The rhythm of making money in the crypto circle has indeed changed during that period. The opportunity for huge profits is now hard to replicate, which has become a market consensus. Why? The story itself is difficult to surpass, and changes in the scale of funds are even more decisive factors—those massive funds have already accumulated in the previous cycle. Now, their strategies are completely different. Ten-figure capital is no longer used to chase small coins, but instead invested in financial products and stock markets for long-term asset allocation and retirement planning. Retail investors trying to repeat the wealth explosion of that time are almost impossible. Market participants are upgrading, strategies are iterating, and what remains mainly are small and medium-sized capital seeking opportunities amid volatility. The golden age of the crypto world has passed; it is now more about stockpile battles and structural differentiation.