I've heard many people complain that altcoins are becoming harder to develop, constantly citing "small scale, low turnover." But if you ask me, that's just a surface phenomenon; the real issues run deeper.

Market participants have already changed—this is fundamental. The old tricks of boosting stock prices with whitepapers and stories have long lost their effectiveness. Now, the money coming in is cold-blooded—only looking at tangible results, leaving no room for ambiguity.

Altcoins are hard to profit from mainly due to two reasons.

First, many projects remain empty shells after years—no usable products, no real application scenarios, just repeatedly telling stories to maintain hype. A few years ago, this could still fool people, but now the market's patience has been exhausted, and big investors simply won't buy into it.

Second, the issuance price has been inflated too high. In the last bull run, many coins were pumped to sky-high prices right after launch—peaking immediately, leaving nowhere to go afterward. Naturally, they fell into a trap of no buyers.

What’s more painful is that capital is rapidly shrinking. Currently, hot money and trading volume are concentrated on just a few star projects, while other coins are getting less and less exposure. Being passively pushed out has become the norm. Project teams have also seen through this—rather than struggle to attract attention, they prefer to lower their profile and focus on basic operations. The result is frequent dumpings of new coins, and the market’s long-term holding appetite for altcoins is rapidly declining.

In such an environment, hoping to "wait out the time for growth" is simply unrealistic. A more pragmatic approach is to seize short-term opportunities, act quickly with clear targets, and cash out as soon as expectations are met—no daydreaming.

In the past, we ran blindly in the dark; now, we hold the initiative. The lights are still on—are you coming along?