Is the cryptocurrency market becoming A-shares or is liquidity drying up?

Web3 is also web2

Cryptocurrency speculation is like the real estate market

At the beginning of the real estate market, there were more rigid demands, fewer buildings, and prices rose, and housing prices became financialized.

Today, there are fewer rigid demands, more buildings, and prices fell.

At the beginning of the cryptocurrency market, there were fewer currencies, more users, and the price of currencies rose.

Today, there are more currencies, but the number of users has not increased exponentially.

In this bull market, making money is harder than before. $BTC $SOL