2026-01-04 21:22:00

After working in this circle for so many years, I have to say, this time is truly different. This is not just a bull market cycle reaching its peak, but the entire bear market officially announcing its end — a genuine "financial upgrade bull market" has just begun.

How to judge? Many people are still watching candlestick charts for ups and downs, but my logic is simple: observe where the money flows. The signals right now are very clear. Institutional funds are continuously entering the market, various ETF products are just beginning to see fresh capital, and a large amount of traditional assets are busy completing on-chain transformations. The simultaneous appearance of these three forces means that the door to a new financial era has truly opened.

Honestly, the kind of "speculative bear market" driven purely by hype, hot topics, and emotions is completely over. Instead, what’s emerging is a "financial bull market" supported by real application scenarios and genuine capital demand.

Looking at the changes in this cycle, it’s clear. In the last cycle, we spent all day discussing Meme coins and tracking market sentiment. Now, the topics have completely shifted — on-chain clearing, cross-border payments, and bond tokenization are no longer just concepts but have entered practical application stages.

Specifically, in several key sectors, opportunities are indeed emerging:

**Payments and Clearing**: Features like low fees and fast settlement are already being applied in cross-border commercial payments. This effectively moves real-world capital flows directly onto the chain, bridging traditional economies and on-chain economies.

**Cross-Chain Liquidity**: Through aggregation technology, liquidity across different public chains is integrated into a unified market depth. User experience is as smooth as operating a single chain, which is a necessary condition for large-scale adoption.

**Asset Tokenization**: Government bonds, bills, and various funds are gradually being brought on-chain. Large-scale traditional financial assets are being transformed into new, tradable on-chain capital. This process is just beginning, with enormous potential for growth.

The core of the financial bull market is really about connecting genuine capital with real demand.

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LayerHopper

· 2h ago

Here comes another "This time it's really different," buddy, you say that every round. Really, really? So what was the deal with all the hype about Meme coins before... On-chain transformation is visible, but I need to observe more on other aspects. It's not that I don't trust you; it's just that I've stepped into too many pits. Institutional entry is indeed a signal, but don't confuse ETF liquidity with real adoption. Asset tokenization sounds great. When the day comes for government bonds to go on-chain, I won't hesitate to go all-in.

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BlockchainRetirementHome

· 14h ago

This time it's really different. Institutional entry is a signal; watching the flow of funds is much more accurate than looking at K-line charts. Ultimately, there needs to be genuine demand to support it; otherwise, it's just another round of bag-holding games. Asset on-chain is indeed interesting. The tokenization of government bonds has been implemented, and the imagination is still quite large. The concept hype is outdated now. It's all about practical application, which is quite intriguing. Wait, is cross-chain liquidity really that smooth? Why do I still feel some lag? It's called financial upgrade in a nice way, but frankly, it's just a new shell to continue harvesting retail investors. Let's wait and see. From the perspective of institutional capital entering the market, it's definitely much more mature than the last cycle. How much has been achieved in payment and settlement? This area is the easiest to hype into sky-high prices.

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PseudoIntellectual

· 01-05 11:17

Listen, brother, this set of arguments seems to have some truth to it, but I just want to ask—are institutions really entering the market in large numbers, or are we just self-illusioned? --- Asset tokenization does look promising, but how long do we have to wait for government bond tokens to actually be implemented? That’s the real key. --- When will cross-chain liquidity become truly seamless? Right now, cross-chain transactions are still way too expensive. --- It sounds good, but it depends on whether real projects will follow up; otherwise, it’s just another round of hype. --- This time is indeed different, but who can guarantee there won’t be another black swan? Better to be cautious. --- I don’t believe you. You guys said the same last time, and look what happened. --- I see institutions entering the market, but retail investors are being pushed out even more, brother. --- The bull market is here, so why am I still losing money?

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AlphaLeaker

· 01-04 21:52

Still talking about this grand narrative, but this time there is indeed some substance. Institutional entry, ETFs, asset onboarding... the logic seems solid, but how much of it is actually implemented? It sounds better than it performs. The track looks promising, but I'm worried it might just be another wave of concept hype, repackaged to continue the pump-and-dump.

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CascadingDipBuyer

· 01-04 21:50

Institutional entry looks solid this time, but has cross-border payment really been implemented? Feels like it's still in the PPT stage. --- Asset tokenization sounds exciting, with endless possibilities, but how does the central bank view linking government bonds to the blockchain? --- Another round of "this time it's really different," but why do I still only see the K-line fluctuating? --- Is ETF liquidity just beginning? Then is it a bit early to bottom fish now? Maybe we should wait a bit longer. --- Hardcore scenario implementation, where are the specific data? Talking without action is useless. --- From meme trading to explaining clearing liquidity, indeed a change of people, but the chives are still the same ones. --- Is cross-chain aggregation really that smooth? Why do I still feel it's not moving smoothly, and gas fees are still high? --- Is this bull market truly a financial upgrade, or is it just another round of cuts? Let's ask a question mark first. --- Money is indeed flowing here, but where is it being taken? That's the key, right?

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AirdropGrandpa

· 01-04 21:46

Is the bear market really over? I still feel like it's still falling... But your logic of looking at the flow of funds is indeed sharp; institutions entering the market definitely can't be fooled.

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GasFeeNightmare

· 01-04 21:38

Cross-chain liquidity sounds smooth, but in practice, gas wars still torment users. Watching the tracker late at night almost drives me crazy.

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BloodInStreets

· 01-04 21:29

Institutional entry, ETFs, asset onboarding... sounds great, but I just want to ask one question—why didn't these "real needs" show up in the last cycle? Or is this time really different? --- Tokenization of government bonds, cross-border payments... all sound good, but where's the trading volume? Data speaks for itself; don't just tell stories. --- I’m most annoyed by the rhetoric of a "new era of finance," every bull market is described this way. But I won't deny, this cycle does have some substance—it's just a matter of how much real money institutions can pour in. --- Asset onboarding is just getting started? Then am I buying a story now, or just riding a hype train? Don't follow the trend without thinking this through. --- Where is the money flowing... I think most are still stuck in mainstream trading pairs; I haven't seen many profitable real-world applications. --- Every time they say "this time is really different," then the market gets cut in half again. Cyclical patterns can't be fooled. --- On-chain clearing, cross-chain liquidity... I understand the technical details, but I just don't see why this cycle can outperform the panic dumps.

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