Currently, the altcoins in the crypto space can be roughly divided into three categories:
The first category includes legitimate projects, mainly public chains and some underlying infrastructure, which tend to rise whenever the market experiences an uptrend. For example, ETH, LINK, etc.
The second category consists entirely of scams, having only a white paper; once they hit the exchanges, the price peaks, and after the insiders offload their holdings, the coin becomes inactive. Many exchanges have listed such coins.
The third category is the most numerous. While they aren't outright scams, they do have actual products operating; however, their positioning is completely misaligned. Investors believe they are investing, while the project teams treat them as users—there's no mechanism for token buybacks or burns, and you are hoping the project team will drive the price up, while they expect you to use the product more and help them inflate the data. This has become a particularly awkward aspect of Web3, akin to two people with mismatched thoughts trying to compete with each other. Project teams often think they can grow big relying on retail investors in the crypto space, but in reality, no matter how hard they work on their products, scaling is difficult; many teams haven't even made profits and are just self-deceiving. Retail investors are the same; they clearly have more stable public chains available but still choose to invest in such projects, making losses inevitable.
If the future of Web3 relies solely on the immature projects and blindly following funds currently in play, it certainly won't go far. What is truly worth looking forward to is when experienced and resourceful individuals and funds from the internet industry come in, combined with the integration of AI technology, sparking a more rational bull market. With traditional internet growth slowing down, these individuals are in need of new opportunities, and Web3 might just be the next landing point.
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