Observations from the Japanese community and discussions with friends in recent days:

The overlap between buyers and project communities is becoming less and less.

Which weights are increasing?

KOL

Communities like Avalanche and Ton in Japan cannot achieve daily active users, while KOL communities are having intense discussions every day.

High-profile token projects are privately looking for buyer communities.

On mobile, products need to be simple and accessible (web3 wallets like Binance and Bitget are experiencing rapid user growth).

Influence of founders.

Which weights are decreasing?

Centralized exchanges (this remains very important, but on-chain prosperity has enhanced liquidity, and users no longer rely on CEX for deep liquidity; recently, insider trading has further lowered this weight).

Task platform traffic pools (Galxe's growth has stagnated).

PC end (short videos and mini-games have made people rely on their phones for satisfaction, and behavioral habits have changed).