Let's talk about TON and A.
TON, as a token backed by a small airplane, doesn't need marketing expenses to gain tens of thousands of holders, but the price performance of TON this year has been poor. According to normal logic, with such a large user base, there should be no reason for it to drop. But why has it dropped? Because retail investors are holding too tightly.
A, after the shell change of EOS, should have been progressing rapidly, but instead it has been declining all the way. Why? Because retail investors have become smarter now; they all understand this kind of shell-switching operation, and it will definitely rise in the end. But the 'dog' operators just don't let it rise, because we no longer have any value to them, and they can only let it decline infinitely, forcing us to exit, and then we stop holding.