According to Messari analysts, the crypto market may have reached a risky stage where some traders will lose. While there may still be local tops and rallies, value extraction has become a risky game, leading to a PvP competition among traders. The year 2024 saw wealth creation through innovation and the emergence of new assets, with the launch of successful airdrop tokens and the increase in stablecoin supply. The involvement of large funds and institutions accelerated with the arrival of new users. Leveraged positions and speculative price moves defined market direction, and the 200B supply of stablecoins allowed traders to take aggressive positions. Leveraged tops may indicate that the market is preparing for unwinding, leading to some early investors and insiders extracting value from projects. Retail investors may remain bullish while VC investors and funds take profits. It is important for memecoin investors to seek out community coins with strong holding ethos, and whales and experienced investors may be preparing for a quiet withdrawal to avoid causing panic. The trend among investors has shifted, with narratives changing quickly and some tokens losing value rapidly.



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