I’ve recently noticed how pessimistic the mood has become among crypto investors. It’s no longer just about the secondary markets—pessimism has now also spread to the VC community and the primary markets.

Some interesting developments are happening right now: Kyle Samani from Multicoin Capital has announced his withdrawal, which I think is a pretty strong signal. At the same time, you hear from Arthur, the CEO of DeFiance, that he’s become quite skeptical about the entire crypto-VC model—he’s now focusing more on companies with solid cash flow.

What I’m particularly interested in: Simon Dedic from Moonrock Capital has reported that many large VCs and industry insiders either doubt a market recovery or have simply redirected their funds into KI and Web2. This shows how pessimistic the overall sentiment actually is.

The question now is whether this pessimism is justified, or whether we’re simply seeing a consolidation phase. In any case, it’s worth keeping an eye on the moves of these major players—they are often a good indicator of what’s coming. If you’re interested in how the different sectors are developing, you can also take a look at Gate and analyze the charts.