As of now, the overall L1 projects launched in the 24-25 fiscal year are not as good as the L1 projects launched in the 23-24 fiscal year. Especially in terms of investment institutions, concepts, and strength, they cannot compare with SUI. As for the actions of the projects in the later stages, that still needs to be observed.

I haven't seen A16Z participating in investments, and there are very few projects invested in by CB. Moreover, there are some projects that seem to be rehashing old concepts.

Although the overall market capitalization is not high, this might be somewhat related to market liquidity.

Of course, to reach the heights of SUI, or even $XRP, ADA, or SOL, achieving a tenfold or even higher increase in the secondary market is actually still very difficult. Even if it happens, it's not now. I estimate it's only a fraction of 16.

However, this doesn't mean there aren't opportunities to make money. After all, these projects have experienced a short time in the $BTC market. When BTC subsequently bottoms out and rebounds or pulls up to a main wave market, and ETH shows an upward trend, I believe these projects will also have opportunities.

For example, previously, INIT and PARTI performed quite well during this wave of BTC rising from the 8 range to 106. Of course, it's already quite high now.

However, those financing amounts are not large, and the project official Twitter accounts are not very active. For projects with weaker strength, it's still wise to be cautious.