0xSun: Already bottom-fished ANSEM and NEST, believes Solana remains the engine for this on-chain cycle

Odaily Odaily reported that trader 0xSun stated that he has bought ANSEM and NEST at market capitalizations of approximately $280 million and $6 million respectively to participate in the volatility of this on-chain cycle.

He believes that the on-chain activity driven by blknoiz06 has been very active this cycle, with strong Meme coins appearing on Solana, BNB Chain, and Robinhood Chain. However, the rotation speed is extremely fast. Apart from ANSEM, which has been rising for over a week, most other chain leaders have peaked overnight.

0xSun stated that ANSEM has corrected over 40% from its highs. With Ansem continuing to speak out and approximately 60% of the tokens yet to be unlocked, the probability of a rebound is high. NEST, on the other hand, is a higher-risk, higher-beta target, with short-term trends primarily driven by market sentiment. He also believes that for small capital investors, the crypto market remains a more suitable market for leveraging small amounts of capital for potential high returns.