One obvious phenomenon in the cryptocurrency market over the past two years is that project teams are eager to create narrative nodes to attract attention. Upgrades, splits, new mechanisms... endless concept hype, but the underlying logic often cannot withstand scrutiny. Under this model, projects with real product progress and ecosystem development are often drowned out. Even more painfully, many retail investors are repeatedly cut in these narratives, while project teams show little interest in improving fundamentals. This is a stark contrast to the early days when there was still a focus on technological iteration and ecosystem expansion. The entire ecosystem seems to have entered a vicious cycle: traffic is king, while fundamentals are neglected.