Over the past couple of days, I’ve been watching the fund flow of PFP/member projects. It feels like once the hype kicks in, it easily turns into “attention first, then talk about value”… In plain terms, what truly sticks around depends on repurchases and retention. It’s not enough for wallet addresses to just increase; whether they’re still active after a week is what really counts. The same goes for brands—whether people are willing to repeatedly use or mention them is more important than how good the profile picture looks.

By the way, it’s pretty surreal that hardware wallets are out of stock, but the phishing links are even more terrifying. Just sharing one in a group can get someone caught. Anyway, I now avoid clicking on links like “claim whitelist/upgrade membership” — I’d rather miss out. I’m tired but still here, slowly watching the data.