Summarizing the KOLs' Hong Kong essays:

The industry is really screwed

"No one will take over" is the biggest consensus

No one mentions the blockchain/Web3 revolution anymore

After all, it has been revolutionized twice, except for attracting a wave of newbies who don't know the truth to take over

There has been no real progress

Now it has become a pure "live broadcast with coins" site and a traffic monetization tool

The president knows that "people are stupid and have a lot of money", so he comes to harvest

Not to mention the Internet celebrities and beauties who are always keen on money

In addition, in the short term

CEX Secondary altcoins may still have a wave of liquidity market with the return of meme. The main reason is that Milei’s eating is too ugly and the impact is too bad. The wealth-creating effect on SOL will fade. In addition, the recently launched VC coins must pretend to pull up and squeeze the market in order to avoid the result of collective "if you don’t like it, you can sell it short". However, the secondary market of CEX will not last too long because there is no narrative and no expectation. Everyone wants to escape the great retreat of the bull market. There is no XX revolutionary diamond hand to hold it. How can the market continue to have a coherent market? Consistent expectations will only lead to shorter and shorter market conditions, forcing participants to chase ups and downs. Various sectors frequently change positions and play short-term. It can’t be pulled for a little longer. It is estimated that half a month is enough. And the real altcoin season can only wait for the next milestone innovation to appear. After all, the altcoin leader ETH can’t be deceived. What "value coin" story can be said? Fortunately, Bitcoin is still Bitcoin. The real meaning of the industry built for ten years may be that it has repeatedly proved the "only orthodoxy" of BTC countless times.