模糊了CEX和DEX之間的線

儘管Binance Alpha 2.0在本月18日上線，但我沒有立即更新我的經驗，因為我對交易Memecoins毫無興趣

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Source: Talking About Li and Outside

資料來源：談論李和外部

Although Binance Alpha 2.0 went live on the 18th of this month, I didn't update my experience right away because I have had no interest in trading MemeCoins recently. However, a couple of days ago (March 24), after updating the app, I casually bought a small amount of a coin in the Alpha zone to try it out, and the operation was indeed very smooth, essentially allowing direct purchase of DEX tokens within Binance (CEX).

儘管Binance Alpha 2.0在本月18日上線，但我沒有立即更新自己的經驗，因為我最近對交易Memecoins毫無興趣。但是，幾天前（3月24日），在更新了該應用程序後，我隨隨便便購買了Alpha區域的少量硬幣來嘗試一下，並且該操作確實非常平穩，從根本上允許在Binance（CEX）內直接購買Dex令牌。

Perhaps because the operation was too smooth, the coin I bought lost almost 30% in less than a day, but since it was a small test, I won't take this loss seriously. What I mainly want to say here is that from a developmental perspective, Binance Alpha seems to completely blur the lines between CEX and DEX, while also allowing some on-chain tokens to directly gain liquidity from Binance, enabling ordinary users (newbies) to easily acquire some on-chain assets without having to consider slippage, GAS, bridging, and other issues. This is indeed a form of progress.

也許是因為操作太光滑了，所以我購買的硬幣在不到一天的時間內損失了近30％，但是由於這是一個小測試，我不會認真對待這種損失。我主要想在這裡說的是，從發展的角度來看，Binance Alpha似乎完全模糊了CEX和DEX之間的界限，同時還允許一些鍊子代幣直接從施用中獲得流動性，使普通用戶（Newbies）能夠輕鬆地獲得一些鍊子，而無需考慮打滑，氣體，總體級別，大事和其他問題。這確實是一種進步形式。

1. The Turning Point in the CEX and DEX War

1。在CEX和DEX戰爭中的轉折點

Since the launch of Binance Alpha 2.0, which has only been about a week, its trading volume has approached 94,900 transactions, with a trading volume exceeding $113 million. In the current overall gloomy market sentiment, it can be said that it has performed quite well, as shown in the figure below.

自Binance Alpha 2.0推出以來，它的交易量已接近94,900件交易，交易量超過1.13億美元。在當前的整體陰暗市場情緒中，可以說它的性能很好，如下圖所示。

Many people were previously discussing the future war between CEX and DEX, but from this, we can easily foresee that perhaps in the future, there will no longer be a so-called competition between CEX and DEX, but rather, whoever can seamlessly integrate the two will become the ultimate winner.

以前，許多人在討論了CEX和DEX之間的未來戰爭，但是從中，我們可以輕鬆預見的是，也許將來，CEX和DEX之間將不再有所謂的競爭，而是可以無縫整合兩者的人將成為最終的贏家。

Of course, we are only looking at the issue from a developmental perspective. If you look at it solely from the current liquidity perspective, you could also argue that Binance is just thinking of ways to squeeze the market dry.

當然，我們只是從發展的角度看這個問題。如果您僅從當前的流動性角度來看它，您也可能會說，binance只是在考慮擠壓市場乾燥的方法。

2. Market Uncertainty and Opportunities

2。市場不確定性和機會

As we mentioned in the previous article (March 24), apart from the hot topics created by CZ (MemeCoins, wallet new listing activities) that some people are actively participating in, it seems that the market has fallen into a kind of persistent silence, as everyone seems to be waiting for a bigger black swan or a more significant positive news (such as a Federal Reserve rate cut, changes in Trump's tariff policy, etc.).

