Recently, liquidity on the BSC chain has indeed been receding significantly, and this wave of market decline is happening much faster than in previous rounds. The most striking thing is that almost no projects have reached the contract stage; at most, they just reached the Alpha stage.

Just look at the data. The once-highest trading volume reached 40M, but now it has shrunk to 14M. Most other tokens are struggling to stay afloat below 10M, and those above 5M are few and far between. Even long-standing community tokens like HakiMi, with a trading volume of only 40M, couldn't hold on to the contract stage and are gradually cooling off.

The trading volume on the chain has become noticeably harder to achieve than a few days ago, with overall difficulty increasing significantly. Each cycle on BSC changes, yet it seems like every cycle repeats the same pattern.