The strategy of "low liquidity with high Full Diluted Valuation (FDV)" was pioneered by Alameda, gained momentum in the Solana ecosystem, and has been greatly amplified by the pricing power of Western venture capitals. It's now a significant factor causing market losses.

The swift attention and launch of a public listing recruitment plan are commendably quick.

I am optimistic about the future of application-layer projects, especially for Chinese entrepreneurs. Chinese teams are typically product and technology-oriented, with less emphasis on storytelling but strong in execution and technical expertise. These projects often win through their scenarios and economic models, achieving impressive data and growth without relying on elaborate narratives or strong VC backing.

The arrival of the traffic era and a shift in Binance's listing preferences could lead to significant opportunities.