After the emergence of Binance Alpha and the tiered listing of Binance, there is almost no longer a surge in Binance listings. Many people complain, especially VCs, that they cannot make money by listing coins on Binance. But I think this just happened to pierce through the emperor's new clothes and return to normal rational fundamentals. Look at ACT and so on, because the price of listed coins skyrocketed, the outcome is destined to be a sharp decline. The magic of cryptocurrency on Binance has dissipated, allowing the industry to return to fundamentals and face the cruel reality.