Since the BTC ETFs crypto has been somewhat stifled. Previously it was about building apps and giving people freedom, creating cool decentralized stuff that isn't controlled by the government, saving off the grid away from the prying eyes of the public and people saving money without needing to do KYC.
I saw a lot of cool stuffs being built and people enjoying the proof of usage that came with crypto.
However over the years scammers have found their way into crypto and imagine one of those scammers being Donald Trump with the crazy launch of that coin he did with his wife and pulling millions of dollars of retail fund into a pump and dump without a proper project backing it up.
I must also admit that the present day crypto generation may not really care about crypto usage, just pump and dump and many of them has been dumped on and have lost a lot of money in the process.
When you talk about alt project in this present cycle you and not mention the scam that's happened throughout the cycle, people have been burned and lost a lot of money to scammers invading the cycle.
We had many protocols promising users ROI for depositing their funds and a lot of these protocols rugged and scammed users of millions in dollars.
So it's safe to say that 90% of those projects were scams, over 70% has shut down and made away with users money and the 20% still functioning are probably on the brink of collapse as well.
So is it that real builders are no longer in the space, or has every project we need been made already, or do we have more scammers than builders in the space?
I think we have more scammers now, and even the projects that are legit and still standing, over 50% are probably not going to make it to 2028.
Also we probably have enough DEX now, enough perps and RWA project and we probably don't need more. projects like Hyperliquid and Aster have probably taken over the DEX industry and anyone think of building a DEX again will no longer survive.
This might signal that crypto does not need more copy cats projects, it needs new innovative and ground breaking tech that sells itself, but then it looks like real users creators and builders are no longer as creative.
This probably means that money will not flow into these current projects from BTC and all that. Infact money is flowing out of these projects into BTC and the BTC ETF making the general crypto market stagnated and all that.
The BTC ETFS themselves provides safer way to invest in BTC without actually having to put money into BTC, this means that people are now getting smoother choices to throw their money in BTC and this takes away the interest of investors and users from the deeper crypto project market, sad but this is the reality of things.
Creators and builders has to get creative again, at the moment it looks like people aren't as interested in usable projects anymore, just money and stability. It screams concern, and means an inevitable gallop of BTC price into hundreds of thousands of dollars, but we won't give up though.
Projects like Hive, I guess we'd keep adapting and growing and trying to attract users, builders and more attention to the chain, it's definitely not going to be easy because the odds are now against us. The aim should be adapt, continue shipping and bettering the system, forking it and surviving hard times like this.
