Last year, the arb airdrop and the popularity of the arb meme created a rebound in the small bull market. Now that a year has passed, can the popularity at that time be reproduced? In fact, the current market has undergone earth-shaking changes compared to that time. The bear market in the currency circle can often filter out most of the people with weak wills, and the remaining active investors are basically firm believers. Therefore, the market at that time actually made people feel that there were still many expectations.

However, this year's market heat is basically not so active. The high FDV makes everyone gradually dislike institutional coins. Various witches and PUAs also make the wool-pulling players leave the market sadly. Anyway, the old irons must have supported the project party to survive the bull market, but everyone did not expect that the project party began to turn their faces and harvest users after the bull market. This method is definitely not sustainable and has also seriously hit market confidence.

Of course, the entry of institutions into ETFs is a positive factor, but this kind of policy cannot support the positive factor. The foundation of the bull market in the cryptocurrency circle is the internal prosperity overflowing to the outside, rather than being initiated from the outside. Therefore, although the price of the currency has reached a new high compared to the bear market, in fact, the real bull market has not yet arrived. It can only be said that it is a warm-up stage before the bull market. Perhaps the main force wants to wash out the floating chips.