Recently, that bullish belt hold of XPL is indeed eye-catching, and many people are starting to ask if they can enter a position.

Don't rush in just yet; FOMO can easily lead to someone taking the bag. I've been tracking Plasma for quite a while, so here are some cold hard facts. Take your time to decide after reading them.

Looking at the K-line over the entire cycle, you will find that the current wave of increase is still far from the historical high of 2021 by a long shot. That was truly crazy, but what happened afterwards, those who have experienced it understand. This rebound from the deep pit, is it a true reversal or are the old funds trying to escape? No one can say for sure.

Let’s talk about the fundamentals. For DeFi aggregators, TVL is the lifeblood—it represents how much real money is circulating within the ecosystem. Check out the data on Plasma from DeFiLlama, and the numbers aren’t pretty at all. Without continuous user and capital influx, even if the token price rises, it’s just a house of cards that can be blown away with a gust of wind.

Shouting orders can heat up the market, but it can't change the business data. Market sentiment can push prices up for a while, but in the long run, it still relies on solid ecological support.

So don't just focus on the price increase, pay more attention to on-chain data and project progress. The crypto world has no guaranteed profits, especially for assets that are rising from the bottom; the risks and opportunities are equally significant.