The market is undergoing an interesting shift: in the past, investors were willing to take risks by purchasing alts, anticipating explosive growth in the future; whereas now, the increase in stablecoin holdings clearly indicates that investors are more inclined towards a wait-and-see and conservative strategy rather than risky investments.

In the long run, this trend will lead to continuous bleeding in the altcoin sector, further collapsing valuations. The most obvious market phenomenon is that even with a large influx of funds, these coins struggle to achieve price rises, especially those projects that lack substantial products and rely purely on the emotions of chasing and killing the market.

However, from a different perspective, if you can identify projects that truly focus on product development, have sustainable operating models, and do not rely on external hype, they are likely to become the real winners of the next market cycle.

The core gap in the current market lies not in the amount of funds, but in the formation of consensus. History has repeatedly proven that market consensus never favors projects that have been overly hyped and whose prices have skyrocketed.