It's not that "everything is dead" in crypto. It's that the easy money from narratives has died. Now the market no longer pays hype, it pays real flow, product, and survival. The illusion has compressed, it hasn't disappeared.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.