Buying coins has always been a horse-racing logic. I usually invest in 5 projects per round, putting $20,000 into each project. For the other 4 projects, I assume they go to zero, which means the maximum loss is $80,000. For example, I bought river at around $3, and now it’s roughly 17x, worth $340,000. Although I didn’t hold onto all of it throughout, this round’s total investment of $100,000 plus river’s profit has already resulted in a very decent trade outcome. The funding background for this round of river is quite strong. First, Lao Hei and Sun Ge invested $8 million (everyone knows Sun Ge never loses money!), and later, a batch of VCs continued financing at this level, bringing in tens of millions of dollars in cash. The funding intensity is insane, and now the market cap has reached $4.6 billion. From the structural trend perspective, river’s current state is somewhat similar to when Sui completed OTC chip exchanges and then entered the concentrated pump phase. Yesterday’s shakeout reportedly pushed the control ratio from 80% to 99%. The Kol Agency for this round of river is managed by @Cipher_Dance. Many KOLs are saying this is a god-tier KOL round because almost everyone made money (except for the hedging prophets). This part might actually be one of the few potential sources of selling pressure in the current market (Tintin wanted to hedge at $15, and I told her if she wants to short, just say it outright instead of finding excuses).