#比特币价格走势# Looking back at the Bitcoin bull run 20 years ago, we, the older generation of investors, witnessed its astonishing rise from under 1 dollar to nearly 20,000 dollars. Now, seeing the valuation of Bitcoin DeFi protocols like Lombard reach 450 million dollars, one can't help but feel that the market is once again standing at a new turning point.

This public offering of $6,750,000, accounting for 1.5% of the total supply, demonstrates the team's confidence in the future. The investment range from $50 to $5,000 also provides an opportunity for ordinary investors to participate. Looking back, every bull run has been led by new innovations, and DeFi is clearly becoming the protagonist of this round.

However, high valuations also mean high risks. I have witnessed too many projects fall from their peaks. It is advisable for newcomers to participate cautiously, and veterans should also manage their positions. After all, the market is always cyclical, and there are very few projects that can truly survive through the cycles.

Regardless, the continuous expansion of the Bitcoin ecosystem is a good thing. I hope Lombard can bring substantial innovation to the industry, rather than just a flash-in-the-pan hype concept. Let's wait and see if history will repeat itself and what new surprises will emerge.