Main site alpha rush is all about quick reflexes; a slight second delay and your wallet is gone.

Recently, this wave of on-chain IPOs really has some substance. I followed rave, wet, cys, us—several targets—but all ended up missing out. Looking back, the problem isn't judgment—it's execution—seeing clearly but being slow. What's the difference between being slow and not seeing clearly? That's just how this industry works. The "money printing machine" is right there; if you can't grab a spot, you can only watch others cash in.

I call this kind of gameplay "VC-style pump fun." Essentially, exchanges slice off a small piece of the primary market and hand it to retail investors to give you a sense of participation. But don't get it wrong—the true big wins are never for you and me; just getting a taste of the second round is already a win. There will definitely be bots coming into this space, and then pure manual players will have it even harder.

But the cycle law is like this: reform, dividends, involution, collapse, then reform again. We're still in the transition from the dividend phase to involution, and the window isn't fully closed.

Being able to catch these waves in a bear market, honestly, feels pretty satisfying. Next time, I’ll go all-in.