After this bear market ends, I suggest all exchanges significantly delist most altcoins and re-evaluate their listing standards. The ones truly worth keeping, for now, seem to be only BTC, ETH, SOL, BNB, and a very small number of L2s. The fate of most other altcoins is the same: a pump followed by long-term downward trends, eventually approaching zero. With this kind of market structure, I doubt any newcomers would want to participate. Open an exchange, click on any asset, and it’s the same story—liquidity dried up, assets with no dignity in their price action, accelerating user loss. Too many so-called Web3 narratives have already been disproven by the market itself. No users, no cash flow, no real demand—just recycled stories repackaged over and over. Web3 used to be sexy, but now, the market no longer buys into empty narratives.