May 12, 2026

A few days ago, I made another move in Hong Kong stocks, selling in the dark pool today and netting over 10k HKD.
If this pace continues, the accumulated funds in Hong Kong stocks could yield nearly a 50% annualized return.
Funds are definitely profit-driven; even with the high threshold for IPOs like Hong Kong stocks, many people team up to open accounts in Hong Kong.
So, in the crypto world, don’t be afraid of having no participants; the key is the wealth effect, especially since the entry barrier in crypto is still lower than that of Hong Kong stocks.
Just speaking for myself, if the threshold for Hong Kong stocks were a bit lower, I would definitely transfer some funds to participate in IPOs again.
But finding someone to open an account in Hong Kong—honestly, it’s too troublesome, and transferring funds out is also an issue.
However, this also indirectly points to a problem: the current crypto market almost isn’t attracting the active speculative capital present in the market.
As for the market, it’s still sideways and volatile; although Bitcoin has broken above 80k, it hasn’t made a large-scale breakthrough, so ETH, which is linked to it, naturally can’t gain momentum.
But as I always say, current funds are still in an active phase of exerting force, and there’s a chance to drive the market to rebound further.
However, without explosive hotspots and wealth effects, how high it can rise remains uncertain.
Thanks for your attention and likes.