VCs have no confidence and sell as soon as they are unlocked. Retail investors dare not enter the market, and the smart money of institutions will not touch these coins.
People who buy coins such as ZK and ZRO are actually not worthy of sympathy😅. These high-market-value coins are all air L2 and cross-chain protocols piled up by data studios, and the spot trading volume is still so large. Even if ZK falls to $0.1 and ZRO falls to $1, there is no value in buying the bottom because there are no users. Without users, what does VC's high valuation have to do with you? Many projects invested by VCs cannot issue coins, and even bankruptcy is a common thing. Why can VC's cost price become the bottom price?
This view is actually very naive. VC's cost price has nothing to do with the price we buy. The private placement price of ETH is $0.3. Why do you keep buying?
We buy to see the delivery ability and quality of the project itself, or whether it is hyping hot spots. What does it have to do with VC cost?
Now that altcoins are collectively plummeting, the sectors least likely to rebound are L2, DeFi, and second-tier public chains. Because these things are not scarce, and three major L2s, Blast, Scroll, and Linea, will be launched soon. This sector originally had little funds, and now it is the sector that has been hit the hardest. You can almost feel the despair. 😅
Believe me, don't buy L2 at all, whoever buys it will be unlucky. Those who still believe in the L2 leader are waiting for greater losses.
