Benefiting from the pump-priming of BN, there have been a total of 18 projects listed on alpha from the beginning of the year until now, among which 11 have also been listed on perp, but only 3 have been listed on spot. After communicating with peers, this ratio is roughly similar.

However, more than half of the projects here have not unlocked tokens for investors, so they are still in a highly controlled state. The real test of the liquidity of the altcoin market will be in the first half of next year.

It is highly recommended that capable altcoin project teams put a portion of their tokens into the stock market to disperse the selling pressure on the spot market, while also further screening them. This will achieve the integration of tokens, equity, equity tokens, and tokenized equity. As @willwangtf said, the coolest old man in the park can play four balls at once, hahaha.