With the sharp decline of KOGE and ZKJ, is Binance Alpha completely cool? I have a three wave theory about pseudo innovation, which only applies to pseudo innovation. True innovation can support asset prices if users have profits: The first wave, the gameplay just came out, the iQ50 and iQ100 are obviously not understood, and the iQ150 is half understood, so everyone rushes to enter. The window period for entry is long, and the profit effect of entering the field is high. Just like the first wave of NFT, bayc； Like the first wave of AI, such as goat, ai16z, etc I have already played the second wave once, but I didn't understand the iQ50 version. There are still some iQ10 versions that I didn't understand, but I completely understood the iQ150 version. Therefore, the iQ150 version will have a large position to rush, leaving less room for others, reducing the profit effect, and shortening the entry window period. For example, in mid-2021, the second wave of DeFi Summer, or the wave of pledging again In the third wave, except for iQ50, I have basically understood everything else. The market is already PVP, and iQ50 is basically fuel, fast in and fast out. Poor profitability effect. Like the memes from the past three months. Binance Alpha should belong to the fifth wave, in the words of Teacher 911, even dogs don't play But Binance is still playing...