The game itself is regressing, and I think the current cryptocurrency circle is in an awkward period where the dividends of barbaric growth are disappearing, but the rule of law civilization has not yet been established. This' giant baby feeling 'comes from the collapse of faith: When people no longer believe in technological innovation and only believe in buying and reporting, the market becomes a huge kindergarten game field. Everyone wants to make a profit in this arena and runs away, but once they don't run away, they start crying like children and seeking supervision. This state is indeed detrimental to the long-term development of the industry, with no benefits at all. If a market loses the bottom line of "respecting rules" and "being responsible for its own profits and losses", it will be farther and farther away from the true financial highland and closer to the "gambling greenhouse". So, rather than calling it the 'giant baby era', it is more accurate to say that it is an era of complete trust bankruptcy. Everyone is seeking security in this chaotic market in the most primitive and selfish way. You can see the manifestation of this' giant infantization 'from these three characters: 1. Retail investors: from "willing to gamble and accept defeat" to "distributing according to the situation" In the past, the cryptocurrency industry emphasized "Code is Law" and "Geek Spirit", and those who lost often felt unlucky or reflected on their technology. The current phenomenon of 'giant infantilization' is manifested in the desire for a hundredfold chance for the use of local dog currency (Meme), while also avoiding the risk of returning to zero. Psychology: "If I make a profit, it's my technical genius. If I lose, it's definitely the project team who reaps the harvest. I need to report to the police, regulators, and exchanges • Essence: Refusing to take responsibility for one's own decisions and shifting the blame for losses to the external environment, this behavior of seeking "parental protection" does indeed conform to the characteristics of "giant babies". 2. Project team: From "changing the world" to "defensive harvesting" The statement from the project team, 'Anyway, if I try to sell, I'll be reported. If I go online, I'll run away,' is actually an extreme negative expression. • Mentality: Since the market no longer believes in logic and only looks at emotions, I don't need to be long-term either. Current situation: This kind of "if you think I'm a fraud anyway, then I'll show you" attitude is actually driving out good money with bad money. When the cost of doing things exceeds the risk of running away, the project team also degenerates into a "trick or treat" child, but this cost is everyone's real money. 3. Exchange: From "Judge" to "Traffic Internet Celebrity" The current situation of the exchange is also very delicate. They are no longer simply platforms for matching transactions, but more like public relations companies that extinguish fires for stability and fear of being criticized. Logic: Whoever has a loud voice and more rhythm, I will appease them. Result: This logic of 'whoever makes trouble is right' further fuels the market's speculative mentality and giant baby behavior. @heyibinance @cz_binance