#美联储重启降息步伐 The altcoin market in 2025 has essentially become a meticulously designed washout game.

Many people blame the market downturn on a "lack of liquidity." That’s true, but only half the story. The real killer is that these projects have rotted to the core.

From the metaverse hype to RWA, and now to AI concepts everywhere—what’s really changed? It's the same old tricks with a new label, and even the project teams themselves can't keep up the act anymore. Teams take no real action, communities are empty shells, and they dare to list with market caps in the billions. This isn’t fundraising, it’s outright robbery—peak at launch, and everything after is just time to dump.

The result is predictable. Funds only dare to pile into the top projects, while the other 90% of altcoins turn into the walking dead. If a project team tries to pump the price a little, it gets dumped immediately, so they just give up. New coins launch? Breaking below issue price is the norm; they can’t even be bothered to draw a price chart anymore.

It used to be “hold and get rich,” now it’s “run slow and get buried.” The rules of the game have completely changed: get in and out fast, cut your losses hard, and if you catch a rebound but don’t exit? Then wait for the next bull-bear cycle to say goodbye.

There are only two ways to play now: either you have insider info and can outrun the project teams themselves, or you only touch the most certain blue-chip tokens. Stop fantasizing about “100x coins”—first ask yourself: how many people haven’t exited at this level? Am I going to be the last one holding the bag?

The altcoin battlefield in 2025 is a hunting ground for professional predators, not a playground for retail investors.