Let's talk about the KOL phenomenon in this circle.

First, we need to understand what KOL originally was—simply put, marketing and targeted fan engagement. But in the crypto world, this has long been distorted.

So what is the true face of so-called KOLs now? It’s mainly these: relying on referral commissions for income, taking on various advertising deals, going to great lengths for traffic, running paid communities, pulling groups for pump-and-dump schemes, or even directly posting fake pumps to scam a wave. This has become an open secret.

Honestly, few people can see through this trick—probably only about 5%. Most still have a dependency mindset, always hoping to be guided by others. The word "rely" itself explains the final outcome.

And what about the "fakeness" of KOLs? Here, "fake" doesn’t mean identity fraud, but superficial hypocrisy. Look at what current KOLs are doing—signal calls, showing off wins, talking about market trends. Behind these appearances lie the real business logic. Without these false promises, where would people's sense of participation come from? Predictions don’t have to be accurate; as long as you dare to say something, someone will believe. Showing off wins is even more outrageous—losing 100 trades but screenshotting and bragging about a single win. As long as you dare to post, there will be people praising you as amazing. Honestly, this exposes human weakness—we tend to believe what we want to believe. There are too many such people in the market, and even more who can’t see the true nature.