There have always been three types of assets in the cryptocurrency market:
1️⃣ Casino Infrastructure Coins (Value Coins), which serve the entire operation of the Mars casino and generate income;
2️⃣ Narrative Consensus Coins, representing narrative direction/leaders, air coins that have consensus for a certain period;
3️⃣ Junk Coins, produced in bulk every day.
When liquidity comes, casino infrastructure coins see stable income growth, narrative consensus coins experience innovation and wealth effects, and junk coins are produced in bulk/clone coins appear in large numbers;
When liquidity leaves, casino infrastructure coins see stable income decline, narrative consensus coins lose consensus, and the quantity of junk coins decreases, leading to lower market value.
It can only be said that it has always been like this, 99.9% of junk coins have never changed.
It's just that,
When liquidity is present, it's rising junk, it's enjoyable junk;
When liquidity leaves, it's falling junk, it's infuriating junk.