Policy hotspots rise as soon as they are touched! $CFX plummeted by 95% and then surged again!
Recently, many people have been discussing the CFX project,
Thirteenth Aunt is taking the risk of offending people to say a few words for you:
CFX is an old project that listed on Binance in 2021, relying on domestically produced Ethereum and the hype of national support, it rose to nearly $2. As a result, there were no signs of policy support and the technology was lacking, leading to a direct drop of over 95%.
Now this team is playing the old tricks again, specifically riding the domestic policy hotspots! The recent two surges were triggered by the release of a blockchain highway document in Shanghai that was later deleted, and by the hype around the Hong Kong dollar stablecoin and offshore RMB issuance. However, historical experience shows that every time a hotspot arises, it surges 3-4 times, followed by a prolonged decline, leaving retail investors to be the ones left holding the bag.
This project survives on patriotic marketing and policy fantasies. What on-chain circulation of RMB/HKD stablecoins? The US dollar stablecoin is universally accepted, and any small chain can support it, but which small chain has become successful because of this? None! Retail investors have no memory, no logic, and the project parties specifically target these kinds of people.
Either play with the big players, but you must enter and exit quickly, taking profits immediately after a 30%-50% rise, don’t be greedy; or simply do not touch it! Such projects lack technology, lack an ecosystem, and rely solely on emotional speculation, ultimately resulting in a mess.
Remember: In the crypto market, if the policy concept has no real capability, it is just a harvesting tool. Be rational, don’t be a lamb to the slaughter!
