Looking at a set of data, over the past year, among all cryptocurrencies with a market cap exceeding 100 million, approximately 70% are in a loss state. What does this reflect? It indicates that the timing of choosing altcoins is no longer very important, as the entire market is almost entirely in negative returns.

From a different perspective, this seems to suggest that technological innovation at the application layer has essentially failed, and the market is not as receptive to new narratives anymore. Setting aside BTC, the pure altcoin market has already formed a staggering money-losing effect.

Shorting sounds like a viable idea, but in a year-long downward trend, shorting can easily fall prey to rebound spikes. The question is—why does such a losing market still exist? Why hasn't it disappeared like the markets for postal coins, trading cards, or tea cakes?

My judgment is that, around asset issuance, there are still wealth opportunities. The crypto market is fundamentally still the place with the highest issuance efficiency and the most diverse issuance methods. This is the core reason it has not been eliminated.