Recently, I came across several blockchain game pools that "suddenly lack liquidity," basically meaning the output is too strong and consumption is too weak. In the early days, watching a bunch of coins drop daily was pretty satisfying, but that was actually inflation feeding you. When the studios step in, the output is directly maximized, and everyone is left with just one action: sell. When the coin price softens, the profit expectations worsen, more people withdraw, and the spiral begins.

Now I don’t pay much attention to hype in blockchain games, I focus on "water ripple"—whether new funds are layering in or if it's just a studio siphoning off. If the mechanism to consume the output is only relying on "more newcomers taking over," then it’s basically… better to be cautious. In the end, it’s still that phrase: don’t chase whales, chase water ripples.