Suddenly thought of a perspective on the Great Depression: Many people think the Great Depression happened because society ran out of money, but in reality, economic depression is caused by extreme wealth disparity and poor money flow. In a situation where 3% of the population holds 97% of the wealth, any measures to stimulate consumption are futile. Why? Because the consumption capacity of the 3% is limited—they can't eat 20 meals a day or buy 10 LV bags every day. With insufficient consumption power, even if you print more money, it will either flow into the pockets of the wealthy or circulate within the banking system without generating effective consumption or investment. The rich can't consume that much, and the average person has no money to spend, leading to deflation and ultimately an economic depression, where wealth becomes even less mobile. On one hand, we have the data from the previous post—less than 50,000 retail investors can afford $10,000. On the other hand, the pre-sale for Four quickly raised $200 million, making you sigh at how rich the whales are… The phrase 'Confidence is more precious than gold' was something I saw repeatedly in my class group chat during my first year after graduation. That year, we watched as the country rolled out a series of policies to save the housing market, stock market, and consumption… Perhaps WEB3 has also entered the era where 'Confidence is more precious than gold.' The patterns of altcoin season being debunked, mainnet tokens pumping, and big gains from on-chain projects are disappearing. The old OGs who made a fortune now just hold $BTC and $ETH to win passively—they no longer participate in altcoin or meme ecosystems to reinvest. More and more smart players are shifting to defense… PLASMA CDL BTC ETH