After a year of altcoin bear market, many market consensus views have been overturned.

1. No one has mentioned Bitcoin blood-sucking altcoins for a long time. People have become aware of high FDV and token unlocks.

2. There doesn't appear to be a relationship where Bitcoin rises first, then ETH, then altcoins take their turn.

3. Traditional institutional capital is more inclined toward Bitcoin and major cryptocurrencies.

4. Setting aside top projects, the value of VC endorsements has significantly declined.

5. Crypto narratives haven't disappeared, but pure narrative alone can no longer drive market speculation.

6. The tokenomics, chip structure, and exit paths of many VC projects are fundamentally not worthy of being listed on CEX for price discovery.

7. Token listings on CEX don't necessarily bring buying pressure. Most projects' performance post-listing is straightforward—early communities are dumping.

8. The myth that airdrop farming is highly profitable has collapsed (it's been dead for a year; the airdrop track is now like a corpse).

9. Liquidity hasn't evenly dispersed across all altcoins; it's related to the ability to compete and lock in value.