I've been thinking about this question lately: so many people are choosing to exit this year, but why exactly?

Many say it's because of poor market conditions or shattered beliefs. Actually, that's not it. The game itself has changed.

Let's review. In the past few years, the crypto world was a narrative-driven market. A project could survive because someone was writing code, someone was building a community, and someone was discussing disagreements to restart. The cycle was long, the trial-and-error costs were low, and as long as you were genuinely working on something, there was always time to adjust your direction.

Now, the pace of the game is completely different.

The current process is like this: issuing tokens, CA announcement, a few influencers sharing, the K-line completes, liquidity is drained, and the story ends. It might only take a few days. This isn't competition; it's pure speed elimination. The ones eliminated aren't necessarily the ones with weaker abilities, but those with slower reaction times.

The most frightening aspect of PVP acceleration isn't becoming more brutal, but wealth starting to concentrate rapidly. A few major players control the information sources, dominate liquidity entry points, and manipulate market sentiment. And the vast majority of ordinary participants? They haven't even recouped their learning costs before being liquidated.

Many people simply don't understand:
What is this project about?
Is anyone truly building within the community?
Where do these consensus come from?

The market has already turned the page.

Therefore, a large number of people are choosing to leave. Not because they've lost all their money, but because they see no point in participating anymore.

Some might blame MEME for the problem, but that's a misjudgment. What does a real MEME require? Years of accumulation, continuous resource investment, long-term community engagement, and ensuring every participant can genuinely benefit. Most current MEMEs are just quick hype, which is not true MEME.

This year, so many people are leaving the scene, which actually reflects a phenomenon: this stage of the game only rewards speed and ruthlessness, not construction. Without a construction cycle, only pure price cycles remain. Without community patience, only emotional harvesting remains.

As a result, the crypto world increasingly resembles a casino. But this isn't due to technological regression; it's because construction has been completely pushed out of the game.