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Recently, I stepped into a pit on BSC. First, I bought MO, then I found that there was also an OG version of MO being pumped, so I thought about getting some of both since I didn't know which one would rise. Then, a project called LUMO suddenly appeared, so I decided to participate in all three. Unexpectedly, an OG version of LUMO also emerged in the market, so I ended up holding all four.
What happened next? All four projects ended up with losses.
This reflects a phenomenon on BSC nowadays: projects with the same or similar names are everywhere, and investors can easily fall into a dilemma of choice amid information chaos. I initially wanted to diversify risk, but ended up attacking from all sides and didn't make any profit. Such situations are common on the chain, especially with popular tokens that easily spawn various derivative projects, which can mislead newcomers.
It seems that making decisions in this market requires more caution, rather than blindly going all-in on similar projects. Although the BSC ecosystem has many projects, their quality varies greatly, so it's important to do more research.