2018-19 You could buy new coins on Binance with your eyes closed, because they generally had a large TGE and high VC unlocks. They were hitting a comfortable valuation in the early stages of a bull market. $SOL $NEAR $POL

In 2022-23, perhaps less than 20% of high cliff new projects can manage market value well. For example, SUI

In 2024-25, none of the 62 new projects could manage market value well, with 3% being the maximum. Most are like summer water🛝, where the project team airdrops mice and then starts cashing out with "ecological" coins. VCs can only watch the excitement; by the time they release, the project has already cashed out close to cost. Even those that managed their market value a little in the early stages will experience severe drops from high positions like $layer $wct.

If the project quality and standards are not good, don’t force new ones on the market #大而美法案