2026-01-06 14:20:37

On January 7th, I looked at a new project and immediately concluded—don't touch it, just sell when you get it.

The discussion about this project is already widespread in the market, and the hype is not low, but hype does not equal quality.

First, let's look at the team background. This is a startup team with roots in the NFT and DeFi sectors, which means they have experience in the crypto market, but having experience does not necessarily mean this project is reliable. The track is positioned as L1, but targeting the BTC ecosystem. This direction has been popular in the past two years, but there are already many competitors.

The fundraising scale is 10 million, which is neither big nor small. Given this valuation, it indicates that both the valuation and the fundraising expectations are within reason, but it also precisely shows that there are no particularly outstanding fundraising achievements and no backing from top-tier institutions.

Overall, this is a standard, even slightly mediocre project. If you've already invested, rather than waiting, it's better to exit as soon as possible.

BTC-0,26%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

10 Likes

Reward
10
9
Repost
Share

Comment

0/400

SmartContractRebel

· 01-09 00:39

The higher the popularity, the more dangerous it becomes. This is a typical case of "hype without substance." Don't let public opinion drown you.

View OriginalReply0

GasFeeNightmare

· 01-08 22:40

High popularity ≠ making money. How many people still have to suffer losses to understand this truth? --- It's the same old story in the BTC ecosystem. Still dare to enter when competitors are piled up? What's the point? --- Raising 10 million without backing from top institutions, now it's clear, right? --- I was wondering why the discussion was so heated; turns out it's just a scheme to harvest the leeks. --- Saying "sell as soon as you get it" is not wrong at all. Coming from DeFi, it can't save this broken project. --- Daring to touch mediocre projects, it's really the gambler's mentality at work. --- Who in the L1 track doesn't have a dream? The problem is, this dream needs to wake up.

View OriginalReply0

OfflineValidator

· 01-08 14:33

Hype really can be deceiving. It looks like the whole world is talking about it, but in reality, it's just a fundraising scheme hyping itself up. Once again, it's an L1 in the BTC ecosystem. How crowded is this track... With only 10 million in funding, do they even have the right to show up? Without a leading institution backing it, it's just a signal. The team comes from an NFT background... Ha, when was that even? Are the experiences from the NFT world really valuable now? Honestly, I've seen many projects like this—mediocre to the point of transparency. Entering them is like gambling; cutting losses in time is the real strategy. It feels like the market has lacked genuine assets in the past two years—it's all these hybrid projects that don't really amount to much.

View OriginalReply0

DuckFluff

· 01-07 21:14

Is hype just a signal? Wake up, this is just the prelude to a rug pull. Bragging about only 10 million in funding? Without top-tier institutions backing it, what does that say? Both NFT and DeFi backgrounds, and yet it’s become so mediocre here, hilarious. Did you jump on the BTC ecosystem trend? Early entry means early exit, don’t be blinded by the hype. A seasoned team producing this level of work, I can only say haha. If you ask me, it’s better to get on board early... no, better to run early.

View OriginalReply0

TokenomicsTrapper

· 01-06 14:50

lmao "experience from NFT and DeFi" is code for we've already lost money twice before... classic pattern recognition here, 10M raise screams "couldn't get the A-list VC attention" tbh

Reply0

AirdropF5Bro

· 01-06 14:44

High popularity = guaranteed to be a rug pull. I've seen this trick too many times. Those NFT folks building L1? Laughable. With this level of funding and no backing from top institutions, they should have exited long ago.

View OriginalReply0

GateUser-a5fa8bd0

· 01-06 14:39

Popularity = Quality? That's laughable. This scam has been around for ages. Mediocre projects piling up, 10 million in funding is nothing special.

View OriginalReply0

WhaleShadow

· 01-06 14:27

Another project with high hype but little substance, I've seen too many of these. They only raised 10 million and still dare to promote? How does this lineup compare to real top-tier projects? My advice is simple: once you get in, you're just taking the fall.

View OriginalReply0

BuyTheTop

· 01-06 14:24

Popularity = Cutting leeks, I've seen this trick too many times. Don't even think about it without backing from top-tier institutions.

View OriginalReply0