ChainCatcher news, according to X platform user @MiyaHedge, trader Eugene Ng (@0xENAS) is actually Darryl Wang, co-founder of Tangent Ventures, who has repeatedly promoted the ENA token without disclosing his interests. It is reported that Eugene participated in the seed round investment of the ENA token as a member of Tangent Ventures.Miya has expressed willingness to provide $1 million as a bond, requesting Eugene to prove he has no connection with Tangent Ventures. Miya pointed out that this behavior may violate relevant regulations in Singapore, and this matter has become an open secret within the Singapore trading circle, but over 99% of the crypto community is unaware of it.

ChainCatcher news, according to X platform user @MiyaHedge, trader Eugene Ng (@0xENAS) is actually Darryl Wang, co-founder of Tangent Ventures, who has repeatedly promoted the ENA token without disclosing his interests. It is reported that Eugene participated in the seed round investment of the ENA token.Miya has expressed a willingness to provide $1 million as a bond, requesting Eugene to prove that he has no connection with Tangent Ventures. Miya pointed out that this behavior may violate relevant regulations in Singapore, and this matter has become an open secret within the Singapore trading circle, but over 99% of the crypto community is unaware of it.

ChainCatcher message, trader Eugene Ng Ah Sio posted, "Although I generally hold a bearish view, I believe that the prices of some tokens have fallen to a level where any form of mean reversion could lead to a sharp rebound. I have started to buy these tokens in small amounts."

ChainCatcher news, trader Eugene Ng Ah Sio posted on social media, "In an era of high prices, finding new ideas is indeed challenging. How do you build confidence in a project that has already risen 10 times from the bottom?My framework for building confidence can be summarized as follows:Represents a completely new idea ------ this can be achieved through a new vertical, a new product or service, or even a new token economic model (like a Ponzi model).Look for newer names, with fewer holders and smaller unrealized gains for existing holders ------ this is why new coins often perform better than old coins, as they have no natural resistance levels and no inflation or sell-off pressure.Seek theoretically unlimited valuation ceilings ------ this is why meme coins perform so well, as they are unvalued.Now, there is a token that reasonably meets all these criteria in some aspects."

ChainCatcher message, trader Eugene Ng Ah Sio posted on platform X stating, "I can see that the market capitalization of ENA and HYPE can continue to stay above 10 billion dollars during this cycle, as the data actually supports such valuations."

ChainCatcher news, trader Eugene Ng Ah Sio posted that he smells the "AI agent narrative" replacing the "return of meme or utility tokens" in today's Binance announcement.

ChainCatcher message, trader Eugene Ng Ah Sio posted: "Currently, many token charts (excluding AI agents) show the following pattern: a pullback of 30-40% from the highs; a good consolidation, finding support on the 1-day trend line; and starting to move upward again.Find these projects that can continue to rise with fundamental catalysts or improvements, and hold them with strong conviction."

ChainCatcher news, trader Eugene posted on platform X that PENGU is essentially a copy of APE, but with a properly functioning team that knows how to execute projects under Luca Netz, and has an upcoming important catalyst, which is the Abstract Chain launching in January.Eugene stated: "I like the fact that we have run a complete airdrop fractal, and early participants have basically completely exited this phase, so we can now achieve proper price discovery in 2025.PENGU is an obvious market leader across multiple verticals (NFT/consumer/meme?). From a technical analysis perspective, it is also quite clear, with mid-term support at around $0.03, and the range low is not too far off." It is expected that at some point in January, people's attention will be focused on PENGU."

ChainCatcher message, trader Eugene posted a December trading summary on his social platform stating: "This month, the number of trades reached 47, with a win rate of 72%. The performance this month can be attributed to two main points: position size control and reducing unnecessary mistakes. December encountered the largest two drawdowns to date, with a loss of 3.3 million USD (-7.5%) on DOGE long positions and a loss of 6.5 million USD (-10.2%) on SOL long positions. The main profits this month came from short-term trades in ETH and BTC, as well as successful long positions in some small altcoins, including ENA, PEPE, and other meme coins. In unclear market conditions, it is necessary to reduce the position size for short-term trades in highly volatile assets.In summary for 2024, I have achieved profits in 11 months this year and maintained good stability over different periods. I expect January to be a good trading opportunity for some quality altcoins, and I have already positioned myself in ETH and its related beta coins."

