Capital never stagnates—it constantly flows between exchanges, DeFi protocols, and emerging assets. Those who are the earliest to recognize the trend often secure the best positions.

I still vividly remember the DeFi boom of 2020. Within days of a liquidity mining project launching, simply providing some funds could earn astronomical token rewards. Some people around me doubled their investment in just a month. By 2023, during the craze for inscriptions, early participants used a few thousand yuan to leverage hundredfold returns, as if every project was dropping pies from the sky.

But the reality is—when you hear these stories and want to follow along, the game has already changed. Interaction costs have increased several times, and the operation process has become incredibly complex, requiring dedicated research to get started. After investing in dozens of projects, deducting gas fees and learning costs, whether you can break even is uncertain.

Market dividends are like words written on the sand—when a wave comes, everything is gone.

**Why do opportunities always slip through our fingers?**

Looking at the data makes it clear: every wave of wealth explosion follows the same pattern:

In 2012, the first batch of Bitcoin miners, even after paying electricity costs, had ten thousand times more surplus; during the 2017 ICO frenzy, early project teams and investors reaped huge profits; in the DeFi mining era of 2020, some liquidity pools once offered annualized yields of several thousand percent, but such madness only lasted a few days; in 2023, with the rise of inscriptions, those who jumped early easily gained hundredfold profits, while those who lagged behind faced liquidation.

By the time most retail investors hear the news, organize funds, and prepare to enter, the golden era has already passed. What remains are the remaining assets after cleansing and increasingly high entry barriers. This isn’t about who is smarter. The dividend period itself has a lifecycle—when an opportunity shifts from a secret for a few to a popular topic, from a "trend" to a "competition field," the logic of making money is completely reversed.