When observing the performance of Linea and zkSync, there's an interesting detail—if these two Layer 2 projects had completed their token unlock and上线 half a year earlier or even earlier, they might not be facing the current market difficulties.

Ultimately, the delay of TGE is not good news for most crypto projects. Here, we need to discuss the situation case by case. When a project is still in the early stages of the race, pushing back the timeline has little impact; the ecosystem is still in the nurturing phase, and the time cost is relatively controllable. But the problem arises—when a project has already entered the later stages of the race, and a bunch of similar competing products emerge in the market, each month's delay could cause you to lose your first-mover advantage.

In this competitive environment, the timing difference of TGE becomes a decisive factor. Launching early means more liquidity, stronger market presence, and earlier community locking. Delays could allow latecomers to overtake and split the market share. For projects in fierce competition, the risk factor is significantly higher.