#加密价值投资 The explanation is a bit long-winded, but the principle is still the same, that is, no matter whether it is a bull or bear market, no matter whether the FDV is high or low, if you don’t understand it and don’t want to hold it for a long time, no matter whether it is a new or old stock, stay away from it, otherwise you will die miserably. This is a painful lesson.

Recently, some friends have been discussing what coins should and should not be listed on Binance. I will try to explain: The cryptocurrency world is a free market. The liquidity and trading volume of CEX and CEX, CEX and DEX, and various trading platforms are a total pool. CEX is not a closed market. Even if Binance does not list these projects, these projects still exist. Trading volume and funds will also be diverted to the corners of the entire industry. In addition to the unlocking of VC-invested projects, Meme coins, chain-based local dogs, wool-pulling, and capital plates will all be diverted. After the ETF is approved, the traditional financial market will also divert funds that flow directly to the cryptocurrency world. Let's look at VC again. Some VCs are indeed the core reason for the inflated prices, but VCs generally raise funds from LPs for a 7-year lock-up period of 4+3 years, collecting management fees + dividends; VCs are generally unlocked one year after TGE (not all), so many VCs in the cryptocurrency circle are also going bankrupt, and some VCs' LP investments in the cryptocurrency circle may also return to zero; and project parties that have received large amounts of financing have more possibilities to cross the bubble cycle, but the fundamentals of the currency price and governance model are determined by the project party, and there is no standard answer. Therefore, before investing, everyone needs to do a more in-depth analysis of the project tokens, such as token application scenarios, release cycles, holding ratios, and initial circulation. There is no standard answer.
The rise of Defi has brought more liquidity to the industry and increased freedom, which has increased the difficulty for CEX to try to formulate rules, but this is precisely the charm of the free market in the cryptocurrency circle. DYOR