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📊 I. Latest Overall Market Interpretation

📉 Overall Market Trend
🔹 In the last 24 hours, the global cryptocurrency market is under pressure, with a slight decline in total market capitalization, approximately down by ~1–2%. Trading volume remains at an active level. According to market data reports, total market capitalization fluctuates around the range of 3.8 – 3.9 trillion USD.
🔹 **Bitcoin (BTC) and Ethereum (ETH)** prices have shown little fluctuation, but are currently in a consolidation phase. Bitcoin briefly fell below key whole number levels, followed by a slight rebound.

📌 Key Insights:
• BTC and ETH price range consolidation: short-term fluctuations are somewhat volatile, lacking clear breakthrough momentum, and may continue to oscillate within the range;

To be honest, talking about the Plasma ecosystem now easily leads to a state of 'I understand the reasoning, but I just can't get into it.' Its price has truly fallen into the abyss, although there is actually nothing wrong with the technical logic. The security and scaling ideas are quite orthodox, and even on the design level, it is somewhat conservative and stable. But the problem is that these advantages feel too weak to ordinary retail investors if the price keeps plummeting. $XPL
Let's start with the user experience. The learning curve of Plasma is not low, and many concepts deter people right from the start. For most users, the core needs of using a chain are very simple: easy to use, smooth, and not too complicated. However, Plasma does the opposite; understanding the mechanism takes more time than the actual operation. Retail investors do not disrespect technology; they simply lack the patience to study 'how to use it' as a subject. #plasma

To be honest, as an ordinary retail investor, being able to hold onto VANRY at this point already shows a change in mentality. When I first joined, I was still driven by expectations and imagination, thinking the direction was new, and there were stories to tell, perhaps I could endure and get some returns. But when the market turns, I realized that what retail investors truly face is not opportunity, but a long period of consumption.$VANRY
Projects like VANRY, which are more ecological and construction-oriented, are actually not friendly to retail investors. Price feedback is slow, information is not dense, and when market sentiment cools, it can easily be overlooked. Watching my account fluctuate red and green every day, yet still waiting for a clear direction, it's inevitable to feel shaken and doubt whether I've chosen the most 'difficult' path again.#vanar

To be honest, still paying attention to the Plasma ecosystem feels a bit like going against the market. Does it have technology? Yes, and it sounds quite advanced, with security, scalability, and the main chain backing it up, all neatly packaged. But the problem is that these things are too far removed from ordinary retail investors. Most people come in not to study the architecture but to use it simply and play around. As a result, Plasma comes along and presents a bunch of complex mechanisms, directly driving people away.
The ecosystem is really cold. Other Layer2s have new applications, new narratives, and new activities every day, while Plasma feels like it's in slow motion; when you look around, there aren't many useful things. Even if there are designs like gas-free that are friendly to retail investors, it's still 'not useful even if it's free', and the experience remains fragmented. No matter how good the technology is, if no one uses it, it ultimately just stays in the PPT.

To say something very realistic, as a retail investor still paying attention to VANRY, it's no longer because I'm not afraid of being trapped, but because I'm trying to see if the project is worth giving a little more time. The ups and downs of the market have long since worn away emotions; I’m not excited when it rises, nor surprised when it falls. Instead, I'm more concerned about whether the project is still making progress. For retail investors, prices change every day, and only the ecosystem can determine whether a project can still survive.$VANRY
I've also seen various analyses and narratives, and I feel the direction is quite new, at least not something that's obviously hype. But it wasn't until I actually participated that I realized ecosystem construction is the least suitable rhythm for retail investors. Slow, quiet, no one calling out trades, and the price has no long-term feedback, which easily makes one doubt whether they've chosen the wrong path again.#vanar

To be honest, as a retail investor who has been repeatedly educated by the market, the fact that I can still hold onto VANRY speaks volumes. It’s not that I am particularly determined, nor is it that I can see far ahead, but having come this far, I care more about whether the project is actually 'working.' The price has long since eroded people's expectations; seeing too much will only affect my mindset $VANRY
When I just bought VANRY, my mindset was the same as most retail investors, thinking the direction was good, the narrative was new, and believing that with some time, the market would eventually recognize it. However, when I truly held it in my hands, I realized that the most challenging phase for an ecological project is precisely the phase that is least friendly to retail investors. The price is stagnant, news is scarce, and every day tests my patience #vanar

