At the beginning of the New Year, major trading platforms are accelerating their listing pace, which can be clearly seen from the official announcements of the exchanges. However, upon closer inspection of market depth and trading volume, you will find that overall liquidity has not yet fully returned to an ideal state.

The beginning of the year usually follows this pattern—institutions gradually return after the holidays, and retail participation is slowly recovering. Although new tokens continue to flood onto various platforms, the activity of trading pairs remains uneven. Some tokens have good momentum on their first day of listing, but then fall into silence.

It seems we need to wait a little longer for liquidity to truly pick up. The market is brewing, so let's continue to observe.