The玩法 in the crypto circle has completely changed over the years.

Remember the early bull market cycles, where just grabbing a new coin could multiply your investment several times? Why was that? Simply put, there were too few stories to hype back then, and not many innovative directions. But now the problem is the opposite—there are so many on-chain projects that liquidity is scattered across countless air coins. Even more painful is the unlock mechanism, with a large amount of locked tokens being released into the market daily, making it impossible to resist the downward pressure.

Adding to that, the ecosystem is becoming increasingly crowded, and truly imaginative narratives have been told a thousand times. The era of "just entering the market casually and making money" can only live in memories. Now, to outperform the market, you need to put in real effort and do your homework, which is too difficult for most retail investors.