During that period, I lost around two to three hundred thousand dollars on new trading pairs, and I was wiped out in just a few days. To be honest, my mindset collapsed at that time, and I completely lost interest in these small coins.

I was sitting there, overwhelmed with a mix of anger and helplessness. I didn't want to look at these things anymore. Later, I started reflecting on the entire process—why those newly launched trading pairs were so easily PvP'd, and what the market participants' game theory was. Although this setback was painful, it also gave me new insights into risk management and coin selection.