《Primary Market Quick Review》

1. The main theme of the market doesn't seem to be AI.

The liquidity explosion brought by new projects far exceeds project development.

The new projects on Solana, about two months ago, started when Kin came out, which caused a wave

but ended with a complete disaster.

2. We ponder an important question:

If the main theme of the market now becomes new projects on Solana,

PAS is the first wave.

So what is the second wave?

We've mentioned Kin and GFM,

and there's also Boop.

The issue with Toly is the time to sell, which is too narrow; it's celebrity coins + utility,

and the friction cost of entry and exit is high.

3. Insufficient liquidity on BSC.

BSC seems to be in a vacuum state. Apart from grassroots projects like SkyAI,

almost nothing is left.

4. Solana is more suitable for strong market control.

Without market control, it won't rise in 5 minutes.

People's patience runs out quickly.

5. You will find that we have early identified almost all outstanding targets.

If you can't make big money in this group, or can't come up with A8,

it's because you haven't found heavy investment targets, in an infinitely small P.

6. The valuation of Pump is at 1 billion USD.

If handed to retail investors, it becomes 2 billion USD.

The PAS of Believe is currently 200 million.

Does Believe's revenue reach one-tenth of Pump?

That includes market expectations.

So many new projects have collapsed.

7. If we look back three days ago,

PASTERNAK has cut so many times, and IClout has started cutting.

Rato is a good subject on ETH, with a very high ceiling.

Today's results are just the opposite.

The lesson I learned from PAS

is that the liquidity environment is more important than the integrity of the project team.