佛文BTC
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This decline is actually more a result of the global market linkage.
The US stock market and the Nikkei market have both fallen significantly,
while the decline of mainstream coins in the crypto space is still within a normal fluctuation range.
(Compared to extreme moments like 3·12 and 5·19, mainstream coins are actually much milder.)
What is truly exaggerated are various new projects and non-mainstream altcoins.
Throughout this round, my logic has been:
There will no longer be a true "altcoin season".
The logic is very simple:
There are more and more coins, and the projects are becoming increasingly diverse,
The prosperity built on inflated market capitalizations is ultimately difficult to sustain.
It is almost impossible to have another round of universal tenfold or hundredfold increases.
Where does the money in the market come from?
Even market-making funds are not infinite.
Once liquidity cannot be supported, it is easy to form a chain reaction.
Many current on-chain projects have only a few million or tens of millions in their liquidity pools,
yet they support market capitalizations of over a hundred million or even several billion.
This kind of structure, including secondary market-making,
is inherently very fragile; a gust of wind could cause it to collapse.
#加密市场回调 $BTC
{future}(BTCUSDT)
$ETH
{future}(ETHUSDT)
$BNB
{future}(BNBUSDT)
The US stock market and the Nikkei market have both fallen significantly,
while the decline of mainstream coins in the crypto space is still within a normal fluctuation range.
(Compared to extreme moments like 3·12 and 5·19, mainstream coins are actually much milder.)
What is truly exaggerated are various new projects and non-mainstream altcoins.
Throughout this round, my logic has been:
There will no longer be a true "altcoin season".
The logic is very simple:
There are more and more coins, and the projects are becoming increasingly diverse,
The prosperity built on inflated market capitalizations is ultimately difficult to sustain.
It is almost impossible to have another round of universal tenfold or hundredfold increases.
Where does the money in the market come from?
Even market-making funds are not infinite.
Once liquidity cannot be supported, it is easy to form a chain reaction.
Many current on-chain projects have only a few million or tens of millions in their liquidity pools,
yet they support market capitalizations of over a hundred million or even several billion.
This kind of structure, including secondary market-making,
is inherently very fragile; a gust of wind could cause it to collapse.
#加密市场回调 $BTC
{future}(BTCUSDT)
$ETH
{future}(ETHUSDT)
$BNB
{future}(BNBUSDT)
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