Is Chop Season Coming?

The global market cap, as previously reported, continues to fall, bringing down apex tokens like Bitcoin and Ethereum. Moreover, this gap in the market has been filled with numerous tokens that are seemingly coming out of the woodwork every day. Top gainers included Yearn-finance, which rose over 17% to surpass $24 thousand, Celo, which jumped nearly 10% to $3.85, and Arweave, which rose almost 9% to well over $45. However, these gains might cover up what influencers like Michael Van De Poppe are calling “chop season.” Van De Poppe’s definition of chop season says it all, “welcome to chop season. The season where all the gains of day 1 are lost on day 2 and everything flip/flops within 24 hours, also the ideas of people on the markets.” At press time, Yearn-finance was still rising, up nearly 30% and trading at just over $27 thousand, approaching its 24-hour high.