In the past, I would judge a project just by the candlestick chart (K线) and how loudly people shouted about it in the group chat, and I’d often end up as the one who “exits liquidity”… Now I’ve learned to be smarter: first I go check the treasury and how they plan to spend it. The money is mainly dumped into audits, development, and operations that can line up with milestones, which still looks like they’re actually doing work. But if half the treasury goes into “market cooperation/consultant fees/ecosystem incentives,” and the milestones are written like wishes—plainly, it’s just giving themselves a step to get away.

Recently, the whole AI Agent and automated trading setup has been hot again. Some projects hype “automatic on-chain interactions” every day, but their contract permissions are opened like they’re not locking the door, and the treasury doesn’t seem to be spending on security either—so I’ll just pretend I didn’t see. Anyway, I’m still the kind of person who can get impulsive and want to jump in, but at least for now I’ll look once: are you really building a product, or are you just dreaming and trying to sell me a story?