$RIVER has recently experienced a fierce decline, approaching the $2 level, with a drop of nearly 95% from its peak. In terms of a fully diluted market cap of hundreds of billions, this scale is comparable to many small and mid-cap listed companies in the A-share market. However, such purely conceptual projects of this size often face inevitable adjustments in the end.

The next key point to monitor is unlocking risk—the token release cycle, which still has over a week remaining, is about to begin, potentially leading to continued selling pressure. From a technical perspective, recent signals indicate a loosening in transaction fee rates, which may suggest the gradual establishment of a bottom area.

If a bottom pattern is confirmed later, it may be prudent to establish a small position as a trial, then gradually increase the position based on the pace of fee rate changes. The key is to monitor the trading activity during the unlocking period and whether the fee rates can continue to weaken—these two indicators will directly determine the possibility of a subsequent rebound.