#美联储政策 Seeing the central bank continue to implement a moderately loose policy, I have to say honestly: this environment is the most prone to problems.

Remember those years? Every time liquidity was abundant, a large number of projects would rise on the trend—DeFi mining, gold farming games, high-yield financial management, it was crazy. Newcomers in the crypto world were overwhelmed by FOMO, watching others earn thousands of yuan daily, and they would turn around and invest their living expenses. What happened then? Three months later, the project team ran away, the money was gone, and people were disillusioned.

Loose policies mean more money in the market, but where does this money ultimately flow? Into truly valuable projects, or into those air coins wrapped in stories? This is an eternal question. Having been through the pitfalls, I know that the better the times, the more vigilant we must be because the big players are also stirring.

Long-term benefits like RMB internationalization and promoting digital RMB won't immediately cause a surge in prices. But don’t be fooled by these macro narratives. What really matters is: examining whether the projects you hold still have vitality, whether they are just surviving on financing, and whether their code is truly operational. When liquidity increases, the methods of cutting leeks will only become more diverse.

Living longer is far more important than making quick money. This is experience earned with real money.