Crypto Winter Survival Guide: Focusing on the Counter-Cyclical Value of Platform Tokens

Over the past few weeks, sentiment in the crypto market has visibly cooled, with mainstream cryptocurrencies generally weakening. "Air coins" and similar projects have seen widespread price drops, and many "altcoin stars" propped up by narratives during the bull market have quickly lost buying support, with some tokens nearing zero. Discussions are rife in the community: some believe a bear market has quietly begun, while others insist it's merely a technical adjustment within the cycle. But regardless of differing opinions, one consensus is forming—the market is beginning to reprice risk.

Against this backdrop, more and more users are beginning to think about a question: how should they participate when the market is weak, so as not to completely withdraw from the market and to steadily control the risks?

What should users do when the market weakens?

Participating in activities at low cost and allocating platform tokens are the two most pragmatic paths in a bear market.

When the market is declining, users' core demand shifts from chasing rising prices to "how to minimize losses while maintaining a sense of participation." Anyone who has experienced several bull and bear markets knows that there are two things to avoid most in a bear market: going all-in on high-risk assets to try and recoup losses, and completely cutting off contact with the market to avoid risk.

Therefore, the strategy at this stage tends to be more pragmatic: first, to participate in platform activities at low or even zero cost; and second, to choose platform tokens that have real value backing.

1. Low-cost activities: A "safe entry point" for users during a bear market.

Most trading platforms offer various reward programs, such as daily check-in bonuses, trading rebates, and holiday promotions, during bear markets. For users, these activities are extremely low-cost, involve almost no additional risk, yet provide a steady stream of small but quantifiable returns. Bear markets aren't about getting rich quick, but about avoiding being wiped out; these subsidized activities perfectly meet users' needs during periods of low volatility.

2. Why are platform tokens a more stable choice in a bear market?

Many people associate "platform tokens" with leading assets like BNB, OKB, and BGB. The reason these tokens have weathered economic cycles is because they share a common thread: platform tokens aren't just empty promises; they're deeply integrated with exchange operations, possessing practical value and real-world demand. In other words, the value of a platform token isn't written in its white paper, but rather reflected in the exchange's daily business operations.

The value of leading platform tokens has already been absorbed by the market.

Looking back at this period, the most successful examples of platform tokens are undoubtedly BNB, OKB, and BGB. These tokens have transformed from "platform auxiliary assets" to "exchange core assets" through business growth, ecosystem expansion, and buyback mechanisms.

But the reality is that their value has already been fully priced in by the market.

Judging from the price trends and market capitalization ranges, the upside potential of these leading platform tokens is no longer as significant as it was for early adopters. For most ordinary users, achieving several times the return on these platform tokens has become significantly more difficult.

Therefore, a clear trend has emerged in the market: more funds are looking for "platform coins that may explode in the next stage" rather than squeezing out the last profits from leading assets.

So, how do you judge the growth potential of the next platform coin? Most users will consider the following dimensions:

• The growth rate of the exchange;
• Platform ecosystem expansion status;
• User activity and number of new users;
• Does the platform coin truly participate in the business loop?
• Is the buyback mechanism transparent and sustainable?

Following this logic, many users turned their attention to BitMart, a platform that also belongs to the exchange camp but whose token potential has not yet been fully realized, and its core ecosystem asset, BMX.

Why is BMX attracting more user attention during this adjustment period?

Potential stems from business expansion, the use of closed-loop systems, and token mechanisms.

As the market begins to reassess asset value, discussions surrounding BMX are gradually gaining momentum within the community. This isn't driven by emotion, but rather by tangible business data, user numbers, and ecosystem changes.

Let's break down the core reasons why BMX has gained so much attention:

1. Business growth drives real demand, not just empty rhetoric.

BitMart has seen significant expansion across multiple business lines over the past year: increased spot trading pairs; growth in futures trading; continued growth in new user numbers; release of product features across multiple sectors; and expansion into multiple regional markets. According to its official first-half report, BitMart achieved a breakthrough against the backdrop of widespread pressure in the global market, with global registered users exceeding 12 million, a 20% increase quarter-over-quarter; daily average spot trading volume increased by over 120% quarter-over-quarter, maintaining its position among the top globally; and daily average futures trading volume increased by 52% quarter-over-quarter, further solidifying its leading position in the futures market.

2. BMX has a relatively complete value transmission loop.

Within BitMart's ecosystem, BMX serves practical functions: offering transaction fee discounts; qualifying users for platform activities; defining user levels and benefits; acting as a core asset for certain business operations; and implementing a revenue-based buyback and burn mechanism. This "closed-loop structure" ensures that BMX's value is tied to the platform's operational performance, rather than fluctuating with market sentiment.

3. Valuation is still in a relatively early stage.

Unlike leading platform tokens that have already seen gains of several tens of times, BMX's market capitalization, circulating supply, and ecosystem stage are all in the early stages of development. For users looking for the "next-stage platform token," this means greater potential for appreciation and a clearer risk structure.

4. Independent price movement in a weak market, resilient and stable.

During the recent market downturn, BMX did not experience a sharp drop in line with market trends; instead, it maintained a relatively stable pace. This indicates that its price is less dependent on market sentiment and more influenced by the platform's business. As the chart below shows, BMX's appreciation over the past year has far exceeded that of traditional assets and mainstream cryptocurrencies.

In summary, platform tokens represent a stable strategy between "exiting the market" and "continuing to take risks."

Overall, as the crypto market re-enters a period of adjustment, users need a way to "reduce risk without completely losing market participation."

Platform tokens happen to provide just such a position:

• It is not a crazy speculative product.
• It has a clear value anchor
• It is tied to the real business of the exchange.
• Its volatility is much lower than that of altcoins.
• It can still provide equity value in a bear market.

Considering the current market environment, leading assets such as BNB, OKB, and BGB have entered a period of "value stability," while users are more focused on assets that may see increased trading volume in the next phase. In this round of selection, BMX, due to its business support, ecosystem expansion, and value loop, is seen by more users as a potential asset worth investing in early.

For users who want to maintain participation under low-risk conditions, platform tokens like BMX, which have clear fundamentals, may be one of the safest and most pragmatic choices at this stage.