#0xCult In-Depth Review In this issue, we invite the on-chain address expert—Teacher Fries @0xCryptoFries. He has been battling with market makers on-chain for four years, and his style is unique. Compared to other KOLs, Teacher Fries focuses more on information flow collection, with a stable approach that emphasizes logical thinking, contrasting sharply with the fast-paced trading style of Teacher 96, who relies on market feel and intuition. Reasons for Recommendation and Guest Introduction For many newcomers entering the primary market, the initial approach is mostly PVP, relying on scanning chains and monitoring the market to make small bets for big gains. This "small bets for big gains" trading method has a low entry barrier but high risk. Strategies like scraping addresses and finding market makers, which lean more towards professional information mining, are often overlooked due to high technical and experience thresholds. Teacher Fries is one of the few KOLs who shares these high-threshold strategies in a "feeding" manner. He initially followed the PVP route but did not achieve ideal returns. Instead, he explored and developed his own information flow trading logic through practice, gradually building a keen ability to capture on-chain behaviors and capital flows, which is very worth learning and emulating. Teacher Fries' Features: 1. Precise tracking of front-row address information and analysis of capital correlations between addresses. 2. Chain scraping teaching series. 3. In-depth analysis of popular projects and calculation of average holding prices. 🔗 Beginner's Guide to Finding Market Makers: First Article of the Beginner's Guide to Finding Market Makers 🔗 Beginner's Guide to Finding Market Makers: Second Article of the Beginner's Guide to Finding Market Makers 🔗 Example Analysis Content Reference: BNB Card Article 🔗 Example Analysis Content Reference: Answers to the so-called "Winter Addresses" in the Market Entry Opportunity: The Accumulation of Time Like many people, Teacher Fries "broke into" the crypto industry during a bull market. In 2021, he was attracted by the crazy surge of Dogecoin and decisively bought $SHIB after initial research, achieving a 20-fold return as a beginner. This wave of profits solidified his determination to continue delving into the crypto world. In the initial exploration phase, he tried contracts and projects on the BSC chain. The high leverage of contracts led him to blow up several positions, and at one point, he relied on loans to sustain his living. However, it was on the BSC that he gradually developed a suitable method for scraping addresses and finding market makers. At that time, the behavior of market makers was relatively simple, capital flows were clear, and the trading logic was easier to deconstruct, allowing Teacher Fries to earn his first pot of gold. However, by the end of 2022, the market turned bearish, with on-chain activity plummeting and the secondary market nearly silent. He chose to temporarily leave the market and worked for two years. Nevertheless, he maintained his focus on on-chain developments and learning. Until mid-2024, when Solana surged again, he resolutely resigned and returned to the market, successfully capitalizing on the new round of profits thanks to the foundational skills he had accumulated, achieving another leap in assets. "That time in 2022" was the most stressful moment of his life. When discussing the most stressful trading experience in the past, Teacher Fries shared a leveraged operation he conducted on the BSC chain. At that time, he tracked on-chain data to grasp the market maker's control behavior and wash trading rhythm, identifying a suitable entry point. However, the market maker delayed the pump, instead continuing to wash the market and causing panic selling among retail investors. He gradually increased his position, eventually investing almost all of his remaining 20 BNB, leading to a significant drawdown in his account. He felt extreme emotional distress, repeatedly questioning whether his logic was flawed, and almost cut his losses. In the end, he chose to trust his judgment and persist. When the market maker finished washing and initiated the pump, Teacher Fries successfully exited at a price of 100 BNB, achieving his "first pot of gold" from scraping the chain and making a significant turnaround. He summarized: "Information flow trading is essentially a form of gambling, but you can use data and logic to improve your odds. On-chain trading is a magnifying glass for human nature; don’t expect insider information, and don’t fantasize about absolute safety. You can only be responsible for your own trades, continuously iterating your strategy to find a methodology that suits you." Understanding On-Chain Trading Teacher Fries admitted that he is not good at scanning chains for PVP. He has tried a few times, but it has mostly been break-even or even a loss of effort. He mentioned that the efficient scanning method of Teacher 96 heavily relies on market feel and intuition, which is a "muscle memory" type of operation that is difficult for most people to replicate. Thus, he chose to focus on building an information system that suits him, deeply exploring front-row addresses, project logic, and on-chain capital flows. He believes that if you find yourself unable to imitate a certain KOL's trading style, you should not force it but instead explore a path that suits you. We discussed a viewpoint proposed by Teacher Shanks: "The essence of making money is finding a bug and continuously exploiting it until it is fixed." Teacher Fries strongly agrees with this statement. He believes that everyone has their own "bug recognition ability," and the essence of on-chain trading is to buy low and sell high; the key is how to build a strategy that belongs to you. KOLs can provide ideas, but the real execution must rely on oneself. "There are many techniques, but few truly useful people. Learning to understand others' logic and then trying to internalize it as your own is the only way to survive on-chain." The Significance of the 0xCult Column The reason I started this column is simple: to make various on-chain KOLs more "human" and "specific." We hope to convey that we are not mythologizing any KOL, but rather letting everyone know that every impressive figure you see started as a novice from scratch, growing step by step through trial and error. As Sister Hui said—"You are your greatest Alpha." Don’t expect others to make money for you; the real Alpha strategy can only be honed by yourself. I hope each in-depth interview can help you shorten the time spent on detours and illuminate your search for your own on-chain trading style.