Recently, a bunch of altcoins have plummeted, not because no one is using them, but because new coins have suddenly flooded the market.
Aptos unlocked 25 million coins, and the price was halved directly; Fantom secretly issued an additional 300 million coins, causing the community to explode, and the coin price followed suit.
What you bought is not the "future," but continuously diluted equity.
Axie Infinity's price dropped by 99%, but its market value only decreased by 90%—that extra 9% is an illusion propped up by doubled circulation.
It's like you invested in a company, and the boss secretly prints new shares for employees every year; your shares become increasingly worthless, and you can't even ask.
Now, smart people are not looking at prices anymore; they are looking at lock-up rates, looking at unlock schedules; whoever is transparent is reliable.
Regulators have also started to focus on this kind of "invisible harvesting".
Don't be fooled by the "explosive growth" anymore; the real question to ask is: who is quietly printing these coins?
