Ordinary investors rely on price increases to make profits, while experienced investors can also profit through short selling. However, some exchanges and market manipulators ("dog dealers") focus on constantly introducing new trading products to attract investors. They only seek to maintain market scale without regard for the actual quality of the products.
The common contradiction in the past was between the continuously growing investment demand and the relatively lagging market development level, but now it has shifted to the contradiction between a highly active market with frequent new products and the limited actual funds and demand of investors.
"Dog dealers" continuously extract funds, and when investors hold on to their price expectations, they find that liquidity is diverted due to the constant launch of new trading products.