It's that time again to sigh about the poor market conditions. 1. No profit-making effect from new tokens Haven’t seen Alpha launch anything new for a while, or even if they did, it’s been dead silent. Those trying to farm can’t get anything, and there’s no room for secondary market gains either. So after launching, it’s just a downward trend with no buzz. A spot token launched a while back—I actually kept an eye on it, thinking maybe after such a long time, it might pump a bit. But nope, it’s been a continuous downtrend. 2. No one follows the pump in the secondary market Checked out the secondary market, and a lot of projects are trying to pump, but almost no one is following. The volume just isn’t there. Most market makers see no one following and immediately bail. A few stronger ones might keep playing, and if they push it up, some people might join in, but the volume is nowhere near what it was during better market conditions. 3. Same few people still thriving on-chain From Robinhood to stablecoins, you might still see someone making hundreds of thousands of dollars daily, but it’s always the same few people. Everyone knows whose money they’re making—it’s from those silent folks who aren’t speaking up. 4. Agencies have no business anymore Since there are no new token launches, most agencies are out of work. Even many KOLs who rely on ads have no business now. Recently, a lot of people have been asking me if there’s any work, but honestly, I don’t have much either. A few launches that were planned have all been postponed. The market is just too bad—costs and returns don’t match up, so no project teams are willing to do anything.