#BTC It has always been difficult for knockoffs, and although recent times have seen some hype pick up, on the surface it looks like knockoffs are reviving, but in reality, they are being pushed deeper into the abyss. Recently, all the hype reports have involved controlled projects—where a single holder holds 70% or more. Although this isn’t the first time, it’s becoming more and more common, and increasingly outrageous lately. This time, Rave is an important part of the acceleration, and the future of knockoffs is worrying.

The Future of Altcoins: From a Gold Rush to Polarization

If in the last bull market you could multiply your investment by buying knockoffs with your eyes closed, then in the market ahead, you may need to open your eyes wider. Knockoffs won’t disappear, but the era of “gold everywhere” is over. In the future, they will move onto a path marked by dramatic polarization.

Polarization: a few winners, most go to zero

This is the most crucial shift.

Only a very tiny number will be able to remain—those with real applications that can generate income. For example, leading DeFi projects (Uniswap, Aave), mainstream Layer2 networks (Arbitrum, Optimism), and the RWA (real-world asset tokenization) track. If they can get through the cycle, they may gradually be regarded by the market as “crypto blue chips.”

And the vast majority of knockoff coins—especially Meme coins that rely purely on narratives and emotion-fueled speculation, inscriptions, and low-quality “turd dog” projects—will ultimately head to zero. They have no fundamental support. After liquidity ebbs away, it will be difficult for them to find a way back.

Once you pick the wrong one, just wait for it to go to zero.