It looks like this time we can finally prove something—the Cookie mindshare ranking that everyone used to focus on isn’t actually that meaningful as a reference😏

A certain exchange just released its monthly mindshare ranking data, and it’s pretty interesting. I remember not long ago the market treated this indicator as a wind vane, but now when you compare it to actual performance, you realize that good-looking data doesn’t mean a project is actually solid.

Mindshare, to put it simply, is just an attention metric. A high ranking does show that something is being talked about, but can all that hype actually translate into real value? That’s a completely different story. Some projects are all talk, their communities are super active, but their fundamentals are a mess; on the other hand, some low-key projects may not stand out in the data but have solid technical progress.

So, when evaluating a project, you really need a multi-dimensional analysis. Don’t just judge based on a single indicator—it’s easy to get misled by surface-level data.