"I often hear friends complain about being born at the wrong time, missing out on Taobao in 2008, WeChat in 2013, and TikTok in 2018. However, greater opportunities are unfolding before us. Web3 offers limitless possibilities for young people: whether it's giants like SBF or ordinary individuals like us, we should bravely dive in and embrace the wave."
On September 27, a news story about "a student from Shenzhen University donating 50 million yuan back to his alma mater" caused a stir on social media, leaving people amazed and sparking various speculations. Comments like "son of Tencent CTO Zhang Zhidong," "founder of Singapore's ABD Capital," and "CEO of a certain company" seemed to try to shape this young celebrity into a so-called rich second generation. Today, this article will delve into multiple chapters to reveal the true story of this self-made genius—Zhang Yufeng. Zhang Yufeng is known in the circle as @octopusfeng, hereinafter referred to as oct.
Chapter One: A Glimpse into the Path—Engaging in Trading, Deep Learning#
Although internet users have various opinions about oct's true identity and industry, there is a consensus that he graduated from the International Trade major of Shenzhen University in 2018. In the current severe economic and employment situation, the stark contrast between "donating 50 million" and "just two years after graduation" stimulates the nerves of every online observer. It is understandable that many people no longer believe in contemporary self-made success stories, instead accepting a persona tailored for him as a rich second generation or entrepreneurial second generation. However, those familiar with oct and web3 know that this speculation is unfounded, as he is actually a legendary crypto trader and has worked at the well-known crypto exchange FTX.
Back in 2018, when oct first entered Shenzhen University, he, like most people, lacked a clear plan for the future. Reflecting on this period, oct often feels a mix of emotions, as he had a strong aversion to trading, especially crypto trading. Perhaps influenced by certain media's biased reports on asset trading in China, oct once believed that all traders, including Buffett, were engaging in high-risk speculation, and that some hedge funds profited solely from their capital advantage. "Pure speculation" left a negative impression of trading on young oct.
Fast forward to the end of 2020, news like "#Bitcoin skyrocketed 300% this year, once approaching $30,000" began to enter mainstream view. However, unlike most people's disdainful attitude, oct chose to discard his biases and began to study and attempt to invest in #crypto. At this moment, the wheels of fate quietly began to turn.
If traders can be divided into doers and thinkers, oct undoubtedly belongs to the former. Although he earned his first "six-figure" profit by investing in US stocks like Bilibili and Hong Kong stocks like Xiaomi, he ultimately decided to invest all his funds into crypto. It is well known that financial markets operate on a survival of the fittest principle, and crypto is one of the most perilous fields, with oct resembling a cheetah holding its breath. After months of exploration, he locked onto his first target—$sol. With the deep research habits cultivated during his internship in the primary market, oct conducted a comprehensive analysis of the crypto track and sol, confirming his decision to invest all his funds.
It is worth mentioning oct's investment research approach: similar to primary market analysis, he started from the macro crypto market. He believed that the Ethereum smart contract system was a great achievement of blockchain, but the high gas fees were a significant obstacle to its development. "Like New York, bustling yet congested." Therefore, a public chain capable of running smart contracts with low gas fees became his target. After narrowing down the options, there were still many candidates, and oct considered from two angles:
(1) He believed that whether crypto had a "strong player" determined the direction of the target, as the token concept and price trends were independent, and sol had strong support from FTX. Additionally, oct believed that "sol would become FTX's sharpest spear," as a controllable and excellent public chain would greatly benefit exchanges, just like BNBChain for Binance and OKChain for OKX (which was still called OKEX at the time), thus FTX would undoubtedly support sol vigorously.
(2) Builders are more perceptive than traders and can sense the development of public chains in real-time, as entrepreneurs risk everything to enter the field, and a slight misstep could lead to total failure; they will strive to choose the best public chain. The hackathons for sol, whether formal or informal, had the highest quality among various public chains.
At this point, oct's operations had not yet made him stand out. Anyone who has experienced buy and hold knows that the real difficulty is not in the buying process, but in whether one can hold onto a depreciating position during the long holding period. Oct also faced this choice: after buying sol with all his funds at the beginning of 2021, sol continued to decline, repeatedly falling below $1. Reflecting on this experience, oct admitted that the significant drawdown affected his work and life, leading to a long struggle with the impulse to "cut losses." Ultimately, fate favored him; after a long consolidation, sol skyrocketed from the buying point of $3 to over $200, at which point oct gradually began to cash out. After this battle, his assets increased to the tens of millions.
Although today, with oct's success, this somewhat luck-based all-in trading method may not impress everyone with similar experiences, especially those who believe "going all in is wisdom" yet endure significant drawdowns. However, it cannot be denied that, looking back through the rearview mirror, oct always manages to penetrate the fog, steadily advancing through dangerous yet perfectly timed rapids...
(Continued)
[To be continued] Source of the story: 0xbeyondlee.eth
OKX Activities This Month#
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