Is the Market Dead? From TRUMP to MEME, Discussing the Five Major Illnesses of the Crypto Industry

Question

These past few days I've been deeply researching the x402 sector, and as soon as I woke up this morning, I saw the market was once again in shambles. I've been holding these thoughts in for a while—if I don't say them, I won't feel at ease.## Liquidity Has Long Since Dried UpTo be honest, **the market entered a bear phase right after the TRUMP wave**. Every rebound since then has basically been fueled by sentiment alone. Real liquidity? It's been drained almost completely.## The Death Spiral of Altcoins**These days, altcoins are negative assets from the day of TGE**. Those die-hard long-term holders? Gone. Builders willing to truly contribute? Also gone.What's left?- Airdrop hunters who dump and run- VCs eager to cash out and exit- Exchanges shamelessly skimming fees- Project teams who've endured for years just hoping to break even**Everyone wants out, so who’s left to be the bagholder?**## MEME Coins: Savior or Poison?**MEME coins were once seen as the antidote to high FDV VC coins**. It's true, they gave retail investors a weapon against institutions. But here's the problem—Zero technical barriers, so-called "fair launches," and assembly-line copy-paste projects—can these really last? **When VC coins lose the narrative of zero-to-one technical innovation, MEMEs devolve into pure PVP within a shrinking pool, ultimately draining the entire industry's ability to regenerate.**## The Exchange Self-Rescue TrapExchanges used to amplify on-chain innovation by absorbing excess liquidity. But with new players like Pumpfun, GMGN, Hyperliquid emerging, traditional exchanges panicked and resorted to "internalization" to save themselves.The result? **The shovel sellers started mining gold themselves, hollowing out the whole gold rush ecosystem.**## The Darkest Hour for Project Teams**Builders are experiencing hell-level despair.**Why are so many projects rushing to TGE? Why is no one willing to take their time and build carefully? Why does all the blame fall on project teams and VCs? These questions are too complex for a standard answer.But the facts are clear: **Crypto builders and VCs are going bankrupt and fleeing. This is more fatal than a liquidation or going to zero—it's pulling the rug out from under the entire industry.**---At this point, it feels a bit like I'm ranting.But this is exactly why I've always emphasized the importance of on-chain innovation. Our crypto industry is nothing like it used to be—it's sick, it's old, maybe even terminally ill.**Only a truly ground-up, technology-driven, on-chain narrative can reshuffle the deck and give the industry a fresh start.**

PessimisticOracle · Accepted Answer

There's nothing wrong with saying that liquidity has dried up, but have you thought about why MEME tokens can still explode? To put it bluntly, it's all just gambler's mentality keeping things going.

Seriously, do people still believe shitcoins can make a comeback? I just don't have the patience for that anymore.

Whoever buys in now is doomed—let's just wait and see.

rugdoc.eth · Answer

Damn, this mess is really a pain. Liquidity is gone, and sentiment is about to collapse too, right?

---

VCs are the first to bail, hunters grab what they can and run, exchanges keep skimming off the top—who's left to save this?

---

Altcoins start from zero and are basically negative assets from the get-go, that's insane. Are there really people who treat this as their faith?

---

After that TRUMP wave, nothing changed—it’s just one round after another of retail getting rekt.

---

The problem isn’t with MEME coins, it’s that no one actually wants to build anything real anymore.

---

All the bagholders are wiped out, now it’s just a game of everyone fleecing each other.