In the current cryptocurrency market, many projects' trading volumes are driven by market makers artificially inflating them, lacking genuine user support. Once investment is withdrawn, liquidity black holes can occur.

But if we delve into projects that rank in the top ten in the derivatives market, the situation is quite different.
$BEAT The recent 24-hour contract trading volume has stabilized between 4 billion and 5 billion USD, a volume that is difficult to achieve solely through institutional players.
Combining the rising CMC rankings with on-chain data, it shows that retail investors' actual participation is very high.
Over the past 30 days, data from Dune indicates that retail buying pressure has been gradually increasing at different times.
When a project has genuine, highly liquid retail order books, its price support tends to be much healthier than projects that rely solely on a single dominant player controlling the market.