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Yuvi.
$AVAX 子网和应用扩张是否形成了可持续的网络需求？项目数量不是终点，关键是活跃用户、费用与代币使用是否持续，而补贴带来的短期数据容易失真。宏观风险偏好若收缩，资金会先撤出高波动公链。若活动增长同时带来净费用和留存，观点可转积极；若激励结束后流量回落，就不该把热度当基本面。
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