Sui has increased nearly tenfold since its launch, indeed a model for many VCs. If Binance has strong new coins willing to spend money to pump, there wouldn't be so many people chasing on-chain yields. One must be willing to invest in projects to make more money; who wants to play with high market cap ghost chains now? The crypto space is increasingly lacking consensus, with communities filled with speculators and garbage project teams. Many new coins launch just to cash out, and the secondary market has no wealth effect at all. Who is still willing to take over?