Recently in the investment scene, we finally saw the first project that broke its issue price right after launch. @KaitoAI Launchpad's public sale project @Novastro_xyz, with a valuation of 50M and fundraising of 2M, was oversubscribed by 235%. But on the day XNL went live, it immediately dropped below its issue price, and FDV is now only 12M. Heard the project team directly pulled the liquidity pool for a soft RUG. Sigh, hope @zkPass doesn’t follow the same path. Kaito’s launch speed is just too fast, and without support from its own CEX/DEX, it’s turning into a Foxconn assembly line. The recent investment scene feels a bit like the 2022 IEO craze—projects were all about quick profits, starting with 20X gains at launch, then slowly dropping to 2X, then breaking issue price, and finally fading into obscurity with no one paying attention. To all the investors out there, make sure to do thorough project research these days.