A market observation checklist has been compiled, gathering the viewpoints and trends of active traders recently. Reviewing the activities of these top traders over the past two days reveals that although the market has been cold in the short term, new trading logic is brewing in the shadows.

The most obvious change is the reshuffling of sentiment. Previously, community enthusiasm for new tokens was continuously rising, but in recent weeks, this heat has cooled rapidly, and many investors are beginning to feel frustrated. The previous "win or lose" PVP-style competitive anxiety is fading, replaced by a more calm and observant attitude. This shift in mindset is increasingly mentioned in community discussions — from chasing new tokens to examining fundamentals, as investors' decision-making frameworks are being recalibrated.