I'm now observing whether the project team is genuinely working hard, rather than just making empty promises. Mainly focusing on two things: how the treasury funds are being spent and whether the milestones are being delivered on schedule. If the money is being spent in a "normal" way, I will feel more at ease, such as ongoing expenses like development, auditing, and operations aligning with progress; the worst is when there's a sudden large sum for "market cooperation" or "consultant fees," while the product is still just spinning in PPT slides... Basically, they're using the treasury as an ATM.

Recently, there's been talk about increasing taxes and compliance in a certain region, sometimes tightening, sometimes loosening. Expectations for inflows and outflows fluctuate, and people tend to get anxious. The project team also tends to leverage these emotions. Every time I feel like impulsively placing an order (especially when I see messages in the group saying "it's about to take off"), I force myself to first pull up the treasury address and look at it for two minutes, then check if the latest milestone update includes code or physical deliverables. If not, I pull my hand back, at most hedge a little with options, and leave it at that.