Binance's current transformation is like the stock market changing from an IPO approval system to a registration system. Accelerate the process of listing coins while also accelerating the removal of low market value junk coins that do not meet the requirements. There is no problem with the essence. The biggest criticism before was the sky high valuation of VC coins. Now that the overall valuation has been lowered, it will further test the ability to pick gold. It is also easy to go public on the Hong Kong stock market. Many companies that are stuck in the A-share market choose the Hong Kong stock market, but traditional businesses cannot achieve high valuations in the Hong Kong stock market. Because there are too many PRO users and institutional investors in the Hong Kong stock market, the power of individual investors is very small. PRO will be priced at a reasonable premium and valuation. When PRO users and institutional users account for the mainstream funds in the current cryptocurrency circle (retail investors are almost losing money), the pricing of more PRO users and institutions becomes even more important. There will be less FOMO chaos among retail investors. Level 2 fully enters PRO mode, only those who are more PRO can win And at level 1.5, due to differences in information, experience, resources, and various technical abilities, there is still a huge arbitrage gap, I judge. So, I consider myself to have a B-level ability at the second level, while on chain Alpha ability and 1.5 level ability have reached A or above, so I have decided not to pursue a second level. In my understanding of the market, the PRO mode is fully operational.