It is said that Bonk is very cheap, but as soon as the news of Pump's public offering came out, Bonk was immediately affected and dropped significantly. The market has voted with its feet and provided the answer.

Platform tokens basically belong to the category of large-cap altcoins. Whether they can rise or not ultimately depends on two points:

1. How the macro market is performing, whether BTCDOM has come down, and whether there is capital flowing into altcoins.

2. Is the on-chain activity prosperous enough? Only with enough prosperity can there be gains.

In my view, whether it is a leader is secondary. The overall on-chain ecosystem is gradually shrinking based on objective data. The relationship between several launchpads is akin to 'when the lips are gone, the teeth will be cold.'

Referencing the situation after Blur's token issuance, there was a small bottom in the NFT market before the token was issued. After the token was issued, the performance of the token was surprisingly good, and they promptly launched the second season. After the NFT market experienced a dead cat bounce, it entered a dark age.