2026-01-16 10:51:50

Back in 2021, riding the bullrun felt almost effortless for most participants. One key reason often overlooked—the total token supply in circulation was significantly lower back then. Fewer projects flooding the market meant less fragmentation of capital and attention. This scarcity element, combined with the natural momentum of the cycle, made it easier to catch big moves across assets. Today's market landscape is completely different, with thousands of tokens competing for the same liquidity pools. Understanding this supply dynamics shift is crucial when analyzing why certain bullruns feel different from the last cycle.

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BearMarketSurvivor

· 6h ago

I didn't make much money in that wave of 2021; instead, I lost a lot of positions. The main reason was that I was too greedy and didn't manage risk properly. Looking back, supply indeed is the key, but what's even more painful is... most people haven't learned how to control losses at all.

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SatoshiChallenger

· 6h ago

Data shows that the circulating supply was indeed low in 2021, but ironically, that was also when all the junk coins were around—just forgotten now. --- Interesting. According to this logic, having more tokens now is actually a bad thing? So why isn't anyone talking about the death rate of projects from 2021? --- Objectively speaking, low supply ≠ necessarily rising. Isn't this a classic case of survivor bias? --- Come on, let's compare the number of projects liquidated at the end of 2021 with now, and then talk about this "scarcity" theory. --- Ironically, liquidity fragmentation has actually made the market healthier. At least, scammers can't scam as many people anymore. --- Making easy money in 2021 was only possible because no one really understood what they were doing. Now at least some people are looking at charts.

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SelfStaking

· 6h ago

The supply in 2021 was indeed highly impactful, and now there are so many tokens that it's overwhelming.

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MerkleDreamer

· 6h ago

2021 was really a free win, now it's all tangled up like a twisted doughnut.

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APY追逐者

· 6h ago

The wave in 2021 really made money easily, now you have to be very selective. --- The point about supply is correct, but I feel there are other factors as well. --- Garbage coins flooding the market... liquidity dilution is a mess. --- So now you need to find projects that truly have scarcity. --- Agreed, the competition is too fierce, the difficulty doubles. --- That's why the logic of making easy money in 2021 was so straightforward. --- There are too many new tokens, which really distracts attention and is exhausting. --- The core issue is the supply problem, got it. --- It feels like doing homework now is much more than in 2021.

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DataBartender

· 6h ago

The wave in 2021 was really a free win; now you have to rely on your eyesight and judgment.

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RugPullAlertBot

· 7h ago

The wave in 2021 was really a free win, now it's all about intense competition.

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