"My friends often complain about being born at the wrong time, missing out on Taobao in 2008, WeChat in 2013, and TikTok in 2018, but greater opportunities are right in front of us. Web3 offers unlimited possibilities for young people: from SBF to ordinary individuals, we should all bravely leap into the tide and embrace change."
On September 27, the news that "a student from Shenzhen University, Class of 2018, donated 50 million yuan back to his alma mater" sparked heated discussions on social media, leading to various speculations. Comments like "son of Tencent CTO Zhang Zhidong," "founder of Singapore's ABD Capital," and "CEO of XX Company" attempted to portray him as a rich second generation. This article will delve into the story of this self-made genius—Zhang Yufeng. Zhang Yufeng, known by the circle name @octopusfeng, will be referred to as oct hereafter.
Chapter One: A Glimpse into the Path—Engaging in Trading, Deep Learning#
Despite the various opinions online about oct's true identity and industry background, there is a consensus that he graduated from Shenzhen University with a major in International Trade in 2018. Against the backdrop of a severe economic and employment situation, the stark contrast between "donating 50 million" and "just graduated two years ago" stimulates every observer. Many no longer believe in self-made stories, opting instead to accept the persona of the rich second generation or the entrepreneurial second generation. However, those familiar with oct and web3 know he is a legendary crypto trader who once worked at the well-known exchange FTX.
In 2018, when oct just entered Shenzhen University, he lacked a clear plan for the future. Reflecting on the past, he recalls having a strong aversion to trading, especially crypto trading. Influenced by biased reports from domestic media, he believed that traders, including Buffett, were engaging in high-risk speculation, and that hedge funds profited solely from capital advantages. "Pure speculation" was the initial impression young oct had of trading.
By the end of 2020, news like "#Bitcoin up 300% for the year, once nearing $30,000" entered mainstream awareness, but most people dismissed it. Oct, however, discarded his prejudices and began to study and invest in #crypto. The wheels of fate began to turn.
Traders can be divided into doers and thinkers; oct belongs to the former. Although he made his first "six-figure" profit by investing in US stocks like Bilibili and Hong Kong stocks like Xiaomi, he chose to fully invest in crypto. The financial market operates on the principle of the survival of the fittest, and crypto is particularly perilous, while oct resembled a cheetah holding its breath for a long time. Months later, he locked onto his first target—$SOL. With a habit of in-depth research developed during his internship in the primary market, oct conducted a comprehensive analysis of the crypto track and SOL, confirming his decision to go all in.
Oct's investment research approach is similar to that of the primary market: starting from the macro perspective of crypto. He believes that the Ethereum smart contract system is a great achievement of blockchain, but high gas fees hinder development. "Like New York, expensive and congested." Therefore, a public chain capable of running smart contracts with low gas fees became his target. After narrowing down the options, he filtered them from two angles:
(1) The "strong hands" in crypto determine the direction of the assets; the token concept and price trends are independent. SOL has strong support from FTX, and "SOL will become FTX's sharpest spear," because a controllable and excellent public chain is crucial for exchanges, just like BNBChain for Binance and OKChain for OKX (then known as OKEX), FTX must strongly support SOL.
(2) Builders have a keener sense than traders and will strive to choose the optimal public chain. The quality of SOL's hackathon is the highest among public chains.
At this point, oct's operations had not yet stood out. The difficulty of buy and hold lies in sticking to depreciating positions. After fully buying SOL at the beginning of 2021, SOL experienced a prolonged decline, repeatedly falling below $1. The significant drawdown affected oct's work and life, and he struggled for a long time with the impulse to "cut losses." Ultimately, fate smiled upon him, and after consolidating, SOL soared to over $200, allowing oct to gradually cash out. After this battle, his assets increased to the tens of millions.
Now that oct has achieved success, this luck-driven all-in trading method may not impress everyone, especially those who believe "going all in is wisdom" but suffer from drawdowns. However, looking back, oct has always been able to penetrate the fog and stroll through dangerous rapids...
(Continued)
[To be continued] Source: 0xbeyondlee.eth
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