Is the crypto market in dire straits? Only on-chain innovation can save the situation.

Question

I&#39;ve been buried in research on the x402 track these past few days, and when I finally looked up, I found the market had crashed again. Well, I&#39;ve got a lot to say and I can&#39;t keep it to myself.## The market has entered a bear phase early, don&#39;t deceive yourself.Since that wave from TRUMP, liquidity has basically been squeezed dry. Those small rebounds afterwards? They are all supported by emotions, where is the incremental capital coming from?## Altcoins have been in debt since the day they were launched.What’s the situation with altcoins now? **TGE day is just a negative asset**. In the past, there were loyal players holding on for the long term, and developers were working diligently. But now? Airdrop hunters cash out and run, VCs are eager to exit, exchanges are taking a huge cut, and project teams have been grinding for years just to make a quick buck—**everyone is in a hurry to exit, who will take over?**## Is MEME Coin a Savior or Poison?MEME did indeed seem like a savior at first, providing retail investors with an option to counter high FDV VC coins. But look at it now, zero threshold, fake fairness, assembly line replication, **it simply cannot sustain value in the long term**.What’s worse is that without the kind of technological innovation from VC coins that supports the leap from 0 to 1, MEME is just a PVP game of stock competition. **This thing will only hollow out the entire industry.**## The exchange has started to play on its own.Exchanges were originally the liquidity hubs for on-chain innovations. However, with the emergence of new things like Pumpfun, GMGN, and Hyperliquid creating wealth effects, exchanges panicked and started to implement "internalization" for self-rescue.**Selling shovels to start digging for gold oneself, what is the meaning of the entire gold rush ecosystem?**## The Darkest Moment for BuildersWhy are so many projects queuing for TGE? Why is no one willing to slowly polish their products? Why are the project teams and VCs bearing all the blame for the imbalance in the market structure?It&#39;s too complicated, and no one can explain it completely. But one thing is very clear: **the bankruptcy and fleeing of Builders and VCs in the crypto space is already a reality**. What is more terrifying than liquidation? It is the industry being undermined and the loss of talent.---Writing so much feels like whining. But this is the reason I have always emphasized on-chain innovation—Our crypto industry is no longer the same as it was in the past. It is sick, old, and is even close to collapsing.**Only a blockchain narrative that starts from scratch and is driven by technology can save it all.**

GasGasGasBro · Accepted Answer

Hmm... Isn't x402 just stacking concepts as well? To put it bluntly, it's still lacking real growth.

Real liquidity has been drained; now all the rebounds are just bots hyping themselves up.

The old playbook for altcoins has broken down—after TGE, it's just a countdown to rug pulls. Who still believes in this?

MEMEs are just for fun. Don't put too much hope in this kind of thing.

rugdoc.eth · Answer

I’ve said it before, without true believers holding the line, you can’t play this market at all.

VCs cash out, then retail gets dumped on, exchanges take the biggest cut, and project teams are still trying to squeeze out one last bit... Who the hell is left to hold the bag?

When MEME coins were hot, I was optimistic too, but now it’s all copy-paste garbage—you can’t even tell what’s real anymore.

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What’s the point of researching the x402 sector? There’s nothing worth studying in this market... Real innovation is being choked out by a lack of liquidity.

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Liquidity’s completely drained and they’re still pretending there’ll be a rebound—who are they trying to fool?

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You’re right, being underwater as soon as you list has become the norm. Who dares to touch shitcoins now?

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Might as well study how to get out alive instead of researching sectors.

NotGonnaMakeIt · Answer

This is the problem, there are no real innovative projects, just sucker harvesting machines.

No matter how good the talk is, it&#39;s useless; in the end, it&#39;s still the VCs and exchanges that make money while we only get the soup.

x402 track? Never heard of it, just another new concept to play people for suckers.

Rather than expecting any on-chain innovation, it&#39;s better to figure out who is catching a falling knife.

The Bear Market is when the truth is exposed; those projects that boast the loudest reveal their true nature as soon as they land.

Everyone is running, what are you running for? The dumb buyers behind will have a tough time.

StakoorNeverSleeps · Answer

x402? Nowadays, every track is just about炒概念, wake up.

Altcoin TGE is just negative assets, I believed it.

MEME coins have long been worthless, who still believes this thing can save the market?

Once the Liquidity is drained, there really won&#39;t be any increment, it&#39;s all just an air Rebound.

VC cashing out, exchanges skimming, project party playing people for suckers, perfect combination.

The market is indeed seriously ill, on-chain innovation is a joke.

FloorPriceNightmare · Answer

Dude, that&#39;s spot on, it&#39;s just a game of hot potato now.

Dumb buyers are almost extinct, who still dares to take on this mess?

x402 track? I see it&#39;s all hype, what&#39;s the point of playing with things that have no real liquidity?

Altcoin TGE is yielding negative returns, how can we continue like this? It&#39;s time to face reality.

MEME coins have indeed saved a few people, but now it&#39;s just a gambling den, that zero barrier moment was destined.

On-chain innovation can&#39;t save the market, it can&#39;t save human greed.

Instead of studying the track, it&#39;s better to figure out how to survive.

AirdropHunter9000 · Answer

Look at his analysis... indeed hit the nail on the head, the liquidity being squeezed is not wrong at all.

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x402 track? Bro, you are still studying this, I gave up on figuring out the track a long time ago.

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Right now, the alts are really terrible, the day of TGE was a blood Whipsaw, how can anyone still dare to get in?

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MEME coin savior? Laughing to death, now it&#39;s just a copy-paste production line, not a single one can survive.

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Still thinking about incremental funds? Wake up, man, this round has long been about existing capital battles.

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Simply put, on-chain innovation hasn&#39;t kept up, it&#39;s all just reheating old leftovers, no wonder the market is like this.

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Airdrop hunters run away after cutting, and VCs are also shifting blame, who the hell still wants to deal with this broken market?

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Instead of looking at these analyses, I actually want to know when the next hot track will come.

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The number of faith players has really decreased over the past few years, they&#39;ve all turned into short-term speculation.

MEVHunterX · Answer

x402 track? Dude, your insight is impressive, I&#39;m still doing my own research, with the market like this, I really need to stay calm.

Not to mention, the strategy of altcoins is really something else, losing value on the day of TGE, I&#39;m also stunned.

Meme coin savior? Aren&#39;t they just here to play people for suckers? Who still believes in this now?

Liquidity has been like this for so long, when will it recover? I&#39;m just lying flat and observing.

MEVSandwich · Answer

Sigh, I haven&#39;t figured out this x402 track either, but speaking of which, the liquidity is really gone, and the rebounds are like the dead coming back to life.

Altcoins have long been disbelieved, ever since TGE day, it was destined; the VCs had already laid their ambush for cashing out, and we retail investors are just waiting to be played for suckers.

I no longer believe in MEME coins as saviors; it&#39;s just copy and paste, and those who are meant to die will still die.