Recently, I discussed the state of the primary market with a few friends in the crypto space, and they all complained about Chinese coins losing money badly. My advice to them was straightforward—primary projects are not suitable for long-term holding; you must get in quickly and get out quickly. That is the correct approach.

Why do I say this? The reasoning is actually simple. Information asymmetry in the crypto world equals money disparity. By the time you hear news about a project, it’s often already at the peak of hype. The whales and insiders have long been positioned, and when retail investors catch wind of the news, it’s actually the moment to take the plunge. What follows is a long decline—you might think you’re bottom-fishing, but in reality, the price keeps dropping.

But this doesn’t mean there are no opportunities in the primary market. The key is mindset. View it as a tool for short-term arbitrage rather than value investing. Double your money and exit, take profits when the time is right—that’s how you make money. Some people get trapped, holding onto the mindset of “this is a future project,” and end up buying the dip more and more, ultimately becoming losses.

The core rule of primary investment is one: don’t fall in love, buy quickly and sell quickly. Stick to this principle, and you won’t get caught.