Notes
In the 2021 altcoin cycle, Cardano reached a 96B market cap with roughly 30B supply in circulation.
$ADA went to $3.
And a lot of people looked at that and thought real money was flooding in.
It wasn’t.
Of course 96B did not actually enter the project.
What really happened was much simpler.
There were aggressive buyers pushing price higher in a market with far less depth.
Now look at today.
You open DefiLlama and see protocols like Aave, Lido, and Morpho sitting on billions of dollars of real capital.
Aave’s TVL is even higher than it was around the 2021 peak.
But token prices are not inflating the same way.
That difference matters.
In 2021, even limited liquidity could push valuations much higher because the market was willing to chase risk.
Today, real capital is already inside the ecosystem.
But the appetite to take risk is missing.
The money is there.
It just is not reaching for the same kind of upside.
It is sitting still.
Waiting.
Waiting for the bottom to feel confirmed.
Waiting for trend to look cleaner.
Waiting for the risks to fade.
That is the real difference between then and now.
Back then, less money could create a bigger move.
Today, more money is present, but it is parked defensively.
And until that changes, TVL alone will not give people the kind of token expansion they keep expecting.
叼毛们，今天老陌看到了一个残酷的复盘：如果你在特朗普就职当天投资 $10,000，现在还剩多少？
回头看看这一年多的回报率（ROI）：
$BTC (比特币): $6,400 （相对最抗跌，还剩 64%）
$ETH (以太坊): $6,100
$XRP (瑞波币): $4,120
$SOL (索拉纳): $3,180
$DOGE (狗狗币): $2,330 （马斯克效应减弱后的真相）
$ADA (卡尔达诺): $2,270
$AVAX (雪崩协议): $2,260
$DOT (波卡): $1,820
$SUI: $1,770
$ENA: $1,050 （基本快跌回起点了）
$APT (阿普托斯): $1,010
$TRUMP (PolitiFi 代币): $460 （跌去 95%）
$MELANIA (相关迷因币): $100 （几乎归零）
If you invested $10,000 when Trump took office, you would have:
$BTC: $6,400
$ETH: $6,100
$XRP: $4,120
$SOL: $3,180
$DOGE: $2,330
$ADA: $2,270
$AVAX: $2,260
$DOT: $1,820
$SUI: $1,770
$ENA: $1,050
$APT: $1,010
$TRUMP: $460
$MELANIA: $100
SEC在2026年3月17日刚发布的正式解释文件里，
把一批代币列进了数字商品示例名单。
数字商品基本已经规避了证券法监管，这里全部列举出来：
第一档是比较稳定列为数字商品的，一共有16个代币：
$BTC (比特币）、 $ETH (以太坊）、 $XRP (瑞波币）、 $SOL (Solana）、
$ADA (Cardano）、 $DOGE (狗狗币）、 $SHIB (柴犬币）、 $LINK (Chainlink）、
$AVAX (Avalanche）、 $APT ( Aptos）、 $HBAR ( Hedera ）、 $LTC (莱特币）、
$DOT (Polkadot）、 $XLM (Stellar）、 $XTZ (Tezos）、 $BCH (Bitcoin Cash）
另外， $ALGO ( Algorand ）和 $LBC (LBRY Credits）也被SEC点名为 digital commodities即数字商品，属于意外惊喜。
这里面争议最大的是$XRP，SEC 2026把$XRP列进了数字商品示例，但法院仍把XRP的一些销售行为认定适用证券法，
于是SEC也做了一点强调，解释说代币本身不是证券，不等于这个代币所有发行、销售、包装方式都不是证券，有点像为了XRP这碟醋单独包了这顿饺子。
目前二级市场的定调已经基本完成了，后续的监管大概率会更加清晰，跟着美国走至少能活到下一个周期，万一下一轮山寨季是数字商品季呢。
2014年 - 你错过了 $DOGE
2015年 - 你错过了 $XRP
2016年 - 你错过了 $ETH
2017年 - 你错过了 $ADA
2018年 - 你错过了 $BNB
2019年 - 你错过了 $LINK
2020年 - 你错过了 $DOT
2021年 - 你错过了 $SHIB
2022年 - 你错过了 $GMX
2023年 - 你错过了 $PEPE
2024年 - 你错过了 $WIF
2025年 - 你错过了 $ZEC
2026年，别再错过 $____？
Top 10 Cryptos YTD Performance 📈
1. $BTC: -15.4%
2. $ETH: -21.8%
3. $XRP: -17.4%
4. $BNB: -21.9%
5. $SOL: -24.4%
6. $TRX: +6.3%
7. $DOGE: -14.9%
8. $WBT: +3.0%
9. $ADA: -12.9%
10. $HYPE: +64.0%
Are you bullish on any of these?
💥BREAKING:
🇺🇸 The SEC has officially classified 16 assets as digital commodities, rather than securities, in its new Crypto Asset Taxonomy.
