Let GPT think about what cryptocurrency stocks are popular but lack liquidity. GPT gave a very funny answer: In summary, stocks are 'compliant Crypto Beta', while Altcoin in the cryptocurrency industry is' non compliant high Beta junk asset '- big investors would rather buy the former. Stock market compliance, strong liquidity, convenient leverage, clear narrative, and the ability to safely obtain Crypto Beta returns; However, Altcoin in the cryptocurrency industry lacks new stories, has gray regulations, and faces difficulties in depositing and withdrawing funds. Its liquidity is drained by stocks, forming a vicious cycle of capital outflow and internal liquidity depletion. Simply put, institutional fiat currencies can be traded in stocks but not in currencies at will. The narrative, channel, and fund structure determine the difference in popularity between the two sides.