled up by 16%+, and the trading volume increased from 50.9M to 94.7M, which is not something retail investors can drive. Now looking at the weekly chart, it has been declining from the historical high of 1.6930, and now it has been consolidating around 0.07 for almost 2 weeks. The EMA(7) has finally started to turn upwards; this is the most standard 'W bottom' pattern I have seen this year.
I personally went all in with 2000U at 0.082. At that time, 5 people in the group said I was crazy, and now they are all asking me if they can get in again. In fact, I'm not a gambler; I've done the math: the transfer cost of Plasma's stablecoin is 1/100 of Ethereum's, and the speed of arrival is in seconds. Now, there are already 12 DeFi protocols deployed on it. Although the TVL is only 80 million, it has grown by 47% compared to the previous period, which is the real value support.
Many people only look at K-lines and do not consider the underlying ecosystem. Yesterday, I flipped through 23 pages of GitHub commit records and found that the core team updated 11 functions in the past 7 days, including optimizations for the cross-chain bridge, which directly resolves the users' most painful issue of slow transfers. As $XPL serves as the staking and governance token, as long as the ecosystem thrives, the token price will naturally rise.
Many people are still hesitating now because they were scared by the previous crash. But I want to remind you: history always repeats itself. In 2023, ARB also dropped from 0.8 to 0.3 and then rose to 1.8 within 3 months. Plasma's current position is almost identical to ARB's back then.
I believe that when everyone is in fear, the opportunity is just beginning.
