Actually, this is really just some North American project teams or institutions being overly optimistic. Pushing it up isn’t the issue—the real question is whether the project team has the ability to offload their tokens OTC at 30% of the price to a liquid fund that’s willing to take it at scale. If not, then this price is just fake, meaning the market doesn’t recognize this kind of valuation. There was a project very similar to Mon’s current situation before. The liquid fund was willing to take tens of millions of dollars, but only on the condition that it had to be listed on Binance spot trading. In the end, the project had no choice but to use 4% of its tokens and spend tens of millions to force its way onto Binance. Just a few days later, it ran into the 10/11 black swan event and got cut in half. The team and background weren’t much weaker than Mon’s, but they also naively thought they could bypass Binance by listing on CB+UB. The reality is, at this stage, for large market cap projects, there’s no alternative to Binance spot trading.