December 17, 2025, 73rd day of holding no position, account balance 2,282,819 USDT.

To be honest—many people have a deeply ingrained misunderstanding about ecosystem tokens.

How much imagination can you really have just by being next to a leading exchange? Overthinking it. All your recognition of that top exchange ultimately boils down to its native token. Why? Because that token is unique; all others are interchangeable. Not a single one is different.

Take some projects as an example; I’ve expressed my views countless times. There are still people discussing them repeatedly in the community, but the facts are right there. Let’s set aside pure air concepts and look at tokens with real industry support and the ability to generate genuine revenue. Compare them.

The leading project in the lending sector—AAVE—compared to similar products like XVS, or BSC’s LISTA and CAKE compared to similar projects on Ethereum or SOL chains. The data speaks for itself.

The management teams of projects on BSC generally have limited vision. What’s even more painful here is— that leading exchange holds the strongest traffic and capital reserves. When they see a promising sector, they copy it; when they see a good concept, they invest. Their approach is very similar to certain internet giants. Pure capital behavior, a manifestation of the strong getting stronger.

They don’t just focus on one project but are simultaneously laying out many lines. As for which one will succeed? Honestly, they might not even know themselves. Many projects they invest in fail. Why should you have such confidence in the imagination space?

**The key point—don’t be hostage to your own assumptions.**

Don’t just listen to stories. Even if the project itself is excellent, what if the token isn’t well supported? What if the release volume is huge? These are signs of a potential downturn. You need to evaluate from multiple dimensions, see the real things, and reduce fantasies.

If the project is truly good, then wait for the bear market to reallocate. Thinking about long-term layout and imagination now? For projects with obvious flaws, the bear market will crush you into despair, make you think you’ll never break even in this life, cause your mindset to collapse, and waste many years of your time, opportunities, and funds.

Even good projects without obvious flaws will experience significant retracements when shifting from bull to bear. First, understand the big trend. If you don’t see the big trend clearly, you won’t be able to effectively layout any single project. No imagination space, let alone long-term holding.

Limited words, that’s all I’ll say.

Getting rich is hard, and preserving wealth is hard too. Slow down, even slower. Certainty and safety come first, profit second. Learn from value investors, think in terms of years, never take risks. The only result of not being able to hold back is one—zero.