PANews reported on April 15 that Arthur, founder and chief investment officer of DeFiance Capital, wrote on the X platform that the biggest problem currently plaguing the liquid cryptocurrency market is how projects and market makers work together to create artificial prices that can be maintained for a long time, and this process is completely in a black box state. You can't tell whether the price is determined by the real supply and demand relationship, or simply because the project and the market maker collude to manipulate the price to achieve other goals. What is incredible is that centralized exchanges (CEX) have completely turned a blind eye to this, and the altcoin market is increasingly becoming a "lemon market" with a lack of confidence. Not to mention that the pricing of most token initial offerings (TGEs) this year is simply a joke. They fell 70% to 90% within a few months of listing, and anyone who bought in suffered huge losses. If the major players in the industry do not step up to improve this situation, most of the market will still be unable to attract investment in the foreseeable future.