Where are we in the market? 》 This morning, the Asian handicap woke up in a pretty good mood, $XRP became the target of the second historical ATH in the first 50 miles after the pie, and it is a bit inappropriate to say that the bull market has not come? From the start of the market at $ETH 1500, I found that there were still differences in the industry until yesterday, such as 3000, 3400 and 3400. But as there are growing signs that the engine of this recent bull run is the U.S. compliance process and the institutional blood that comes with it. Ripple is a clear example, in addition to the regular capital rotation after the pie broke through new highs and stabilized, another point is that the regulatory environment for crypto in the United States has warmed significantly. The CEO of Ripple said that the SEC may withdraw some of the lawsuits against XRP, while the Trump camp plans to include XRP in the "strategic crypto reserve" to increase compliance and institutional support. With the voice of ETFs, ETPs and other institutional-grade investment products (such as WisdomTree, ProShares XRP ETF), assets have flowed through formal channels, and the capital structure of $XRP has changed. Compared with ETH, which still has not seen big fundamental innovations, long-term projects such as Ripple's "bank license" + XRP Ledger smart contract have gradually begun to implement real-world value in cross-border payment and tokenization platforms. "Macro bull market + regulatory easing + capital inflow + application expectations" multiple superimposed buffs are finally reflected in the currency price. ~~~~~~~~~ So, where are we in the market? When you can see a pro-crypto bill passed every short period of time, almost every day there are US listed companies that declare that they are buying/going to buy cryptocurrency, the chairman of the Federal Reserve who insists on not releasing water will be killed, and the presidential family is all in Crypto. I really can't imagine where are we if we're not in a bull market right now? The rising period of institutional cattle + policy cattle HODL