No, you’re all shouting “buy the dip,” and I don’t quite get it. In the group, people are tossing around all sorts of “re-staking nesting dolls” and “stacking shared security rewards”—it sounds pretty lively, but has anyone thought about this question: when liquidity dries up, you can’t even get your orders filled, and no matter how good your strategy is, it’s all for nothing.

Over the past couple of days, I’ve been watching the order book depth of a few small coins. There’s a thick layer of shorts, while the buy orders are thin and scattered. Slippage is just sky-high. If you place a limit order, you won’t be able to take any meaningful volume for hours; if you switch to a market order, you get “harvested” right away. To put it plainly: when things are like this, if you’ve got USDT (U), don’t rush to think about how to double your money—think about how to get through this wave first. Even if “re-staking nesting dolls” is good, you still need liquidity to be able to cash out what you have.

Anyway, I’m choosing to just stay low and cautious for now. Placing orders is the real discipline. Don’t go around thinking about “buying the dip” at every turn—first see whether the water is deep enough. Survive first, then talk about everything else.