Today, a friend told me he still has a pile of altcoins, and the price has dropped more than 70%. He asked me what to do?

Facing this pile of "hot potatoes," what should we do? Don't panic, let's analyze step by step!

1. Stay calm, assess the current holding situation, and clarify the specific cryptocurrencies: What altcoins do you hold? Are they Layer 1s like Solana or Avalanche that have ecological support, or are they garbage coins like OM or WCT that have collapsed? Different cryptocurrencies require vastly different handling methods. Solana just received backing from a Canadian spot ETF, with ecological trading volume at 355 million, and there is still room for a rebound at $140; but for something like OM, with inflation and daily unlocking of 400,000, where the project team has run away, it's basically done for. Check the source of the decline: Has it dropped 70% because the market crashed, or is there a problem with the project itself? If it's a market issue, there may still be hope; but if the project team has run away (like OM cashing out $100 million), then it's basically hopeless.

2. Decision-making: Cut losses, hold, or buy the dip? Cut losses: If you hold coins like OM or WCT that have collapsed, where the project team has run away and the liquidity is gone, such projects can "drop 90% and drop another 90%". Don't fantasize about buying the dip; quickly liquidate, even if it means a 70% loss, preserving the remaining 30% of the principal is key. There are many opportunities in the crypto space, and without capital, you can't play anything.

3. Risk management: Don't step on landmines or chase garbage coins. Altcoins currently have poor liquidity, and it's common for the operators to run away, as seen with WCT and KiloEx (which lost $7.4 million in a hack). When choosing coins, consider the ecosystem, technology, and community, and don't be fooled by "grand narratives."

4. Calm down, don't impulsively go all-in or liquidate everything. Learn some technical skills: Look at candlestick patterns, on-chain data, and opportunities can arise at any time. Preserve your principal, test new projects with small amounts, like airdrops, which have low risk and can help you gain experience. Summarizing your friend's pile of altcoins, quickly cut the garbage coins (OM, WCT), while quality coins (Solana, Polygon) can be held for a chance, but buying the dip should be done with care. The crypto space is currently a minefield, with a 245% tariff war and project teams running away, retail investors need to be more cautious.

5. Exchange holdings. Swap your garbage coins for potential ones like SOL to take a chance.

6. Admit defeat and cut losses.