Diving Observation Diary Special Edition - Singapore Essay Although I won't be returning to my home country until tomorrow, I have already sorted out many ideas quite clearly Let's start with some negative opinions: 1. The orthodox cryptocurrency circle (forgive me for coming up with this term) has experienced class solidification at every level of the industry chain, whether it is exchanges vc、kol 、 The project team has almost formed a class solidification, and the path to breaking through class can only wait for the upper echelons to make mistakes. Among them, the class solidification of the project team is the most invisible. Here, the solidification is not only about family background, education, and qualifications, but more importantly, nationality. The valuation of Chinese projects will be reduced by 70% first, while in the project team, Chinese identity will lose half first. In contrast, in the AI circle, if Chinese teams are willing to go abroad, the valuation will increase by 100%. Therefore, Chinese talents will further enter the AI circle from the cryptocurrency circle until one day China lifts web3 regulations; 2. Grassroots opportunities can only be found in non orthodox markets, which actually have much greater opportunities than the circle mentioned above. Of course, the legal risks in non orthodox markets are definitely higher. I have seen many brothers from neighboring circles and found that they are also quite difficult; 3. To some trading friends: Macroscopically, both China and the United States are quite bad, with rising unemployment rates and AI being a further disruptor of the employment environment. The US stock market relies on Nvidia, but Nvidia's entire model is also a bit lackluster, and perhaps another wave will shatter it; In terms of on chain transactions, blocking low end PVP has become a consensus, and second stage takeover has become the worst choice. If everyone used to perform second stage takeover well before, then this time everyone will not perform. The consensus of on chain transactions is to put aside face, only block the bottom/open the market by oneself, open a new wallet to buy coins, and then sell the goods in the new wallet by shouting orders at one's own address. There are 40 addresses per person in transactions, so there is no need to play with a few famous brand addresses like me (only applicable to BNBChain, etc.). Let's talk about some positive aspects: 1. More and more North American teams with good backgrounds are entering the industry with a large amount of circle resources. They have made significant contributions to the growth of stablecoins, and from a business model perspective, they generally have good revenue. Whether it is issuing coins or going public in the United States, they are good choices; 2. First tier institutions in North America are still participating in investments, and they are also pushing project parties to further understand the Chinese market. More and more projects and institutions are heading directly to China to seek KOLs and traffic cooperation in the Chinese speaking region, and disintermediation has become a new consensus. The only downside is that KOL agency quotes are gradually becoming more transparent, sometimes leading to explosive discussions; 3. The biggest opportunity has already emerged, and various infrastructure opportunities based on stock listing will emerge, which may give rise to the next project like AAVE. Those who have the ability to do it themselves, and those who do not have the ability to do it, will suppress the seed players. In addition, compliance ability is the first element; 4. If you have a strong background, then now is the best time to start a business because you have fewer competitors. However, before starting, it is best to make sure that your background is strong enough. RWA and AI directions are still the directions that everyone will pay attention to at the end. Your project must have equal rights in both currency and stock, and confirming your own income is the most important thing; 5. Don't die on the chain. If it's a project in the Chinese speaking region, the more FUDs there are in the Chinese speaking region, the more they need to be promoted; It's better to go and see what foreigners are playing, but when it comes to real foreigners, FOMO is actually a bit distorted above Finally, thank you for the invitation from Binance and Coinbase