jakiro
Author: Haotian; Source: X, @tmel0211
After fighting hard for several days, I preached on the x402 track. After getting up and focusing for one day, the sky fell!Okay, just in time to avoid vomiting:
1) The market has undoubtedly been a bear market for a long time, since TRUMP, market liquidity has been almost drained, and everything that followed was an emotional bull;
2) Altcoins have been fully in debt since the TGE date, there is no more Holder who insisted on his faith in the past, no more Contributors who are dedicated to contribution, the proliferation of airdrop hunters, VCs eager to launch, CEX draws their swords, and project parties who have invested many years to make a profit,If everyone wants to quit, who will be the leek?
3) MEME was once regarded as the salvation of the copycat market, its mission has been achieved and it has become an alternative for retail investors to fight against high FDV VC coins. However, MEME’s zero technical threshold, fair startup illusion and other assembly-line batch replication cannot become a long-term value capture channel.It turns out thatWithout the complementary narrative of the main line of technological innovation from 0 to 1 with VC coins, the light and heat of MEME is just a consumption of PVP’s stock, which will eventually lead to systemic erosion of the industry.;
4) CEX has always been responsible for the overflow of innovation on the chain and the amplification of liquidity..But with the emergence of Pumpfun, GMGN, and Hyperliquid-style innovations and wealth creation effects, exchanges felt the crisis and launched the “internalization” project to save themselves.The result is obvious,When the shovel seller starts making gold, the significance of the existence of the entire gold mining track is weakened.;
5) The dark moment of purgatory for the project builders has come.Why are so many projects lined up for TGE? Why has the market lost the patience to polish products? Why are the project parties and VCs responsible for the structural imbalance of the market?It’s too complicated and no one can answer this question, but it is an indisputable fact that builders and VCs in the currency circle went bankrupt and outflowed.What’s more terrifying than liquidating positions to zero is that the industry has been drained of wages and people are leaving the building empty..
Forget it, writing too much becomes a complaint again.
But this is the fundamental reason why I have been calling for on-chain innovation. Our Crypto industry has long lost its former glory. It is sick, old, and even terminally ill.
Only by starting from scratch and opening up the main narrative line on the chain driven by technological innovation can everything be reorganized..
