Last night, I casually looked at a blockchain game pool while monitoring the market, and honestly it’s just “too much output + too weak recovery,” the coin keeps being issued, but its utility is limited. Players are left with only one action: withdraw and sell. The data looks lively, but in reality, inflation is slowly draining the pool, and it can only be sustained by the emotional buy-in of new entrants. Once the inflow stops, it collapses, similar to the suffocating feeling when funding rates suddenly go in the opposite direction.

Recently, I’ve also heard about certain regions increasing taxes and tightening regulations, then loosening them again, causing expectations for deposits and withdrawals to fluctuate. People are even less willing to lock their money into these long-cycle economies, preferring quick in and out. Anyway, I’m currently saving screenshots of “high yields” first… then thinking about whether to get involved or not. If I can avoid holding through the downturn, I will. If I do, it’s only small positions, and I’ll cut losses and sleep if it drops below expectations.