I’ve talked with many brothers, and basically everyone is at a loss, none are profitable. Spot trading generally loses 3-8 times, and HeYue is also losing beyond recognition.

This market is more difficult to play than any previous bull cycle, and there is no crazy bull market rhythm and trend anymore. The counterfeit coins flooded the market back in 2021.

Market liquidity has been drained too much by meme coins. Although memes have made many people wealthy, compared to those who entered later to buy in, the retail investors who got some results seem insignificant.

Qiuzi has looked at many meme coins. Their market caps are generally high. Without any real application or ecological development, does it really meet market expectations for such high rises? Celebrity endorsements and KOLs driving in to grab J, but in the end, it’s always retail investors who take over, leaving a mess behind.

Looking at projects with real applications and ecological development, their performance after launch is not satisfactory. The initial investment was already large, so launching was definitely to exchange for some chips to act as market makers or to recover the early investment.

However, retail investors don’t seem to buy it. There are many reasons for this. The project teams don’t want to invest too much in lifting prices, continuously selling to exchange chips. Retail investors can’t make U, afraid of buying in high and getting stuck with the bag. These reasons have led to the current market stagnation.

I used to like memes because they moved emotions, plus retail investors had good opportunities. But on the other hand, think about it — after so many memes and so much liquidity drained, it wasn’t reinvested back into the market but disappeared somewhere else. Over time, more established coins face the risk of delisting due to low trading volume...