Talking with my big brother, we discussed the current state of the crypto world and the US stock market, and I have many feelings. Here's my own perspective.

First of all, the losses caused by November 11 last year are much greater than they appear on the surface.
Originally, Bitcoin, the US stock market, precious metals, and other assets were running side by side in a marathon.
You chase me, I chase you, very unharmonious.
Suddenly, Bitcoin's left leg's hidden injury relapsed, and it was directly disabled, turning into a one-legged hop forward.
Gradually, it couldn't keep up, and people on the sidelines who had been holding money started turning their bets to the US stock market.
Smart people had already shifted entirely to the US stock market on November 11.
Not because they were pessimistic about the crypto world, but when comparing the two, they would definitely choose the athlete with healthy legs.
Of course, it's not too late now.
This is the fundamental reason for the current state of the crypto world—one step slow, every step slow.
Injuries are not incurable, but they require time.
Back to memes. The reason various exchanges don't support them is because they can no longer attract new users and incremental funds.
Taking Binance as an example, I once said that if the leader in a certain track falters, then coins in that track won't be supported anymore.
It's a simple principle—why go up there? To suck blood from the leader? Both would die together.
Regarding the BSC chain, even if liquidity dries up to the extreme, most Chinese users still prefer to watch BSC.
The reason is that it's friendly to Chinese speakers, everyone knows each other, and they are used to it.
Since that's the case, Chinese users all play on BSC and can't do without it. Then there's no need to take any further action; the goal has already been achieved.
From the exchange's perspective, incremental funds and new users are always the most important.
Now, on-chain stocks that can bring new growth are definitely shifting the focus to that area.
Any other illusions at this stage are just forced explanations born out of dissatisfaction with the current situation, used to comfort oneself.