The current problem in the Chinese cryptocurrency market is the lack of new entrants; the market is filled with seasoned investors.
The seasoned investors have been taken advantage of by VCs, their altcoins are stuck, and it seems there is no chance of recovering their investments. Then the seasoned investors realize that memes are purely PVP, and instead of being cut by VCs, they might as well gamble directly, as there is a glimmer of hope to make money. Therefore, currently, all the hot money in the market is almost entirely in memes.
As long as there is no brand new narrative, memes will continue to be popular; rather than being taken advantage of by VCs, it’s better to just gamble.
Willing to bet and accept losses $BTC
