A recent article has gone viral in the community, with a heart-wrenching title: "The Fourth Halving bull run is surprisingly the grave for retail investors." One sentence hits the nail on the head - "The most brutal logic of this round is systematically 'punishing diamond hands.'"

It's really heartbreaking to think about. A9 held onto a certain popular coin at a high position, and in the end, the drop was as high as 10 times; while mainstream coins soared alone, those small coins instead fell below the bottom of the last bear market. All of this is telling us: the rules of the game have changed.

In the past, it was "holding is victory," now it has changed to "liquidity is life." The "patience" that retail investors have painstakingly accumulated is being gradually eroded by drying liquidity and the clever games of institutional funds. Those trapped in coins with depleted liquidity seem to have evaporated silently.

In this "de-retailization" cleansing, what is the real survival strategy?

I noticed an interesting phenomenon: smart money has not completely left after escaping the deep pit of altcoins, but has quietly shifted its position. They are no longer chasing the illusory myth of hundredfold returns, but instead are starting to look for something new—a combination that offers certainty, liquidity, and stable returns.

This new option is precisely what the ecosystem represented by over-collateralized stablecoins provides. Taking a leading stablecoin as an example, its core value lies in: your assets are stored in a decentralized, fully collateralized value anchor, so you don't have to worry about losing your money in a liquidity-scarce currency; at the same time, you can participate in the yield strategies within the ecosystem, allowing your assets to continuously generate cash flow even during bear markets or periods of volatility, rather than passively waiting for a recovery.

More importantly, this type of stablecoin ecosystem is building a complete financial infrastructure. From lending protocols and liquidity mining to derivatives trading, each link creates new sources of income for holders. This is not about betting on the future of a coin, but participating in the cash flow distribution of the entire ecosystem.

Looking at it from a different angle, this is like shifting from chasing the surge of a single stock to holding the dividends of a quality company. The returns are more stable, the risks are more controllable, and one can maintain composure amidst market fluctuations. For retail investors who have had their willpower worn down in this bull run, this is certainly a direction worth considering.