The NFT craze of 2021— I believe many people still remember it. How crazy was the market back then? A simple JPG image could be traded for hundreds of thousands of dollars. Digital avatars, pixel art, virtual items—everything was being hyped to the moon. Everyone was shouting that this was the future, as if getting on the train would make you rich.

I know a friend named Ah Zhe. Back then, he spent a fortune buying a popular NFT collection, and all his friends said he had great judgment. During that time, these avatars were rising in value week after week. He became more and more bold—he even used those NFTs as collateral to borrow money, and then kept buying, buying, buying. In just two months, his paper gains doubled. He felt like he was floating on air, started planning for long-term holding, and dreamed of lying back and counting money.

But the bubble burst faster than it inflated. Trading volume crashed in an instant, buyers disappeared, and a large number of the projects on the platform stopped updates. The so-called community consensus evaporated overnight. The NFTs Ah Zhe bought ended up falling to the point where nobody wanted them. His collateral loans were liquidated, and his assets were almost wiped out. This time the NFT bubble burst gave him a heavy lesson.

Looking back at this history now, it really proves one thing: not everything related to blockchain has real value. Only when the tide goes out can you see clearly—what are truly genuine technological innovations, and what are just bubbles made of emotion piled on emotion. In the crypto world, always remember: don’t treat hype as a trend, and don’t take momentary heat as value itself.

Speaking of which, if you look at mainstream assets now, BTC is still hovering around 77.50K, down -0.42%, and ETH is at 2.13K, down -0.31%. Market sentiment is indeed cautious. But this is actually a great time for calm reflection—think about what truly deserves your attention.