The leading project in the oracle track was once considered the "certainty premium"—the hub connecting on-chain and off-chain data, embraced by institutions, accumulated by major players, and regarded as the cornerstone of DeFi. When discussing ecological prosperity, it’s hard to avoid mentioning its name.

But in this cycle, the wind has shifted.

To be honest, the news isn’t bad. Over the past month, major players have quietly been accumulating, with single transactions approaching the tens of millions of dollars. The new narrative of "real-world assets," combined with the capital support from derivatives ETFs, has occasionally driven a price rebound. Fundamentally, ecological collaborations are also progressing, and the project itself remains active.

But here’s the problem—price movement is soft.

Compared to other leading tokens and hot coins, this once-market darling seems out of place. It’s not a decline, but a heavy feeling—as if something is pressing down on it, remembered but unable to rise. The technical charts also confirm this dilemma: MACD intermittently flashes buy signals, showing some short-term warmth; but the medium- and long-term moving averages are always pressing down, blocking it from above. The sharp momentum that once led the market and the sector? It’s long gone.

It’s still operational, but amid the market’s turbulence, this "steady iteration" feels too quiet. So quiet that it’s almost forgotten.

This brings us back to the core question: when buying it now, are we paying for a technology that, while indeed useful, may have already reached its growth ceiling? Or are we betting on something else?