Market leaders, after undergoing a round of volatility tests, often possess a competitiveness that ordinary coins find difficult to replicate. Where does this advantage come from?

The most core point: leading coins have a second life.

Major institutional funds participating in top coins on a large scale, once they complete the first wave of gains, their "star status" in the trading ecosystem is thoroughly established. This not only signifies ample liquidity but also indicates that the market has a shared expectation.

Why is this the case? Let's break it down—

**Major Player Memory Effect and Rebound Momentum**. When top coins adjust from high levels, a large amount of capital that has previously participated in or paid attention to them does not truly exit. They are just waiting. Once market sentiment warms up and related hot spots reignite, these funds instinctively recall this coin first, organizing a strong rebound, and even triggering a second wave of market movement. This reflexive influx of funds is precisely the confidence behind the repeated strength of leading coins.

**Liquidity Moat**. When the market lacks new directions and investors are generally confused, the old leading coins become a "safe haven" for short-term funds. Why? Because their trading activity has been fully activated, entry and exit are convenient, and everyone understands their story logic. This broad market consensus itself forms a layer of safety cushion.

**Stage for Main Players to Exit**. For institutions holding large amounts of chips, the "second life" of top coins creates a more relaxed opportunity to exit. They can utilize rebound trends to craft "double tops" or multi-layered complex tops, completing chip distribution at higher prices and reducing the risk of liquidation.

This is why the market always cycles back to those leading coins—they not only have stronger vitality but also provide the best trading ecosystem for all participants.