Back in the day when I was active in the stock market, I heard an old investor say something that I still remember very clearly: "The most intense rallies often happen when even the market grandmas start talking about codes. When everyone thinks they can make money just by buying blindly, that's when you should be alert."

After years of navigating the market, I’ve noticed an interesting phenomenon—although A-shares and the crypto world seem vastly different, the logic behind making money is actually the same: playing with expectations and stirring emotions. When a new theme emerges in A-shares, the crypto circle comes up with a new narrative. In essence, they’re both just "telling stories" to the market.

But these stories also vary in quality. I categorize them into three types. Understanding this classification can help you be one step ahead of most people.

**Type 1: Opportunities Brought by New Concepts**

This is the type I find most fascinating. It corresponds to entirely new technological breakthroughs or conceptual innovations, such as the earlier integration of AI with cryptocurrencies, the rise of decentralized prediction markets, and now RWA (Real-World Asset Tokenization), which also falls into this category.

The characteristics of these projects are quite obvious—they have no historical reference points or precedents, allowing for full imagination. Initially, some will criticize them as scams, while others hype them as the next big trend. Neither side can convince the other. But it’s precisely within these huge cognitive disagreements that opportunities lurk. Because there are no precedents, the price can theoretically rise anywhere. As long as the story hasn’t been disproved, capital dares to keep pouring in.

Looking at prediction markets like Polymarket makes this clear—initially, many people couldn’t understand what this was. Now, trading volume has exploded, with even major exchanges pouring billions of dollars into it. The key is to see through what it truly solves, even when everyone is still skeptical or even generally bearish.