#以太坊投资机会 When I saw these two messages, my mind flashed back to the 2017 bull market. The atmosphere was similar—whales quietly accumulating, industry consensus gradually forming, while most people were still on the sidelines. The difference is that back then, our understanding of risk was far less profound than it is now.

Yili Hua mentioned "controlling risk and measuring risk-reward," which is a truth only realized after going through several cycle cleansings. The recent continuous buying by whales in ETH is indeed worth noting, but what I care more about is the logic behind this buy signal—whether it's driven by fundamental improvements or merely by capital flow. After the prosperity of 2021, we've seen too many stories that were hyped up and then fell flat.

And Alex's words actually touched me. He talked about complacency culture, a well-worn but easily overlooked issue. It reminded me of the lows in 2018, when many projects lacked this sense of crisis and were eventually eliminated in subsequent competition. Ethereum's moat does exist, but whether the walls can be further reinforced depends on whether the community can maintain that clear-headed obsession.

It is indeed a good window for layout now, but the prerequisite is that you think clearly about why you're buying, rather than following the trend. The lessons of history are right there—each opportunity is accompanied by seemingly reasonable narratives, but those who truly make money are often the ones who can stay calm even in the heat of the hype.