ChainCatcher message, trader Eugene Ng Ah Sio stated that the increasing interest of institutional investors in ETH is not a new phenomenon. Since Trump's election, the flow of funds into ETH ETFs has undergone a complete reversal.He believes that as ETH's relative performance begins to surpass that of BTC, combined with the previously mentioned recent performance of the ETH ecosystem, this trend will continue to rise reflexively.

ChainCatcher message, trader Eugene Ng Ah Sio posted on X that some tokens are approaching or retesting the daily trend line, and he is paying attention to these tokens.

ChainCatcher message, top trader Eugene Ng Ah Sio shares a recent trading summary. After perfectly going long on BTC from $102,000 to $107,000, I decided to transfer this profit into long positions on SOL and the SOL ecosystem. The entry point at that time offered a moderate risk-reward ratio (r/r), specifically: going long on SOL at $220, WIF at $2.75, and BONK at $0.037. This was based on SOL's strong performance on lower time frames (LTF) and the confidence gained from previous successful trades. When the BTC market began to turn at $108k, I was not pleased with the trading performance of some meme coins, so I decisively closed out the underperforming assets, accepting an acceptable loss (which was the right move). However, I did not close my SOL position; instead, I chose to increase my position from $20 million to $30 million. This led to the formation of the first mistake.Mistake 1: Not cutting losses in time:Typically, one of my strengths is the ability to exit positions promptly when they start to lose strength to avoid larger losses. However, this time, I chose not to cut losses when SOL dropped to $215, even though I believed the market would experience downward volatility around the FOMC meeting. My bias overwhelmed my logic, and the psychological excuse I used to comfort myself was that $200 was a key support level for SOL, and it was very close. I didn't want to be "liquidated" by the market for trying to catch a 5% move. When SOL dropped to the $200 support level, I further increased my position, raising it from $30 million to $45 million, reasoning that the risk-reward ratio at the high time frame (HTF) support was optimal. I didn't think this was a mistake, but it certainly made an already complicated situation more dangerous.Mistake 2: Ignoring stop-loss points:When SOL broke below $200, the clear action should have been to close the position as planned. However, I chose to hold on because the position size had become so large that if I closed it at that moment, it might trigger a waterfall drop in SOL's price to $190 and ruin the entire chart. At this point, I began to harbor "hopium," thinking, "maybe there will be a lower wick that breaks support and then recovers." This mindset was definitely a red flag, and I should have been particularly cautious. Moreover, after the price fell below $200, I leveraged my position in the $187 to $193 range, increasing my position size to nearly $60 million (with total account leverage reaching 1.2x). This was clearly a wrong move, but as you can see, the mistakes began to compound. Fortunately, a complete "black swan" event did not occur, and I was not punished more severely.What I did right:When my unrealized loss reached $7-8 million, I decided "enough is enough" and decisively cut my losses. I closed 70% of my position at $193, which allowed me to free up cash to re-enter at the final bottom, including ETH, ENA, PEPE, and WIF, almost catching the lowest point. Ultimately, the actual profit and loss (rPNL) of this trade was a loss of $6.2 million, approximately -10.2%. Since then, I have executed 13 trades, all profitable, essentially making up for this loss. I believe this is a great example of how a trade can go wrong from the start, and then mistakes can compound, potentially leading to a very bad situation, especially when the "sunk cost fallacy" takes over. Fortunately, I was able to break free from this mindset, which allowed me to trade calmly and accurately at the market bottom. This was my largest single position loss on this account, and I will remember this lesson for a long time.Merry Christmas, friends.

