Wu Shuo learned that the crypto trader The White Whale posted that in the next cycle, he might lower the exit target price for SOL to below $200. He emphasized that "passion is not a sound investment logic" and listed multiple reasons for lowering expectations: the narrative of pump fun and other meme coin casino stories is fading; the Drift incident has dealt a heavy blow to Solana DeFi perception; institutions previously trapped at high positions have made it harder for the next wave of funds to enter; core ecosystem voices are dispersing attention to other chains like Zcash; and projects like Phoenix, which are heavily promoted, have experiences that are too basic, among others.

Solana co-founder Anatoly Yakovenko responded that the core innovation of DeFi is simplifying financial functions into smart contracts, and that re-implementing and forking revenue-generating products is normal in the crypto industry. It is not inappropriate for Phoenix to compete with Hyperliquid. The White Whale then responded that his criticism is not aimed at the underlying technology, but that Phoenix's current features and experience for traders are still quite basic.