"The encryption is over", I have to hear this sentence several times every year.

Recently, it has indeed been quiet; the VCs have gone on vacation, and there hasn't been much movement from the project parties, nor have any new narratives emerged.

After experiencing several months of intense information bombardment, the market needed a hard reset.

This is necessary for the subsequent rhythm of new projects and new narratives.

Now everyone is waiting for the next wave of new meta, waiting for new VC investments.

These will likely appear gradually in the next 3 to 6 months.

Before that, it is actually the best window period for retail investors; the competition prices are very low, just right to hone capabilities, patiently observe whether the projects in hand can survive to the next stage, or what the next hotspot will be, and gradually lay out.

Otherwise, when the time comes, new projects, new announcements, new launches, and new waves of people will all surge in together.

At that time, everything will become noisy again.