There is a lack of new stories to tell in the market now. In the last bull market, concepts such as DeFi, NFT, GameFi, Dao, cross-chain, second layer, and metaverse emerged one after another. If there are stories to tell, it will naturally attract capital speculation. In addition to inscriptions, this bull market has not set off many waves, and even AI is just a wave.

Without hot spots, the currency circle began to hype pure air coins such as meme, which shows how lacking concepts this bull market is.

Although there are not many concepts in this bull market, the number of new coins has not decreased. In the previous bull market, there were more funds and fewer coins, and this round of bull market had less funds and more coins.

Many coins were valued at hundreds of millions or billions of dollars when they were first listed on the exchange, and they are still being unlocked. So many coins are constantly thrown out, and there is not so much capital, and retail investors can't take it, so the decline has become inevitable.