Look at the fundraising approaches of these new tokens now. Basically, they just set an outrageously high valuation, and as soon as they go live, it becomes the peak. From the moment they are listed, there’s almost no room for growth; it’s completely financial magic.

Compare the appetite of large and small projects—top-tier projects often have valuations in the tens of billions of dollars, while mid-tier projects also reach several hundred million. Everyone has long been used to this; the figure of tens of billions of dollars has been overused, and no one can keep track of the zeros anymore.

Looking at it from another perspective: earning ten thousand dollars a year and saving it until you have enough profit to cover the valuation would require working from the dinosaur era until now. This time cost comparison clearly shows how absurd these valuations are.

So here’s the question—do you really think these tokens are cheap? If you were the project team and knew that the valuation was already set at this level, would you continue to hold? Of course not, you’d sell while the market is hot, because this price is the ceiling.