Then let's talk about research reports. I've been reading research reports for over five years now, and I've subscribed to a few professional research report websites. At first, I carefully read each report, looking into what architecture the project used, what new technologies were involved, related projects, investors, project parties, user numbers, TVL, token unlocks, and so on. Now, I just skim through them to understand the new developments in each sector and remember a few key data points that I need.

Does that mean research reports are useless? Research reports are useful, but you can't just buy everything that they recommend. Or rather, research reports can only serve as a supplementary aid to your trading logic, but they cannot be the main force. I rarely buy various concept tokens mentioned in the reports, just like those AI computing power tokens that were very popular at the beginning of the year—things that already exist in Web2, and centralized solutions are clearly better than decentralized ones (that's right, not everything needs to be decentralized). They come to Web3 just to cash in on the hype; they might make a profit in the short term, but ultimately, it's just a mess.

I generally only buy things that can genuinely generate a continuous cash flow. Remember, this is the true core; it allows the project parties to do their work well and promote their projects effectively. The world is bustling for profit. This year, when UNI was rumored to be under investigation by the SEC and plummeted in price, I immediately bought in. I didn't know what chain they were going to launch later, nor did I know that Trump would become president and change the SEC chairman, but I knew it was the largest DEX and a cash cow in the EVM ecosystem, with a continuous stream of profits. That was enough for me to see the potential for growth.