Over the past decade, the crypto market has gradually moved from the wilderness to the mainstream. In essence, everyone has enjoyed a lot of dividends from the industry's super-fast growth.
Those who have experienced the two major cycles of 1617 and 2021 may feel it particularly deeply. That was a real bull market, with big pie soaring and small coins rising to the sky. It does not test your ability to choose coins. As long as you can hold on to them with diamond hands, you can get rich returns in the end.
At present, the market is so bleak that everyone has gone from scolding VC coins to scolding exchanges for new listings to scolding Ethereum and recently starting to scold Sol.
On the one hand, these projects themselves do have problems. On the other hand, the entire industry has actually entered a serious bottleneck period: there is little deep value innovation, repeated reinvention is common, primary valuations are inflated, and there is a lack of public consensus.
On the other hand, everyone is tired and tired of narratives without value (and narratives without foundation).
However, the market surge last week and the cycle before last left such a deep impression on everyone that at the beginning of this cycle, most people still held on to their previous ideas to invest and trade, hoping to get ten or a hundred times the return. Now this expectation has been shattered.