ChainCatcher message, trader Eugene Ng Ah Sio posted on social media, "Four Meme coins: MOODENG, CHILLGUY, PNUT, and GOAT, are experiencing panic selling candlesticks one after another, and Meme coins have basically retraced most of their gains during the altcoin season. Here, I tend to accumulate for a long-term layout."

ChainCatcher message, trader Eugene Ng Ah Sio shared his views on the altcoin market, "Altcoins (Alts) quickly fell back to these wick lows within 48 hours after forming the lower wicks, and investors are extremely anxious about holding spot assets, eager to sell and exit. The market may enter a prolonged decline or consolidation phase, or experience a sharp sell-off and bottom out in a short period."

ChainCatcher message, trader Eugene Ng Ah Sio posted an explanation of why SOL is currently the most关注ed mainstream coin:In all charts (SOLBTC, SOLETH, and SOLUSD trading pairs), we are at or near the "value" level of the high time frame (HTF);The undervaluation below $200 provides a good entry point for today's bulls;The funding rate has been declining and has now entered negative territory, indicating that some form of perpetual contract hedging is taking place, as the open interest (OI) has remained almost unchanged. This is further explained as multiple market participants using SOL as the short part of their hedging portfolio, due to its weakening momentum since $260.As @docXBT mentioned, these are important levels that need to be respected to some extent, especially on the high time frame (HTF). As a bull, I am willing to try to enter at these levels. However, if these levels are lost, we will soon enter a dangerous zone.

ChainCatcher message, trader Eugene Ng Ah Sio posted on X: "Rebalanced the portfolio, now fully bullish on SOL. Have lost about 1 million dollars on Meme coins and am looking for a rebound opportunity."

ChainCatcher message, trader Eugene Ng Ah Sio posted on X: "Rebalancing, now fully bullish on SOL. Have already lost about 1 million dollars on meme coins and am looking for a rebound opportunity."

ChainCatcher message, trader Eugene posted on social media, "Making money in the crypto market is one thing, but holding onto profits is another. When planning your exit strategy for this cycle, you should focus on minimizing the drawdown from historical highs after the market turns. For those who say they can consistently profit in both bull and bear markets, I can only wish you good luck ------ because that means you have to become one of the top 0.01% of traders in the world. Here are the indicators I use to measure investment performance ------ the percentage drawdown from the new net worth high:0-20%: Your defense is perfectly in place, but you may have overdone it at the cost of sacrificing too much upside potential;20-30%: You performed well. You were able to see the signals of market turn and exit in time, with minimal losses;30-50%: The performance is okay. While not the best, ideally you should have already made a decent profit;50-75%: You stayed too long and failed to identify the key turning point at the end of the cycle;75%: There is a serious problem at some point, and you need to comprehensively assess whether you are fit to continue trading.Interestingly, you will never know the true extent of the drawdown before the next cycle begins. But in any case, it's worth planning ahead."

ChainCatcher message, top trader Eugene Ng Ah Sio posted on platform X showcasing his contract positions, involving cryptocurrencies SOL, WIF, and BONK. According to the image, Eugene Ng Ah Sio is long on the related tokens, with a perpetual contract leverage of two times.

ChainCatcher message, trader Eugene shared the recently popular DEX project Hyperliquid on his social platform. Eugene stated, "HL (Hyperliquid) is the best Deriv DEX on the market, far ahead, deserving of the market share and fan base it has accumulated; everything that founder Jeff and his team have done so far has been right, even paving the way for other founders to establish the 'correct' strategy for issuing tokens.However, since the TGE, the token price has actually been parabolic, and I believe the current price has reached a very attractive level for early airdrop participants. In my view, the amount of promotional hype is equivalent to the peak market share of the entire CT. The speed of accumulation also reflects the enthusiasm of many marginal buyers, especially above $10.I have no opinion on the hype (long-term or short-term), but I admire their achievements in such a short time. Given that I am bombarded with questions about this topic every day, these are just my thoughts."