The visible exodus of funds from crypto

NFTs, DeFi, memecoins, new L1 and L2 projects—most of today's projects/coins are built on speculation upon speculation
It feels more like a PVP game, where the word "Build" has become a derogatory term—that's the reality
Retail investors are dwindling, active DeFi users are decreasing, and on-chain participants are being wiped out one batch at a time
Meanwhile, the token supply continues to grow, new projects launch weekly, unlocks are ongoing, and VC-backed tokens are looking for new buyers
This is a classic case of oversupply
So the question becomes: who will be the buyers? Who will absorb this supply? Who truly needs these junk copycats? What problems are they actually solving?
Look at what content on X platform attracts the most attention: "Bots earning XX times through Polymarket," "My lobster automatically makes me money," and so on—that's what people like to see
Why? Because in any market, hope remains the strongest narrative
Those who stay are seeking asymmetrical opportunities right here and now
The current mainstream narratives are: prediction markets, AI-assisted trading
If you look at the highest revenue projects, they are all trading-related platforms, including Axiom
And I believe it’s not the only project operating with similar market manipulation dynamics
If you want to make money in a scam-filled market, your main task is either to control information or to become a scam
This is the reality of the crypto world; these are the rules of the game