Make the ultimate pricing power of on-chain asset value (price) larger, making the on-chain world stronger.

Written by: Haotian

1) The fermentation of PI coin in the sinking market has given many crypto practitioners an inexplicable moral "superiority," and almost everyone has been confused by the slogan "one PI equals one BTC" from the uncles and aunts around them.

Yes, that's right, everyone knows that is a CX slogan, thinking that people in the sinking market are very foolish, but in the eyes of many, those playing with Ponzi schemes and those rushing into meme coins on-chain are essentially no different. Being in the game, everyone knows it’s a "run fast" game, and they all believe they can run faster than others. There’s no need for mockery; if you don’t like it, just don’t participate.

2) The greater the public reaction to the listing of coins on exchanges, the more it exposes not just the aesthetic and integrity issues of the exchanges' coin listings. The surge of negative emotions actually indicates that liquidity in the market is really on the verge of drying up; everyone is losing money, and the emotional backlash is directed at the exchanges. If it were a bull market with abundant liquidity, probably no one would care;

3) The cycle of exchanges becoming the focal point of coin listings is genuinely exhausting; no matter how it’s done, it’s filled with noise. The original purpose of the coin listing group was to review project value, allowing quality projects to gain greater exposure and brand reputation. But now, the profit effect of new coins on exchanges has disappeared, and even brand reputation is gradually being lost.

Regardless of the product business considerations behind the listing of PI coin on exchanges, such as the introduction of incremental users, it cannot explain why the on-chain hot topics, which have lasted a long time, have a similarly large user base and strong consensus, like the AI Agent series tokens, are being ignored. Is it really that the Alpha projects we are passionate about are not as appealing as the aesthetics of the uncles and aunts?

TRUMP has messed things up and siphoned off a large amount of liquidity from the industry, while PI coin has taken away the remaining moral "superiority" of the industry. The current industry environment is genuinely tough. The key is that the real commercial interests behind coin listings on exchanges are very complex. To break the deadlock, there is only one way: make the ultimate pricing power of on-chain asset value (price) larger, making the on-chain world stronger.

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