To be honest, as a retail investor holding onto VANRY, I have rarely fantasized about a surge now. When I first entered, who wasn't attracted by the prospects and stories, thinking they might have made the right choice. But when the market moves, one realizes that it won't give retail investors any buffer; you may not be on the bus when it rises, but you'll definitely be running alongside when it falls.$VANRY
The most tormenting thing isn't the big drops, but the long periods of stagnation. Every day I take a glance at my account, with red and green switching back and forth, my emotions jumping around. Many times I've thought about whether to simply switch to a more 'lively' asset, at least it would have some presence. But when it actually comes time to sell, I ask myself: Am I leaving just at the moment when patience is at its lowest?#plasma

For many retail investors, determining whether an ecological value is worth long-term attention is actually not that complicated. It’s not about how fancy the white paper is, nor how new the technical terms are; it’s about asking one question: does it hurt to use it? In this regard, Plasma's 'gas-free' design truly considers the user's perspective.$XPL
These years, I've been scared by the gas fees. When the market is good, a transaction fee can still comfort oneself with 'it's worth it for the profit'; when the market is poor, every time you confirm feels like cutting deeper into your losses. Many so-called public chains and scaling solutions can sound dazzling in technical terms, but ordinary users are afraid to click multiple times. Plasma chooses to solve the gas issue upfront, which essentially lowers the psychological barrier, rather than making users pay for a complex mechanism.#plasma

As an ordinary retail investor, now holding VANRY, my mindset has shifted from anticipation to 'just hoping nothing goes wrong'. The ups and downs of the market have already worn me down; when it rises, I dare not think too much, and when it falls, I am reluctant to cut my losses. I repeatedly tell myself to look at the market less, yet I still can't help but check it. Retail investors in the market are like this, led by emotions but unable to escape.
What truly allows me to continue holding is not the price, nor the short-term benefits, but the fact that the VANRY ecosystem is still progressing. At least I can see that the project hasn't stopped, development is still ongoing, and there is still activity within the ecosystem, rather than disappearing after a drop or going silent after a lull. For retail investors, this signal of 'the project is still alive' is more important than any calls or slogans.

As an ordinary retail investor, the choice of whether to use a chain often doesn't depend on how advanced its technology is, but rather on whether the usage feels painful. In this regard, the 'gas-free' direction in the Plasma ecosystem truly hits the user's pain point. Not everyone is willing to calculate transaction fees for a bit of operation and then grapple with whether to click confirm. Gas-free transactions do not address high-end issues but rather the most fundamental barriers to usage.#Plasma
Many people underestimate the significance of gas-free transactions. In a bull market, everyone tolerates slightly higher fees since there are price increases to cushion the blow; however, in a downturn, every gas fee feels like another cut into losses. Plasma prioritizes cost considerations, fundamentally thinking from the user's perspective rather than indulging in a 'chain-centric' viewpoint. This design may not seem stimulating in the short term, but it has strong long-term stickiness.$XPL

To be honest, at this stage I am still looking at the Plasma ecosystem, which itself is quite out of place. The market is chasing new concepts and narratives every day, wherever it is hot, it squeezes in there, while Plasma has always felt very 'cold'. There is no overwhelming marketing, nor an emotionally charged market performance, and many people have not mentioned it for a long time. But it is precisely at this time that I have become a bit more patient with it.$XPL
The biggest characteristic of Plasma is that it never intended to please the market from the very beginning. It addresses the most difficult and often overlooked part of scalability—security. The assets can ultimately return to the main chain, and in extreme cases, users can still save themselves. These designs may not show their value when the market is good, but once the market fluctuates wildly or a certain system encounters problems, we realize how important this conservative approach is. It may not be the most enjoyable solution for you, but it is the one that provides you with the most peace of mind.#plasma