I've written about the TEN project twice already. This time, I'll get straight to the point and keep it brief.

The combination of TEE + Confidential Rollup is quite rare. While achieving privacy on-chain is not unusual, TEN stands out as one of the few that can fully encrypt transaction content and contract states while still running quickly. Additionally, it is compatible with EVM, making migration convenient without the need to modify code, which is a hassle-free option for developers.

The team behind it has some background; they have worked on Corda and developed systems for central banks, not just a randomly assembled group.

So it's not surprising that this event has blown up; the market is indeed looking for projects that "truly focus on privacy and can actually be implemented," rather than just shouting slogans.