It is said that Bonk is very cheap, but as soon as the news of Pump's public offering came out, Bonk was immediately affected and dropped significantly. The market has given its answer through its actions.

Platform tokens generally belong to the category of large-cap altcoins, and whether they can rise in value ultimately depends on two points:

1. How is the macro market performing? Has BTCDOM decreased? Is there capital flowing into altcoins?

2. Is the on-chain activity sufficiently prosperous? Only with enough prosperity can there be rewards.

In my view, whether or not it is a leader is secondary. The overall on-chain ecosystem is gradually shrinking in scale based on objective data, and the relationship between several Launchpads is like a situation where if one falls, the others are also in danger.

Referring to the situation after Blur issued its tokens, there was a small bottom in the NFT market before the token issuance, and after the issuance, the performance of the tokens was surprisingly good, leading to the timely launch of the second season. After the NFT market had a dead cat bounce, it entered a dark age.