正如我們在上一篇文章（3月24日）中提到的那樣，除了CZ（Memecoins，Wallet，新清單活動）創建的熱門話題外，某些人正在積極參與，看來市場已經陷入了一種持久的寂靜，因為每個人似乎都在等待更大的黑雪或更大的積極新聞（例如，美聯儲削減了較大的積極新聞）（例如，王室儲備率削減了王室的政策，都會改變特朗普的政策等）。

However, at the same time, there is an interesting point that many projects (token prices) have actually been slowly rising since around March 15. We can easily see this by looking at the corresponding daily trends. For example, Pendle, which I am following, has risen about 50% in the past two weeks (from $1.9 to $2.9), but not many people are discussing it.

但是，與此同時，有一個有趣的觀點是，自3月15日左右以來，許多項目（代幣價格）實際上一直在緩慢上漲。我們可以通過查看相應的日常趨勢來輕鬆地看到這一點。例如，我遵循的彭德爾（Pendle）在過去兩個星期（從1.9美元到2.9美元）上升了約50％，但沒有多少人在討論它。

A few days ago, while browsing group messages, I also noticed someone mentioned this issue, saying: "I found that the bottoms of altcoins are rising again." As shown in the figure below.

幾天前，在瀏覽組消息的同時，我還注意到有人提到了這個問題，說：“我發現Altcoins的底部再次上升。”如下圖所示。

Of course, what I want to express here is not that a big wave is coming back or that the so-called altcoin season is approaching. Discussing whether a bull market or altcoin season is coming will often lead to criticism and could be misleading. What I mainly want to convey is a thought process: if you are still paying attention to this market, then whether in the short term, medium term, or long term, you need to find your own perspective to conduct necessary in-depth understanding. This way, you will have a greater chance of discovering potential opportunities that others might miss, and such opportunities often arise when most people are pessimistic or desperate. Conversely, when most people can see opportunities, or when everyone is vying for such opportunities, you should consider exiting.

當然，我想在這裡表達的不是大浪回來，或者所謂的山寨幣季節正在臨近。討論牛市還是山寨幣季節來的到來，通常會引起批評，並可能產生誤導。我主要想傳達的是一個思考過程：如果您仍在關注這個市場，那麼無論在短期，中期還是長期內，您都需要找到自己的觀點，以進行必要的深入理解。這樣，您將有更大的機會發現別人可能會錯過的潛在機會，而當大多數人感到悲觀或絕望時，這種機會經常出現。相反，當大多數人都能看到機會，或者每個人爭奪此類機會時，您應該考慮退出。

Let me give you another simple example. For instance, you can recall or look at your study notes or trading notes. What were you doing in September last year (2024)? What different aspects of the market were you paying attention to? What specific actions did you take at that time?

讓我給你另一個簡單的例子。例如，您可以回憶或查看學習筆記或交易筆記。去年9月（2024年），您在做什麼？您關注市場的哪些不同方面？您當時採取了什麼具體的行動？

If you can't remember anything, it might be worth reviewing our series of articles from the same period last year and reading them again. You might gain some new insights. As shown in the figure below.

如果您不記得了任何事情，那麼去年可能值得回顧我們同一時期的一系列文章並再次閱讀它們。您可能會獲得一些新的見解。如下圖所示。

In summary, it is still the viewpoint from our previous articles: there will always be various opportunities in this market. We shouldn't get too caught up in the so-called bull or bear markets. A bull market does not mean you will definitely make money, and a bear market does not mean you will definitely lose money. The market essentially consists of three structures (upward, downward, sideways). We just need to align with our risk preferences, grasp the rhythm of different periods, and find our own opportunities.

總而言之，這仍然是我們以前文章的觀點：這個市場總是會有各種機會。我們不應該在所謂的牛市或熊市中陷入太多。牛市並不意味著您一定會賺錢，熊市並不意味著您一定會虧錢。市場基本上由三個結構（向上，向下，側面）組成。我們只需要與我們的風險偏好保持一致，掌握不同時期的節奏，並找到自己的機會。

Every investor hopes to make money, but

每個投資者都希望賺錢，但是