There are always three types of money in the crypto: smart money, infrastructure money, and consensus money. Smart money occupies the high ground of understanding in the industry, appearing glamorous and knowledgeable, but it's also the fastest to leave, being the main force behind the recent influx of funds into the US stock market. Infrastructure money is capital that can only circulate within the industry and rarely goes outside of it; its core consists of blockchain industry players such as exchanges, etc., because most assets remain within the industry, thus still needing to build industry consensus. Consensus money is the true cornerstone of the industry, consisting of most ordinary cryptocurrency traders, users playing with Ponzi schemes in lower-tier markets, and those who previously promoted Ponzi schemes. In Erbao's words, "Even the consensus of fools is consensus." How many "smart money" firms started by profiting from "consensus money," and how many "smart money" firms were originally "consensus money" themselves? Don't forget the path you've walked.

All that's left is infrastructure money plus newly listed smart money and consensus money.

Right now, smart money is leaving the market. Infrastructure funds won't come out. Consensus money keeps turning into smart money and leaving. 😓