Many people feel that altcoins have no progress and keep saying "lack of funds, no liquidity", but they are actually missing the point.
The real key is: the market has changed, and investors are more astute. Who would still be fooled by just any story? People are much more rational and cautious than before; old tricks no longer work. On the surface, it appears to be a lack of liquidity, but digging deeper, two fundamental issues are fatal:
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First, there is no innovation.
In the past two years, the vast majority of small coins have no new developments or practical value, relying solely on "narratives" to hold the stage. The era where one could hype things up with just talk, like in 2017 and 2021, has long passed! Without any substantial value backing, who would be willing to invest real money?
Second, the valuations are absurdly inflated. Starting from 2021, VCs crazily raised prices, and the primary market inflated the bubble to the sky; once listed on exchanges, they had market valuations in the tens of billions of dollars. Ordinary people entering the market directly become bag holders—who can withstand that?
More importantly, the market is becoming increasingly mature, and the funds are getting "smarter". Just like in the US stock market, the top 10% of projects take 90% of the funding, while the remaining 90% of small coins are left to gather dust. The crypto space is the same now; mainstream coins attract more capital, while small coins are largely ignored.
Even project teams have become smarter:
They no longer pump and hype, because they know full well—once they pump, someone will dump. Not only do they fail to attract "belief", but they also risk getting stuck themselves. As a result, many altcoins plummet as soon as they launch, without even a semblance of a hype cycle.
So now, if you want to make money with altcoins, you need to change your mindset: don’t be greedy for the long-term; look for short-term explosive opportunities—take the profit and run, know when to take it, and don’t get attached; your judgment must be accurate, and your actions quick! If you're even slightly slow, you won’t even get a sip of the soup; the pace is just that fast now. By the time the next easing cycle comes around, the environment may improve a bit, but the competition will only get fiercer. You need to understand the logic, understand the narrative, and hit the right rhythm; random buying will definitely lead to losses. If you really want to gamble on air coins, then go play memes in the primary market—but make it clear in advance that this is essentially gambling, so don’t get carried away. In summary, playing with altcoins now is no longer the era of "buying with closed eyes and waiting for the price to rise".