After the NYC token project was launched, it experienced a large-scale liquidity withdrawal in a short period, with a total withdrawal amount of $3.4 million. Once such an event is exposed, it often triggers a chain reaction—investor confidence collapses, and panic selling ensues. In reality, it is difficult for a buyer to step in under these circumstances. What does liquidity exhaustion fundamentally mean? Difficulties in finding trading counterparts, huge slippage, and in the worst case, being directly trapped. Such emergencies often make headlines in the industry, further exacerbating negative market sentiment. For traders interested in participating in this project, this has become a clear risk signal—the health of bottom liquidity determines the overall quality of the trading experience.