Recently, while reviewing a major exchange's quarterly ecosystem report, I noticed an interesting detail — Space is the only project in the report that has not yet completed the TGE, yet it is listed among the already launched projects.

These reports are published only four times a year, and the selection process is very strict. Being given a special exception to be included is quite rare. I have encountered similar situations a few times before, and they generally correspond to moments when market attention begins to shift.

Think about it, Space going from being overlooked to gaining exposure in a report of this level is itself a signal — either there is new progress in fundraising, or the project team has attracted enough attention. In any case, it’s not an arbitrary choice. The selection logic of ecosystem reports is very meticulous, and when such "breaking the norm" phenomena occur, it often indicates that market focus is quietly shifting.

For those tracking early-stage ecosystem projects, these subtle changes are actually more worth pondering than straightforward news releases.