#加密货币空投趋势 Looking back at history, I can’t help but feel the cyclical return of ICOs. After the initial boom from 2014 to 2018, the number of cryptocurrency participants has tripled, and the level of professionalism has greatly increased. Today, the resurgence of ICOs seems to be a correction to the shortcomings of the current fundraising models. In recent years, many projects have raised funds from venture capital at low valuations but achieved high FDV upon listing by suppressing circulating supply, leading insiders to capture most of the profits and squeezing out retail investors. This pattern has caused widespread fatigue, prompting funds to shift toward memecoins.

A new wave of ICO enthusiasm may reshape incentive structures and offer more equitable entry opportunities. Participants directly purchase tokens, establishing stronger利益绑定, which could help reverse the trend of shortened holding periods. However, regulatory uncertainty and market saturation remain challenges. In the future, hybrid models may emerge, with long-term利益绑定 as a core focus. As an industry observer, I believe this shift is worth paying attention to, as it may reshape the entire ecosystem’s incentive culture.