From market observations, the price movement of Ethereum (ETH) has sparked some interesting thoughts. During the bull run phase, some investors took advantage of the rising premium of ETH to conduct multiple rounds of financing and issuance. The purpose of this strategy is to continue buying in when the Bear Market arrives, using the funds accumulated earlier, until the market premium is completely eliminated, and even to the point of a negative premium.

Theoretically, this approach can continue to buy during market downturns until the premium completely disappears, and new financing cannot be conducted. However, it is worth noting that based on the current market trends, the growth momentum of Bitcoin and Ethereum seems to be leading the traditional stock market for quite a long time.

This sustained strong performance may make it difficult for leading projects in the cryptocurrency market to experience a true collapse. However, investors still need to be cautious, as the high volatility and unpredictability of the cryptocurrency market still exist.

Overall, this market cycle-based financing and investment strategy reflects the unique nature of the cryptocurrency market. It showcases the innovative thinking of market participants while highlighting the potential risks and opportunities in this emerging market. For investors, understanding these market dynamics is crucial, but it is also important to remain vigilant and manage risks appropriately.