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Someone has conducted a benchmarking analysis of MACHI and WHITEWHALE. Looking at the data, MACHI currently has a market cap of only 80k — this size is indeed very small. Meanwhile, other comparable projects have already reached the million-level mark. This difference is quite interesting and, to some extent, reflects the varying levels of market recognition for different projects. The vastly different valuations of early-stage projects and the underlying logic behind them are worth players' own contemplation.