The crypto space is now a pure casino; there is no room for decentralized idealists to survive. The value investing strategies of spot traders have changed; the only asset you can hold long-term is BTC. Altcoins can only capitalize on timely trends, and there’s no way to conduct in-depth research. By the time you spend days researching, the trend will have already passed, and whether you profit or lose is determined by fate.

Recently, I整理了下我的山寨记录, taking the largest altcoin group, the Ethereum system, as an example. When the market was about to start in 2023, SSV was still a star project of Ethereum. I built a position in SSV and UNI, which was the leader of the previous bull market. Later, I also invested in ZK, which was touted as the ultimate solution for decentralization.

One is the staking cornerstone of the mother of altcoins, Ethereum; one is the largest DEX at the time that can generate actual profits; and one is ZK, which was given high hopes for decentralization. So what happened? SSV has now halved compared to its price before the bull market started, UNI has only risen by about 10%+, and ZK has also approximately halved.

I consider the altcoins I chose to be conservative, yet they are still in such a dismal state. Not to mention those in the DeFi, GameFi, and SocialFi sectors, which, after a few days of trending, are left with a long decline. At least the large-cap stocks can rotate through trends, while these sectors can only wait for a big market to come along and follow the trend.