When the top-tier project's valuation contracts, the spillover effect reshapes the entire market landscape. Capital that once concentrated at the summit gets redistributed downward—but here's the catch: as money hunts for returns elsewhere, the ceiling for second, third, and fourth-ranked projects doesn't rise. Instead, it gets pressured lower. This creates a peculiar dynamic where mid-tier projects get squeezed between reduced inflows and heightened competition. The lesson? In crypto markets, when leaders stumble, the entire competitive hierarchy recalibrates. Everyone feels the squeeze.