What everyone often says is, 'There is no more imitation season.'

In fact, whether there is an 'imitation season' or not depends on whether the liquidity in the market is sufficient and whether the blockchain industry has new stories to tell.

At present, it seems that lowering interest rates and increasing liquidity is just a matter of time. What the market lacks is not funds, but a new narrative that can spark imagination. Looking back, concepts like smart contracts, NFTs, and DeFi were all 'new stories' that attracted attention and drove funds into the market.