Recently, I checked the data of several blockchain game pools again, and the downturn is quite intuitive: when the output is boosted, the tokens flow like a faucet that hasn't been turned off. Players' first reaction upon receiving tokens isn't "play another round," but rather "sell it first." As a result, the buy orders in the pool are supported by newcomers, but as interaction frequency drops, TVL (Total Value Locked) begins to loosen, eventually leading everyone to trample over each other to escape.

What's more embarrassing is that many "real users" are mixed with a bunch of automated scripts/AI agents. They appear active on the surface, but on-chain retention is a complete mess. To put it plainly, the narrative can hype up the buzz, but the security and economic closed-loop are not well understood, and sooner or later, the truth will be exposed. What about you?