Why do I feel itchy? Actually, it's not about looking at candlestick charts, but seeing projects post "Milestone Achieved" posters again, and my mind automatically pairs it with radio background music: Is this song really sung or lip-synced... I just want to click in and see how they spend the treasury.

Right now, I look at it more roughly: where the money is spent, how often it’s spent, and whether there’s anything tangible after spending (code updates, audits, governance proposals that people argue about, ecosystem subsidies with reviews). I’m most afraid of those where the treasury moves only for "market/partnership/branding," sounding like advertising, but the community is left with only reposting lotteries.

Recently, the funding rates have been extreme, and in the group, people are arguing whether to reverse or keep squeezing the bubble. I’m not guessing the direction for now; I’m just watching who still delivers on schedule and keeps transparent accounting during these times... If the music sounds bad, I’ll switch channels.