Innovation technology is useless, brainlessly All in Meme, will the value system of this round of encryption Bull Market collapse?

Author: Haotian

Although this round of Crypto Bull Market is in full swing, looking at the distorted values of ‘innovation useless’ in the Primary Market and ‘MEME everything’ in the Secondary Market, I have a feeling of ‘the darkest moment.’ Why?

1. Originally immersed in the industry’s big and small events all day, afraid of missing any technological innovation, but in the past two months, under the influence of the sentiment in the bear market, there have been few updates, new narrative hotspots, and other things that can make people excited about the project party.

Maybe it’s a lack of real innovation, or maybe it’s just the repetitive narrative that makes people numb, or maybe it’s the disconnection of the first and second-tier markets that makes people feel nothing. In short, recently, being in the crypto industry, I feel powerless to talk about some valuable things such as technology, narrative, and business.

Nevertheless, you still have to demand yourself to stay alert, keep following the hot topics and technology, exchange technical insights with frontline developers, have meetings, and communicate deeply with the founders of some project parties, etc. Doing so can not only avoid the troubles of the Secondary Market, but more importantly, it can vividly touch the innovation ‘vitality’ flowing in the industry base.

Of course, in the eyes of some people, all this is ultimately about issuing coins ‘Be Played for Suckers’. Well, I can’t refute this statement, but it must be even more uncomfortable to have no dreams and just be a salted fish.

2. The arguments of ‘high FDV’, ‘VC accumulation’, ‘no dumb buying’, and ‘Meme everything’ have become the main theme in the crypto world. To be honest, from the perspective of pure Cryptocurrency Speculation, all Virtual Money is essentially a Meme, just wrapped in the narrative of VC coins, which makes it easier to find value in the long run. On the other hand, pure Meme coins without fancy packaging are simply driven by the emotions of either rising or falling, making it easier to create wealth stories in the short term.

I don’t judge the right and wrong of the two paths, I can only say that in any investment market, there are two groups of people with completely different long and short cycle concepts. Choosing VC coin means enduring the slow rise, choosing MEME coin means enduring the risk of going all in and losing everything. There’s no need to curse each other, it’s just different paths.

Fortunately, most of the builders I know can stick to their beliefs in the current MEME frenzy. After all, for developers, the choice between the ETH ecosystem, the TON ecosystem, the Solana ecosystem, or even the unaffordable Cosmos ecosystem carries uncertain costs, risks, and potential rewards. This process is painful but accumulative, unlike MEME, where once gambling gets out of control, a single reckless bet could lead to irreparable consequences.

3. Objectively speaking, both BTC and ETH Spot ETFs have passed, and even a former politician like Trump, who once looked down upon Crypto, has issued a cry for the United States to become a superpower in BTC. The overall industry’s capital, talent, projects, etc. have reached an unprecedented stage of prosperity.

As long as you don’t get too indulged in the trading itself and get carried away by the market’s ups and downs, to be honest, I can’t find any negative reasons for the current industry. Generally speaking, the crypto industry is gradually breaking away from the niche feeling of the past few cycles and integrating rapidly with web2 as a major industry of web3.

Developers entered long during this process, the narrative became long, the project Token became long, the gameplay and options also became long, the value of the project became long, and eyewash increased as well. This situation has led to a slower rise in wealth for BCD holders, an increased risk of frequent trading, and it has become increasingly difficult to get rich through cryptocurrency speculation. Especially using past experiences of cryptocurrency speculation to deal with the current environment is becoming less effective.

On the negative side, everyone’s early gains from Cryptocurrency Speculation are disappearing, but on the positive side, the web3 industry is becoming more inward-looking and mature.

This is a process that every industry will inevitably go through in its growth. For developers, they have to face the fierce competition and reshuffling brought by industry competition. For individual investors, they still need to strengthen their learning to find longer opportunities. In this process, entrepreneurship will become more difficult, investment will become more difficult, and making money will also become more difficult.

Absolutely cannot be confused with the value system to think that the industry is not good, and return to the so-called nature of the casino. At least for most people, this is not the original intention of joining the Crypto industry.