The number of encrypted projects #加密项目 has surged, covering public chains, DeFi, NFTs, RWA tokenization, and other tracks. Innovation is rapid but there are also issues such as mixed quality, imbalanced token economics, and insufficient team transparency. Some projects lack application scenarios and rely on speculation, posing high risks. Quality projects depend on technological breakthroughs and compliance to attract investment, and the market is gradually driven by value. Investors need to pay attention to the team, technology, etc., and avoid blindly chasing high prices.