Recently, a phenomenon in the cryptocurrency market has been observed—often, evaluating a project has become extremely one-dimensional. Price increases mean a good project, and those without growth are sentenced to death. $XPL What we are encountering now is a test of this environment.

But if we look a bit further back in time, the situation is different. Many projects did not truly stop during periods of market calm. On the exchange floor, the content output of XPL continues, although without high-frequency updates, the rhythm remains steady. This way of working seems more like following their own plan rather than being led by market sentiment.

Objectively speaking, XPL's price performance is indeed not outstanding. It fluctuates within a range, with little volatility, making it hard to catch the eye of traders. But from the perspective of project progress, this stage actually provides a relatively stable space for technology and planning.

Too many technological breakthroughs and big moves are not suitable to be pushed during the market's most frantic times. At that time, information is dense, the pace is too fast, and it's easy to lose focus. Now, in this relatively calm environment, it’s actually an opportunity for teams that are serious about their work.

My focus when observing projects has always been on coherence—are communications intact? Is the rhythm disrupted? Currently, XPL shows no warning signals of these issues. It does not rely on exaggerated rhetoric to artificially create hype but maintains a relatively restrained presence.

Of course, whether it can ultimately succeed depends on subsequent implementation. But at least at this stage, the project has not been distorted under pressure. I tend to believe that XPL is underestimated by the market’s attention rather than the project itself lacking value.