I believe the current crypto market is at a special turning point, with liquidity and narratives almost in a vacuum. Simply put, the market has become extremely unstable, and many are starting to doubt the future of this industry.

Since the $trump token was launched, the entire market has experienced a redistribution of wealth, and various altcoins have seen significant declines. Nevertheless, the on-chain activity remains vibrant, with new tokens emerging every day. From $trump, $vine, to $tst, and now today's $car, it's no longer surprising to see tokens with a market cap exceeding a billion within just half a day. Even founders of tech companies and national presidents have started issuing meme coins, which is no longer considered a novelty.

The threshold for issuing tokens has become extremely low, and there is no longer a need to consider ethical and legal factors. The speed of capital flow in the market is also increasing. People are chasing these short-term profit opportunities, but few stop to reflect on what the original ideals of blockchain were. Those overvalued VC projects often plummet right after launching, and retail investors have lost confidence in the so-called 'long-termism.' The once-cherished 'Holder always win' has become a joke; now, no one considers themselves a 'diamond hand.'

In fact, the birth of blockchain was driven by a group of idealists who hoped to change the world’s financial system. However, the current situation is that many token projects care more about price increases rather than the product itself. Tokens have turned into chips in a casino, and the greed of project parties is quite obvious, while speculators lack patience, leading many idealists to choose to leave.

I personally believe that the current crypto market is like the later stages of the dot-com bubble, with a crazy influx of funds and a proliferation of fraudulent projects. However, we must not forget that after the dot-com bubble, the truly valuable companies eventually gained market recognition. During this narrative void, those projects that continue to build will ultimately be seen. For blockchain to grow, it still requires more idealists to participate. After all, 'daring to dream and innovating boldly' is the biggest advantage of this industry.

This article does not criticize the PvP atmosphere or players on-chain (I believe that casinos have always been a very important application on-chain but should not be the only one). I just want to encourage those investors who feel discouraged by the industry atmosphere—this is the craziest time, and there is no need to doubt oneself for staying clear-headed. When it's time to be crazy, go along with the craziness; if you can't, that's okay, because the chaos that follows the madness is precisely when we can identify truly valuable projects.

Professionals create value; details determine success or failure.

If you currently feel helpless or confused while trading in the crypto space, I hope my sharing can bring you some inspiration and help!

Today's article ends here; welcome to come and play together on the homepage~

Investment carries risks, and the above content is purely personal sharing, not investment advice!