Recently, many people have criticized Binance for its high valuation of new projects. After the launch, the new and old copycats fell together. In fact, you think the price of new coins is high, but don’t the prices of old copycats are high? I think they are still very high.

Most of the value coins in this round of old coins come from the DeFi boom in 2020-21. At that time, I couldn’t understand why a governance token, which has no application on the screen except voting, has a market value of hundreds of millions or billions of dollars? For example, UNI, the project party issued it as a commemorative coin, but it was played by the market as a value coin. What is the value? Because there have been people trading at high prices, forming a valuable impression in the minds of investors, is it really valuable? In the end, we still have to return to rationality. Such tokens are no longer a minority.