#代币化趋势 After reading the tokenization discussion at Solana Breakpoint, I have a different perspective I’d like to share.

Previously, when copying trades, I noticed many people were dazzled by the concept of "tokenization"—thinking that simply putting assets on the chain would generate profits. As a result, they rushed in following certain star traders and ended up getting cut. The core issue is: **The value realization of tokenization depends on liquidity depth and genuine trading demand, not the concept itself**.

I understand the logic on Solana’s side—Paxos applying for a clearing license, Bhutan’s gold token TER, Galaxy tokenizing stocks—all point in the same direction: traditional assets are seeking a real on-chain pathway. But here’s a key detail: **Institutional players like Galaxy and Paxos are the true main drivers of this wave**.

From a copy-trading perspective, my advice is to stay calm and observe. The long-term opportunity for the tokenization track is real, but in the short term, don’t be fooled by various conceptual projects. Instead of chasing aggressive risk-takers, focus on those who are laying out traditional asset tokenization with institutional backing—these usually have higher win rates and more controllable drawdowns.

Remember one thing: **The most profitable are often not the fastest, but those who can survive until the next cycle**.