Recently, I've seen a bunch of PFP profile picture changes, member group promotions, and brand storytelling... Basically, it's all about grabbing attention. Long-term value might also exist, but I increasingly believe: what really matters is not "how big the story is," but what you can actually get after joining the group, whether the rights can be fulfilled, and it would be best to have some stable cash flow. Otherwise, once the hype passes, all that's left are meme packs.

I thought that membership would be more "stable," but many projects are just packaging FOMO more delicately, similar to the recent stacking and shared security yields that get criticized as "copycat" strategies: layers upon layers, and no one clearly states who will cover the bottom. When the market heats up, I think I'll reduce my holdings first—losing a bit of profit is okay, at least I can sleep peacefully.