Having observed the market performance in this round, there are some insights worth discussing.

Carefully analyzing this wave of行情, projects represented by Chinese coins are indeed following a clear cyclical pattern. The gains, which used to be tens or hundreds of times, are gradually returning to a more rational range, and this is no coincidence. The underlying logic is quite simple—each bull market attracts大量资本, but the purpose of that capital has never been to hold long-term.

By around 2026, this trend may become even more pronounced. Capital布局,拉盘, and收割 have long become standard procedures for certain projects. They are very good at creating声势, and a compelling story can attract a large number of followers. The problem is, when the story can no longer be sustained, what happens to those late investors?

The risk lies here—be cautious of projects that过度承诺, especially those that通过社群造势 and过度宣传 to attract newcomers. Genuine project development takes time, not just a漂亮的故事. If you see a Chinese coin project immediately claiming it will必涨十几万倍, you should stay alert.

Market education for investors can sometimes be very harsh, so I hope everyone can learn their lessons with less cost.