Token2049 Record by Captain Jack

1. Most of the panelists are pessimistic about market expectations, and even worry that if there is no new innovation and new growth by May next year, the market ecology may be reshuffled and reshaped as a whole.

2. Lack of innovation, and the stock concentration at the top. The top 15 coins weighted by the number of users and market value, such as doge and shib, have fallen 70-80% from their highest point, and others are even worse.

(Based on the data I have seen, I guess the exchange trading volume may decrease by 80% from this year)

3. Decentralized stablecoins and payment applications, two infrastructure constructions, are obvious incremental tracks.

4. The faith in the primary market has collapsed. In the past two years, only a few of the primary market projects have made money.

5. It is not easy to make money in the primary market. Professional financial institutions are involved in the secondary market. Li Lin took out 500 million US dollars to play the secondary quantitative mother fund. Quantitative entry into the market has accelerated the harvesting of leeks.

6. At present, we feel that there are no more than 10 institutions with stable secondary quantitative capabilities.

7. Leeks are fighting against quantitative. The strategy is to buy and hold the top 5 big coins, reduce transactions, and die.

8. Leeks, buy & hold, the exchange trading volume will decrease, AUM will also decrease, and the exchange will be uncomfortable.

9. Second-tier exchanges began to slam marketing, participated in Bitget and XT activities, went overseas with Gate friends, and saw BingX and Weex marketing... So, the marketing costs of exchanges will increase.

10. Ton Ecosystem and Solana Ecosystem seem to have some structural trading opportunities.

11. As a veteran who entered the Internet industry in 2003, although I see problems, compared with the Internet in 2000, the number of practitioners, skills, infrastructure, number of users, industry totals & segmented fields have room for growth, and there is still a lot of room for growth.

So, don't leave the table?