$SUI In the world of cryptocurrency, the "altcoin season" was once an exhilarating wealth carnival. The ICO boom of 2017 saw countless altcoin projects, claiming to be blockchain-based, spring up like mushrooms after the rain. The fervor of DeFi and NFTs in 2021 pushed the altcoin season to its peak, with many tokens lacking any real value skyrocketing in market cap due to speculative hype, and stories of hundredfold gains were everywhere, attracting a large number of investors to dive in.

However, today, the altcoin season in the cryptocurrency market is no longer glamorous. With tighter market regulations, many worthless coin projects have been exposed, leaving investors with significant losses. Most of the once-hyped altcoins have plummeted in price, some even going to zero. When the tide goes out, you discover who has been swimming naked; the false prosperity of altcoins has been thoroughly punctured, leaving behind a mess, making people deeply aware of the high risks and uncertainties in the cryptocurrency market.