--------📌 Risk Warning: The following content is for learning and discussion purposes only and does not constitute any investment advice. Crypto assets are high-risk investments. Please view them rationally, make independent decisions, and bear the risks yourself. ---

Folks, we previously discussed PEAQ, PENDLE, and PHA in our posts. We published long-form articles on PEAQ and PENDLE, while for PHA we only provided price levels for buying it as a lottery ticket. In this issue, we will comprehensively assess the true quality, strong-market-maker intentions, and allocation ratios of these seven assets: 👇

🦅 I. Core Backgrounds, Token Supply Hierarchy, and Single-Asset Risk Control for the Seven Tokens:

👑 【First Tier · Absolute Top Choice for a Single-Asset Position】 ── PYTH (Pyth Network)

Maximum capital allocation cap: 15% ── 20%

Core sector: Dominant high-frequency oracle giant

Strong market-maker background: Top Wall Street high-frequency trading market makers and a certain elite tech-capital network

Supply and risks: Approximately 35% ── 40% is currently circulating, with the team and seed-round final unlock cliff arriving in spring 2027. However, before the unlock, during the “unlock vacuum period,” combined with 100% of protocol revenue being used for buybacks, it is the asset in the entire market that most perfectly combines a margin of safety with the main force’s high-frequency buying momentum, and can serve as a core anchor holding.

👑 【Second Tier · Stable Defense with Near-Full Circulation】 ── PENDLE (Pendle)

Maximum capital allocation cap: 10% ── 15%

Core sector: DeFi interest-rate derivatives / RWA cross-cycle interest trading platform

Strong market-maker background: A top global compliant-industry laboratory and a certain mechanism-driven capital firm

Supply and risks: A superfully circulating asset (circulation rate >90%)! As detailed in previous issues, early selling pressure has been completely released. A single-asset position in it means complete immunity to the systemic black swan of sudden, cliff-like institutional unlock selling. Combined with 80% of operating revenue being used for buybacks, it has extremely strong downside resistance.

👑 【Third Tier · High-Conviction, High-Upside Flexible Contender】 ── PHA (Phala Network)

Maximum capital allocation cap: 5%

Core sector: Privacy AI computing / trusted execution environment for AI agents

Strong market-maker background: An established Polkadot-ecosystem tech investor, as detailed in previous issues; clear signs of position rotation and accumulation by a specific leading market maker have recently appeared.

Supply and risks: 75% ── 80% of the supply is circulating. After years of intense market filtering and bottoming, institutional overhang above is exceptionally clean. As a high-upside asset, its position size must not hurt the main force’s base camp; keeping it within 5% is sufficient while waiting for a breakout from its range during broader sector rotation.

⚠️ 【Fourth Tier · Low Circulation and Strong-Market-Maker Black-Box Speculation】 ── PEAQ, PROM, PIPE, PIN

PEAQ (strictly capped at 3%): A DePIN physical-world-everything interconnection L1 backed by a certain Borderless Capital. However, its actual effective float is below 20%, and it faces enormous early linear-unlock selling pressure, so it must absolutely not receive a large allocation.

PROM (capped at 2%, an extreme lottery position): The AI agent economic layer. Its circulation rate is high, but its token structure is extremely distorted: the top 100 addresses control over 97% of the supply. This is purely an open bet against the opaque black-box market maker behind it; selecting and concentrating in it is tantamount to gambling, so it must be strictly limited to within 2%.

PIPE (capped at 1%, negligible spare change): A distributed CDN content-distribution micro-cap. It is a micro-cap lottery ticket with a market cap of only several million and an order book whose buy-side depth is as thin as a cicada’s wing. Liquidity is extremely poor, so at most 1% of idle capital should be allocated to it.

PIN (0% cap ── firmly blacklist and cut the line): Sector liquidity is nearly exhausted. Illiquid price rises without spot-market depth on mainstream exchanges are highly deceptive; it is easy to enter but difficult to exit. Retail investors should firmly blacklist it for long-term single-asset positions and delete it from their watchlists immediately!

🦈 II. Detailed Narratives and Latest News for Each Token

1. PYTH ── The Absolute Oracle Overlord Controlled by Wall Street

A Wall Street high-frequency trading market-maker team personally runs the backend, and its background strength is unmatched in the crypto industry.

🚀 Absolute Positive Catalyst (100% genuine revenue-generating buyback policy now in effect): The DAO formally passed a major proposal to mandate that 100% of product revenue be used to buy back tokens monthly on the open market and inject them into the treasury! Its current annualized recurring revenue has surged from almost zero in the past to 11.5 million. Although it faces a major unlock in 2027, during the current “unlock vacuum period,” the strong market maker’s incentive to push up and maintain its valuation is extremely powerful.

2. PENDLE ── The Anchor Asset for Interest-Rate Trading and RWA

By splitting yield-bearing assets into principal and yield tokens, it has nearly monopolized interest trading for Ethereum restaking and compliant assets.

🚀 Genuine Revenue-Driven Deflation: It has fully shifted toward compliant assets this year, launching numerous tokenized-yield markets linked to government bonds and dividends from top U.S. stocks. Even more importantly, the protocol currently uses as much as 80% of its genuine operating revenue to publicly buy back spot tokens on the secondary market, creating an extremely solid left-side defensive bid.

3. Genuine Deflationary Upgrade ── PHA

It has now fully pivoted to AI + TEE (Trusted Execution Environment) infrastructure, building a trusted verification layer for decentralized AI agents (AI Agents). The latest proposal substantially increased the token’s mandatory consumption in Confidential AI workloads. After years of intense market filtering and bottoming, it is a highly elastic asset where all negative factors have been priced in and supply has been fully shaken out.

4. Strong-Market-Maker Black-Box Wash Trading ── PROM

Risk Warning: The top 100 addresses control more than 97% of the token supply. This means it has almost no natural retail selling pressure, and all intraday spikes and dumps are completely controlled one-sidedly by the main force through its black box. Recently, its listing on a specific overseas major platform attracted large amounts of compliant outside speculative capital to engage in frenzied wash trading and abnormal moves. The rise is purely intended to lure retail investors in as exit liquidity. Do not hold it stubbornly for the long term.

🛠️ III. PYTH Spot Order Placement Strategy
🟢 First tranche (30%): 0.0723 ── 0.0736
🟡 Second tranche (50%): 0.0453 ── 0.0518
🔴 Third tranche (20%): 0.0313 ── 0.0378

🛑 Stop-loss: 0.0267

🚀 3. Long-Term Spot Profit-Taking
📍 First take-profit level (50% of the position): 0.1195 ── 0.1345
📍 Second take-profit level (another 30% of the position): 0.2795 ── 0.3195
📍 Third take-profit level (20% of the position): Above 0.4495

💬 Discussion Topic

Folks, are you preparing to charge into the low-circulation void and become fuel, or, like us, focus the bulk of your capital firmly on compliant, legitimate core assets with built-in genuine revenue-driven deflation? Feel free to leave your hard-hitting risk-control insights in the comments!

#PYTH #PENDLE #PHA #Three-StagePositionBuilding

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