$GT The current round of Bitcoin rally has a characteristic: compared to 2021, each upward move is followed by a deep correction, always giving the impression of weak upward momentum. However, the recent decline has been swift and sudden without warning. This actually signals a bad sign—that Bitcoin has entered a mature phase, with its market cap gradually reaching a ceiling and beginning to lose the wealth-creating frenzy. The risk-to-reward ratio is even less attractive than that of the US stock market. This is also why major platforms are actively seeking to transform through real asset tokenization. This anxiety and uncertainty about the future are also reflected in platform tokens. When Bitcoin falls out of favor and altcoins are not in demand, how can major exchanges empower their own platform tokens? I believe a clear answer will emerge within the next year.