Is something big about to happen in the fully homomorphic encryption (FHE) sector? A leading FHE project is about to launch its token, and the timing is quite intriguing. Fully homomorphic encryption technology allows computations to be performed directly on encrypted data, which is indeed a strong demand for privacy protection. Right now, all kinds of capital are eyeing this track, and once the leading project's token starts circulating, it's likely to spark another wave of hype. But then again, no matter how hardcore the technology is, it still depends on whether the market buys into it. We'll have to wait and see how it performs.