#数字货币市场洞察 To be honest, this round of the altcoin market is completely different from before.

Are you still looking at the market with old thinking? That’s really going to cost you big.

The days when you could “blindly go all-in and still make money” are completely over. The rules of the game have fundamentally changed.

Let’s start with the most obvious point—the issuance of new coins is insane.

Have you noticed that project teams aren’t even telling stories anymore? They just slap a FDV of several billion USD on it, and the exchange calls it a “quality project,” then suddenly all the liquidity is sucked away. At least in the past they would hype it up, build a community, draw a big vision. Now? They go straight for sky-high valuations and grab money hard.

Here’s the problem: who’s going to be the bagholder?

Do the math. Now, three to five so-called “star projects” can pop up in a week, but there’s only so much money in the market, and there isn’t a flood of new retail investors coming in. Coins can be issued endlessly, projects can keep launching, but the money? Money is limited, my friend.

Now look at the old projects—one after another, they can’t hold up.

It’s not that these coins are bad, it’s just that there isn’t enough capital to go around. The logic now is brutally simple: new projects aggressively suck up liquidity → old coins keep dropping → the whole market’s liquidity gets thinner and thinner. This isn’t a narrative shift—it’s pure structural bloodletting.

What’s even worse? When there’s no new external capital coming in, the market becomes a pure PvP slaughterhouse.

Sounds brutal, but that’s the reality. With no new money entering, it’s just players cutting each other up. Stop dreaming that “low market cap quality coins will definitely rise,” and stop fantasizing that “hype alone can make something take off.”

What’s the current state of the altcoin market?

Token unlocks are terrifyingly frequent.
The supply is insanely huge.
FDVs are off the charts.
Every sector is overcrowded.
Buy-side demand is pathetically thin.

You think it’ll go up, they think you’ll be the exit liquidity, and in the end, everyone gets trapped together.

There’s another fatal problem—unlock selling pressure.

When the market was hot, there were plenty of new users, FOMO, and all kinds of dumb money pouring in. Now? Capital is extremely picky, like a sniper only taking shots at sure things—no reckless moves.

And what does token unlocking mean? It’s like a machine gun firing at your head. Capital inflows are a trickle, unlock sell pressure is a waterfall—how can this possibly hold up?

It’s not that I’m pessimistic.

The data is right there.
The structure is right there.
This is the reality of the market.

So the real question now isn’t “which altcoin can go 100x,” but “under this structure, who can actually survive? Who still has room to go up? Who can withstand the unlock sell pressure?”

That’s the core survival skill at this stage.