Last night, I was scrolling through blockchain game data and it was a bit exhausting… One pool clearly still has quite a few people, but the tokens seem to be like a floodgate opening, with daily increases in output and consumption that can't keep up. Basically, inflation is diluting the "revenue" into an illusion. Everyone is claiming and selling at the same time, making the pool look lively, but in reality, liquidity is getting thinner and thinner. In the end, only new entrants are left to take over the old output's selling pressure.

Right now, I’m focusing on two things when looking at blockchain games: whether the output is fixed or can be exploited to exponential levels, and whether the consumption is a necessity (not just "hard spending to break even"). On the macro side, they’re talking about interest rate cut expectations, the US dollar index, and risk assets rising and falling together… Anyway, the external sentiment has shifted, and the first to be dispersed are these pools that rely on continuous inflation to sustain. Be cautious—don’t mistake “being able to claim” for “being able to earn.”