The reason there is a wealth effect on the blockchain is that the profits that were originally earned by VCs and exchanges have been redistributed to retail investors on the chain.

In the past, retail investors had no chance to buy into a company valued at $10 million, like ai16z; by the time VCs finished accumulating their positions and it reached the exchange, it had already started at $1 billion.

This has led to a significant wealth effect in the past three years of the 'grabbing rewards' sector, because 'grabbing rewards' helps project teams present data to exchanges. As long as they pass the review, they can enter the exchange and fully extract liquidity. It’s not about how impressive 'grabbing rewards' is, but rather how it has assisted project teams, allowing retail investors to sip a little from the benefits.

The essence of retail investors creating wealth is being able to acquire early-stage cheap tokens. The conditions that still meet this are 'grabbing rewards' and the meme sector, and this will continue in the future. The sectors that allow retail investors to obtain early-stage cheap tokens are the good sectors.