Following this topic, if "good" projects do not receive reasonable pricing and valuation in the secondary market, it will inevitably lead to the "clearance" of some "good team, strong technology" and other well-established projects. Correspondingly, a large number of venture capitalists who value and invest in projects based on their team background and technical expertise will also be forced to "leave" due to exit difficulties. The true meaning of VC Longbull is the financial support brought into the primary market by VC (LP/GP), providing project parties with a 2-3 year growth buffer period, allowing sufficient time for technological innovation to develop, verify, and improve. Let's all work together to make the cake bigger and then find a "positive" exit path. But at present, there is no evaluation standard for good or bad projects in the secondary market, and there is no patience for long-term hold exits. Every link in the industry chain is trying to squeeze liquidity, which undoubtedly destroys the underlying "value scale" of VC cows that lasts for a whole cycle. The market will gradually lean towards projects that are good at marketing but lack substance, and teams that can truly solve market problems and create value will not receive the necessary support. The original market reshuffle mechanism of "survival of the fittest" may simply become a distorted state of "bad money driving out good money". If the market loses its' long termism 'and allows short-sighted market logic to prevail, it may be the real crisis facing the crypto industry, because' real 'value creation requires time and patience.