Regarding the crypto market, there are some things that need to be clarified.

First, understand one thing: creating a cryptocurrency wallet itself does not require issuing tokens, but that doesn’t stop project teams from doing it one after another. Meme coins have become the fastest way to get rich in the market because they hit people's weaknesses.

The real market environment is far more brutal than imagined. The existence of market makers is precisely for this—they have the ability to blow up your position at any moment. The so-called "community" is actually a false concept; the only reason people gather is money. Remember those NFT players who once "loved art"? Most of them are now trapped and can't get out.

No matter how fast the chain is, if the infrastructure can't even handle basic functions like claiming airdrops at critical moments, what prospects does that application have? Ironically, Ponzi schemes have become the most effective way to attract attention. The Ordinals wave? Essentially, it’s a feast carefully designed by large Bitcoin holders, with retail investors just playing a supporting role.

Once Ethereum gas fees drop, a large number of Layer2 projects will face obsolescence. Don’t be fooled by the current hype; retail investors entered two years ago, and some made money while others lost. Those projects shouting "Ethereum killer" ultimately ended up killing themselves. The irony is that Ethereum’s biggest opponent has never been anyone else, but itself.

After all the twists and turns, almost all crypto projects end up at the same point: issuing tokens.