Regarding the project's expectations for Alpha, it should be judged based on the market cap stage.

Early projects with a market cap still below 5M are usually good signals when they get listed on Alpha. At this stage, the small size and exposure to traffic can itself drive the price.

Conversely, projects with a market cap already exceeding 5M should be cautious. Reaching Alpha at this stage may not be a good sign. Think about it, if the market cap is already so high and they haven't reached Alpha, it actually indicates potential for growth. Once they do, large investors' cash-out reactions are often much faster than retail investors. They've been waiting for this window — the time of highest public exposure is actually when they most want to sell.

So don't be fooled by the listing news. Only by looking at the market cap size can you determine whether this is truly a good opportunity or a trap.