PANews reported on March 30 that according to Cryptoslate, based on a recent report by research firm Decentralised, with a surge in token quantity, new capital inflows have stagnated, leading to insufficient funding for many crypto projects. The average stablecoin liquidity per token dropped from $1.8 million in 2021 to just $5,500 in March 2025, a decrease of 99.7%. This decline indicates that the continuous increase in token issuance (currently over 40 million assets) has diluted available capital, while demand or user retention has not increased correspondingly. The influx of new tokens has outpaced the expansion of the capital pool, resulting in reduced liquidity, weakened communities, and decreased engagement. Without a persistent source of income, user interest typically dissipates after short-term incentives like airdrops. Without a sustainable economic structure, attention becomes a liability rather than an asset.
