And this round, $ETH hasn’t even effectively surpassed the high point of 2021 yet. As for $LTC and $DOGE, they’re still far from their 2021 highs. Looking at the sector overall, the only ones that have surpassed the 2021 highs are platform tokens—$BNB, $OKB, and $GT have all exceeded them, and even MX, the platform token of MEXC, has surpassed its previous high. Only those extracting profits from the gambling industry, with relatively high entry barriers, can hit new highs each cycle. Meanwhile, this round saw Bitget rise sharply, entering the ranks of second-tier exchanges, and $BGB has delivered the highest returns among mainstream platform tokens this cycle. I believe the next cycle will still see emerging forces like $BGB making their mark.