Fewer projects, more homogenized Twitter content—it’s time to adjust our learning approach and investment strategies. In the past, the crypto market was full of new projects and narratives, and you could seize plenty of opportunities just by leveraging information asymmetry. But now, with fewer projects and repetitive narratives, simply scrolling Twitter and chasing trends is becoming less effective. Here are a few adjustments we need to make moving forward: 1. Shift from quantity of information to depth of research. Spend less time on repetitive content and more time studying project fundamentals, capital flows, and market structure to build your own judgment framework. 2. Shift from chasing new projects to focusing on existing opportunities. Don’t just look at new tokens—pay attention to older projects with ongoing product iterations, revenue growth, and compressed valuations. 3. Shift from studying narratives to studying capital. Listen to fewer stories and focus more on trading volume, token distribution, capital flows, and token unlock schedules to assess real demand and market expectations. 4. Shift from seeking high multiples to prioritizing risk-reward ratios. When opportunities decrease, it’s even more important to raise your selection criteria and focus on valuation, margin of safety, and position management. 5. Shift from following opinions to learning methodologies. Stop focusing on what others are buying and start analyzing why they’re buying, when they’re selling, and how they handle being wrong. 6. Shift from frequent trading to patiently waiting. If there are no suitable opportunities, trade less, spend more time learning, and save your capital for higher-confidence opportunities. In the past, success relied on information asymmetry. In the future, it will depend more on cognitive depth, independent judgment, and trading discipline. The market environment has changed, and our learning and investment methods must evolve with it.