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On-chain “regret-type transactions” are back again, and the opportunity cost of cashing out early incentives is starting to show.
Wang Chun, co-founder of F2Pool, said that over the past year, he received about 83.7 million SPK rewards from Spark and has already liquidated them on CoWSwap, cumulatively exchanging for 663 ETH and about $1.4 million.
But as the market changes, he candidly says, “I’m kind of regretting it now.”
Behind cases like this, what it actually reveals is a core contradiction that has long existed in the crypto market:
The certainty of realizing returns vs the uncertainty premium of holding assets
In early incentive models, choosing to sell and lock in returns is rational behavior;
but when the asset later performs beyond expectations, the opportunity cost gets amplified.
The real difficulty has never been “how to make money,” but “when to sell.”
Every time you exit early is a way of pricing in future uncertainty.
Follow me to keep breaking down the deep logic behind on-chain behavior and the emotions behind it.