Many recent IEOs have never even been known to any community. Absolute random shady coins.

As it seems, exchanges loudly yelled "fuck it" and stopped pretending to do project due diligence.

They see there is no correlation between value & price, so users just want to long or short as well.

It's not news, this was the case before, but bear market amplifies the hopelessness of people.

Exchanges slam marketmakers onto random lowcaps and have people gamble. But it's fine!

Up until there is cash flow from projects assuming adoption, all of the partnerships matter none and are no better than just gambling.

Right now: a shitcoin with a marketmaker > a coin with legit use cases. Because of the cashflow shortage, either from usage or community belief.

If you want to see value and fundamentals play out, you need to stay through the washout.