Recently, I've seen new L1/L2 incentives being launched again, and TVL (Total Value Locked) is skyrocketing. Veteran users in the group are complaining, "Mining, selling..." Basically, attention is liquidity. When everyone is chasing hot topics, they are most likely to treat themselves as fuel. My simple method: first, don't look at slogans, focus on two things—whether the on-chain real activity (addresses/interactions) is keeping up, and whether liquidations/large deposits and withdrawals are starting to become more frequent. If TVL has increased but interactions haven't moved, it's basically "migratory deposits," and once the hype fades, they withdraw the same way. Anyway, I now prefer to miss out rather than always be the one to catch the bag at the peak. Forget it.