Does every crypto bull market have to start with a founder or someone similar getting killed off???? Former Hack VC partner Hsin-Ju dies in California at age 37 According to records from the San Bernardino County Sheriff’s Department, Hsin-Ju Chuang died at the age of 37 after a traffic accident in California on the evening of August 24. She was involved with Solana’s early team, later founded Dystopia Labs, and served as a partner and head of platform at Hack VC. She had worked in the crypto industry for many years. Even more tragic, shortly before this, she had publicly discussed the intense workload, health crisis, and legal disputes following her departure that she experienced during her time at Hack VC. Hack VC said that the two sides had major disagreements over the relevant events and that it could not disclose further details for privacy reasons. There is one point I believe must be made clear: the previous workplace dispute cannot be directly equated with this death, and there is currently no public evidence proving a causal relationship between the two. But from an industry perspective, this incident is still worth reflecting on: the crypto industry moves quickly, has short fundraising cycles, and is highly competitive, leaving many professionals under long-term, high-pressure conditions. In my view, what the industry truly needs to focus on is not only capital, projects, and returns, but also whether industry professionals can maintain their health over the long term. At 37, many people are at a stage of rapid career growth, yet hers came to an abrupt end. May the deceased rest in peace, and may subsequent information about the cause of the accident and related disputes be based on public and reliable sources.

Why hasn’t it pumped even with 95% token concentration? Many people see the top ten addresses holding over 90% of the supply and assume it will soar the next day. Two days ago, $ZETA ’s top ten controlled 96.5% and the chain was preparing to migrate to Solana; it pumped 70% that day. But looking back, these kinds of tokens can lie dormant for a long time before pumping. LSK also had highly concentrated holdings, and when it finally moved, it went 20x in two days—but before that, it could still grind people down. High token concentration only means the tokens are in the market maker’s hands and selling pressure is low. It does not mean the market maker is going to pump it today. What the market maker wants is not to be able to pump it, but to have someone buy after the pump. There needs to be fuel in the futures market, while the gainers list and the media bring in counterparties. With the tokens in its own pocket, the market maker is in no hurry. You are the one in a hurry: with little capital, you switch to the next one after watching for two days without a pump—and every switch sends liquidity to the market maker. The most common situations with highly concentrated holdings are these: the tokens are under control, but there are not enough shorts in the futures market. Pumping it would trigger no liquidations, making it a pure waste of ammunition. So the market maker will do everything possible to create negative news and attract counterparties. Then it will move sideways for two weeks, waiting until you can’t take it anymore and cut your losses before making a move. It pumps other coins every day to hide the one it really intends to move. If you watch the gainers list every day, you will never time it right. In one sentence, concentrated holdings are a necessary condition for a pump, not a sufficient one. Seeing 95% only means the token is qualified to be traded this way; it does not mean you can buy it now. Many people will ask again: what should you do while waiting? What shitcoins never lack is multiples. AKE went 1,000x in two months, and LSK went 20x in two days. Once they really start moving, they can complete many people’s one-year fantasies in just a few days. The scariest thing is not missing one; it is having an opportunity arrive after you have lost your principal. Trading has never been about who makes more on a single trade, but who can survive at the table longer. Going all in without data is gambling; splitting positions with capital, data, and patience is what makes a hunter. Highly concentrated holdings can be monitored, but first you must ensure that you have enough chips left to stay at the table.