Lately, it feels like the attention economy is truly the sharpest knife: when a hot topic switches, the K-line skyrockets, and in the group someone shouts "The ecosystem is about to take off," I get itchy hands. But now, when I see a sudden surge, my first reaction isn't to chase it, but to think: who is dumping this wave? Who holds the chips, where is the cost basis, is it being pumped for quick turnover or to deceive people into buying in.

Just like a couple of days ago when a mainstream public chain said it would upgrade/maintain, everyone started guessing whether the ecosystem would migrate... Honestly, I don't know whether it will migrate or not, but every time there's this kind of "suspense narrative," it's easiest to hijack attention, and in the end, you're buying emotions, not assets.

I treat complexity as an enemy: I don't read ten tweets, don't follow three stories, I only focus on two things—whether the distribution of holdings is significantly skewed, and whether the on-chain cost basis is far from the current price. If it's far, forget it; anyway, there are many opportunities, but only one life.