Assets Include: $XRP, $APT, $AVAX, $DOGE, $SOL, $ADA, $BCH, $ETH, $HBAR, $ALGO, $LTC, $DOT, $SHIB, $XLM, $XTZ and $LINK
This is HUGE! 🚀
昨天晚上8点参加了 @binancezh 的超级赚币活动
感觉最近大盘有启动的迹象，所以全部买的现货参加
一共是135500刀现货，然后把每一个认购都拉满了
今天一看持币盈利都已经5000刀了
看看活动结束后的利息+持币收益会是多少
目前 $BNB 奖池和 $BTC 奖池已经售罄了
目前还有 $WBETH $BNSOL $XRP $ADA 池子可以申购
如果有持有现货不急着卖的，可以去参加申购赚收益
Big news for the Cardano ecosystem! 🛒🇨🇭
You can now pay for your groceries with $ADA at 137 Spar stores across Switzerland! Thanks to @DFX_Swiss & @BrickTowers, blockchain is hitting the mainstream with real-time, low-cost retail payments.
$ADA Flash Rewards is now live!
🎉 5% p.a. in rewards for ADA with Crypto Earn
Join Now 👉
7 Crypto Charts That Explain EVERYTHING!!
$BTC $ETH $SOL $ADA
WATCH 👇
https://t.co/7Dpr1Vt4kZ
⏰ 最终倒计时24小时！
谁还不知道这次报名就能领20g 金条？
✅ 现货交易 $XAUT $DOGE $PEPE $PIPPIN $LTC $ADA 即可瓜分 $20,000 奖池！
新用户有空投，交易打卡有奖励，交易赛冲排名瓜分高额奖励！
👀 替你们看过了，排名更替还有机会哦，现在就启动吧～
📅 3月4日 – 3月11日
抓住最后机会，锁定福利👇
https://t.co/UkawWN5Bgi
Crypto prices since Trump took office:
$BTC: -40%
$ETH: -45%
$XRP: -59%
$SOL: -72%
$DOGE: -78%
$ADA: -77%
$LINK: -69%
$AVAX: -79%
$SUI: -82%
$TON: -77%
$ENA: -89%
$PEPE: -81%
$APT: -90%
$TRUMP: -90%
$MELANIA -98%
Thank you, Mr President.
Crypto prices since Trump took office:
$BTC: -40%
$ETH: -45%
$XRP: -59%
$SOL: -72%
$DOGE: -78%
$ADA: -77%
$LINK: -69%
$AVAX: -79%
$SUI: -82%
$TON: -77%
$ENA: -89%
$PEPE: -81%
$APT: -90%
$TRUMP: -90%
$MELANIA -98%
Thank you, Mr President.
JUST IN: Cardano $ADA is now accepted as payment at 137 SPAR supermarkets across Switzerland. 🇨🇭
Cardano Foundation secured the integration in partnership with @DFX_swiss.
Transactions are processed in real time, no centralized exchange needed.
Someone who bought $SOL at $5 on Sep 1, 2020 was still saying the same thing on Dec 23, 2020 when it was $1:
“I need a 5x just to get back to breakeven.”
Same with the person who said “it’s down 70%, I’ll buy $ADA here” in July 2018 and entered around $0.15. By the end of 2018 and again in March 2020 they said it twice:
“I need a 7.5x just to break even, what bull run?”
Or the guy who bought $CAKE at $1 on Oct 13, 2020 like “correction’s over, we’re running, don’t miss the train.” Then on Nov 10, 2020:
“holy shit… I’m 5x away from breakeven, don’t start this bull run talk.”
Dates change. Names change.
But the emotional meltdown doesn’t.
And if you keep reacting the same way, the ending won’t change either.
It’ll still be regret and “I wish…”
Prices since Trump became the 1st pro crypto president of the United States:
$BTC: -40%
$ETH: -45%
$XRP: -59%
$SOL: -72%
$DOGE: -78%
$ADA: -77%
$LINK: -69%
$AVAX: -79%
$SUI: -82%
$TON: -77%
$ENA: -89%
$PEPE: -81%
$APT: -90%
$TRUMP: -90%
$MELANIA -98%
The BIGGEST Move For Bitcoin Is Happening Now!?
$BTC $ETH $SOL $ADA $DOGE
Most People Don’t See It! 👇
https://t.co/5lBDOUvX3E
🔽 Cardano founder says he’s down over $3B in this cycle
Charles Hoskinson said during a livestream called “Red Days” that his personal crypto holdings are down more than $3B as the market sold off.
The drawdown came with $BTC slipping below $66,000 and $ADA falling to about $0.25, roughly 92% below its 2021 peak.
Hoskinson said he has not cashed out and framed the loss as proof of long term commitment to crypto. He contrasted his situation with past industry scandals and stressed having real skin in the game.
I want HONEST criticism on this portfolio:
1 $BTC
32 $ETH
1000 $SOL
90 $NVDA
500 $TAO
300 $LINK
99,000 $ADA
200,000 $SUPER
100,000 $USDC
