New Year Outlook: The expectation for certain leading public chain ecosystem assets is quite straightforward: being able to consistently outperform BTC within four years is considered a success.

Looking back to when the project was launched with real trading, BTC was still hovering around $63,000. Considering the current net asset value performance, to match its return curve, BTC would need to rise to about $190,000.

Why emphasize the four-year cycle? Because this period is long enough to complete a full bull-bear cycle—from accumulation at the bottom, to release at the top, and then to a new round of shakeout. A complete cycle can more objectively verify the asset's long-term operational capability. The asset has already been running with real trading for some time, and now it remains to be seen how it performs in the next complete cycle.