There will still be knockoff season! Be optimistic for 27 years, be conservative for 28 or 29 years. The 26 year wave of fully funded projects has released their coins, and most of the VCs in the cryptocurrency industry have already hung up, so they won't invest in the projects anymore. In the 27th year, the bear market continued with a decline in knockoff volume. At the end of the 27th and beginning of the 28th year: Chives have developed a habit of not buying altcoins during the long bear market. They only focus on developing new products and never hold onto them. The car thieves of altcoins are light; No VC has the energy to save up, and everyone knows that chives are not buying anymore, and there is no one to take on the plate of high valuation; The surviving projects have started to stubbornly adhere to fundamentals, capture users, and have a huge low opening valuation; Then a wave of knockoff season made all the paper hands who were disappointed and unable to hold onto the cryptocurrency circle start patting their thighs.