Recent observations in the crypto market are worth mentioning. First, let's talk about project participation—there's a public fundraising project that looks quite significant, but the outcome is a bit interesting. I participated in the public raise with $5,000, but only actually sent in 30 USDT. The project team refunded all the public raise funds, and the tokens were airdropped directly to the wallet. The airdrop consisted of 711 tokens, worth less than $20. After deducting $10 for KYC costs, I ended up earning about $10. This experience was quite average.

In contrast, the performance of a recent project has been much better. A leading exchange platform's pre-TGE tokens recently opened for trading, and the market has been quite good, making it a rare high-yield opportunity in recent times. After deducting costs, the airdropped value could be over $100, which is the right way to do it.

Looking at the broader market picture, an interesting contrast has emerged. Gold continues to hit new highs, while silver, copper, and other commodities are also rising, seemingly attracting all the capital. Meanwhile, the enthusiasm for Bitcoin has waned. While gold hits new highs, Bitcoin's price is shaky, a stark contrast like fire and ice.

There are increasing discussions online about Bitcoin potentially dropping below $20,000. If such a trend occurs, the altcoin market might see bloodshed. This is also why the risk associated with holding altcoins is being reassessed—rather than passively holding and risking a decline, it might be better to look for shorting opportunities to profit. The market is already redefining the risk-reward ratio.