$PI Some thoughts and personal reasoning on the current market situation→

After excluding the portions that are locked, staked, or to be absorbed by the future ecosystem, if 80% of the circulating supply is highly concentrated in the hands of 10%-20% of holders, this is often not a signal of panic, but the eve of a qualitative shift in the chip structure. We are far from that point yet.
From the beginning to now, there have always been a group of people making a fuss. No need to mind. Haters are also part of market sentiment; their existence actually proves there is gambling value here. True exits are always silent, while constant complaints are essentially a resentment of the holding cost—under this mindset, the transfer of chips is only a matter of time.
All projects have development cycles, and each cycle requires pioneers to pave the way with their chips. Early turbulence is a touchstone. Those who can't endure—thank you for contributing liquidity; those who hold on—time will provide feedback. The above is just personal reasoning. Rational discussion is welcome. Leave it to the market for verification.