The first Chinese coin "Binance Life" is really done for this time. #巨鲸动向
When it launched, it was touted as a domestic highlight, and during those few days of hype, even seasoned investors almost believed there was a real story.
So what happened? Now it's going down all the way, whoever buys in gets buried. COAI has plummeted from its high point to $1.7, with no chance to catch a breath.
Why is this happening? The logic is actually very simple:
First, once the Ponzi scheme logic is exposed, the main players have to run.
The previous surge relied on emotions, not fundamentals. Once the emotions dissipate and faith collapses, who will buy in later?
Those few waves of increases were typical sell-off markets, as the main players shouted consensus while quietly retreating.
Second, the altcoin season is almost coming to an end.
With Bitcoin fluctuating and funds tightening, new investors are not entering the market, and existing funds are starting to consolidate into mainstream coins.
Mainstream coins can still survive on narratives, but once altcoins lose their themes, there’s only one way - down.
Third, newcomers are too seriously bound by emotions.
They chase after others who double their investments and bear losses themselves.
The harshest saying in the crypto world is: "The stories of getting rich are all true, just not yours."
The current market is screening people:
Those without positions are still observing, those fully invested are starting to average down,
while smart people - have long started to clear their positions, waiting for the next wave of themes.
So is "Binance Life" really done for?
I can only say: the main players have left, and the coin is done for.
The story is over, believing it again will truly make you a bag holder.
