From 2017 to 2020, cryptocurrency was still in the phase of moving towards the mainstream, with market fluctuations between lows and skepticism.

At that time, there was no shortage of incremental funds in the crypto space. Once prices rose, they attracted new participants, creating a strong speculative atmosphere in the market. Although opportunities were present, the risk of losses was also high.

Now, cryptocurrency has entered the mainstream view, with a large user base and a significant increase in societal recognition of practitioners in the field.

Institutional funds continue to flow in, but drawbacks are becoming apparent: the crypto space is shifting from an incremental market to a stock market, with a sharp decline in the number of new entrants. The peak of recent market activity may have been during Trump's administration.

To attract more participants in the future, the crypto space needs to focus on two areas: first, expanding payment scenarios to change the payment habits of non-investors;

second, promoting official recognition of crypto assets, such as by incorporating them into national strategic reserves, emulating gold to establish a benchmark value position.

In this trend, “junk coins” lacking fundamental support will no longer have a place to survive.