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【Noblesse Oblige CryptoDiary 5】The Reversal of Healthiness and Unhealthiness in the Cryptocurrency Industry: What Constitutes True Healthiness?


First, take a look at the cryptocurrencies circulating in the market today. Do you think what you see is normal? If it appears that way, you are mistaken. It's not uncommon for new and obscure currencies to be listed on various centralized exchanges (CEXs) simultaneously, or to raise massive amounts of funds right from the start, ensuring high liquidity and daily trading volume. Observing these new issues, it becomes evident that most of them are following a predetermined path.


Many currencies that gain immediate fame through advertisements upon issuance could be part of schemes or might be cryptocurrencies used as a front by large corporations with dubious activities. The reality is, it's impossible for a new cryptocurrency to get listed on numerous CEXs from the outset. Those that manage to do so likely have previous experience or are involved in similar schemes with other currencies. As a result, discussions often flow smoothly due to past experiences.


Whether these entities are legitimate companies or part of fraudulent schemes can often be seen from the ultimate fate of the currencies. About 99.9% of cryptocurrencies eventually face rug pulls or scams. This means that if a currency shows impossible numbers or raises an enormous amount of funds right from the start, or exhibits expert-level behavior at launch, it likely involves significant inflation of its figures.


Trust the real-world phenomena you have experienced in your daily life. This understanding should help you recognize the exaggeration and inflated evaluations of such projects. For instance, major CEXs like KuCoin, Bybit, and Binance require hundreds of millions of yen for listings.


A new currency cannot simply get listed on such exchanges with such substantial funds and credibility right away. In reality, such opportunities don't even arise unless there's a previous relationship or track record. It’s possible that these listings are part of a promotional strategy for the crypto industry, orchestrated by those who have the know-how. This means that many of these are predetermined, or “cheat” currencies. Even popular currencies like SHIB or PEPE likely follow a predetermined path. It’s improbable for something to succeed so smoothly.


Once a currency catches public attention, simultaneous listings on dozens of CEXs are unlikely for ordinary people. The mental strain and challenges of listing on just one CEX for the first time, including language, cultural differences, and misunderstandings, are significant. Exaggerated entities, however, do not face such issues, indicating that they are “cheat” currencies.


Consider your first attempts at sports, a new job, or a new hobby. What usually happens at the beginning? You don’t even know what to do, unfamiliar terms, no knowledge of famous figures in that field, and everything feels new. This is a state of "not knowing," which leads to trial and error and gradual growth. This is essentially Level 1. However, cheat currencies that rapidly gain attention seem to start at Level 90, as if they are already capable of defeating final bosses in a game.


This is due to cheating, meaning these are established entities or promotional currencies with a history of other activities. Do not take such things as normal. They are anomalies. Based on real-world experiences, the absence of metrics such as volume, liquidity, holder count, evaluations, followers, and popularity at the start is a sign of health. If these figures are inflated from the beginning, it’s abnormal.


Therefore, a currency that is unnoticed at launch and starts with no hype is the one with a normal and healthy stance. However, the world’s evaluations are the opposite, favoring the unhealthy and disregarding the healthy, leading people to be misled and confused about the true state of affairs. This is similar to political situations as well. Hence, do not be deceived into thinking that such abnormal situations are normal.








 
 
 

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