FRAX has just been listed on the contract, and some friends have expressed bearish views. This market situation indeed warrants caution; there are opportunities to place high-point orders, but you must be prepared to defend—don't think about fighting the trend, as that is basically a dead end.

From the data, the TVL on paper is over 400 million, but honestly, there's a lot of fluff, so this number should be taken with a grain of salt. What's more disheartening is that the staking annualized yield is really too low; normal investors simply won't be interested. Who would want to deposit their money for such a small return? This design itself hints that there might be liquidity issues.

So if you decide to go long this time, you must have strong psychological preparation. It's not that you can't trade, but you should always be ready to cut losses. No one can predict exactly when the market will reverse, but planning your exit strategy in advance is never wrong.