#香港稳定币监管框架 Recently, this wave of pump looks lively on the surface, but peeling back the data, it seems more like the funds are making final dump preparations.

First, let's take a look at the on-chain movements. In the past 24 hours, several major holding addresses have been continuously reducing their positions. It's not a one-time dump, but rather a gradual exit in batches. Who is taking over? It's all small addresses, typical retail investors taking over. This change in chip distribution is often not a good signal.

Let's talk about the project itself. Its core selling point that it promotes externally is "AI agent ecosystem", which sounds impressive. But the reality is that the most basic agent creation function hasn't even been set up yet, and the so-called "cross-social platform profit model" is currently only at the white paper stage. Without technical implementation, no matter how brilliant the narrative is, it is just a castle in the air.

The most critical issue is liquidity. The circulating supply of $BID is only 271 million, which is pitifully small. For a coin of this size, it rises quickly and falls even faster. Previously, the price was pumped up due to a high concentration of funds controlling it. Now that large holders are starting to withdraw, the market simply does not have enough support. Once the selling pressure is concentrated and released, the pullback may exceed many people's expectations.

Data doesn't lie, and the fundamentals are right there. At this position now, the risks have already outweighed the opportunities.