There is an interesting market phenomenon worth paying attention to—the difference in returns between early participation and late entry. Taking blockchain projects as an example, it usually follows this pattern: 2025 is the window for smart capital deployment, as they build positions before the general public even reacts. By 2026, the public begins to notice the opportunity and rushes in. By 2027, latecomers can only watch prices soar but cannot participate. This cyclical pattern repeats with each bull and bear market. Of course, this doesn't mean that the earlier the better—it's crucial to choose truly valuable projects. The market operates this way; information asymmetry and decision-making speed determine returns. Where are you in this cycle right now?