I also want to say a few words when I saw Teacher Jason mention the topic of counterfeit coins. Firstly, I fully agree with the principle of not rushing into the market without narrative, especially since the listing of CRCL shows that there is still a lot of money. However, it cannot be ignored that when CRCL rises, it is actually drawing blood from other US cryptocurrency targets. At that time, both MSTR and Coin were falling due to insufficient liquidity, and investors were not willing to spread their eggs in different baskets. Why do I say this? Because it's not just cryptocurrency altcoins that are facing liquidity shortages, but also the trend of US stock altcoins is not good. For example, small cap stocks represented by Russell 2000 are also in a mess. Not to mention small cap stocks, even companies like Nike, McDonald's, and Lockheed Martin are not performing well, or it's difficult for them to surpass the S&P 500 except for Ai. Essentially, it is due to insufficient liquidity, and the reason for the lack of liquidity is not that there is no money in the market, but because of the current state of monetary tightening, many people are afraid to invest easily, which is why there is a problem of competing for "good targets", as Mr. Jason said. The better the targets, the more people will buy them, while ordinary targets are less sought after. The essence is not that these targets are bad, but because of the more attractive plan of "no sector rotation", which is related to investors' risk appetite. The lower the risk appetite, the less likely there will be a knockoff season, and the higher the risk appetite, the better the knockoff season and small cap stocks will rise.