"The Gambler's Exit Is the Beginning of the Crypto Golden Age"

More and more people are leaving crypto now, which is actually very normal. Because originally, 90% of the people attracted by crypto were "gamblers," and when the casino's odds aren't high enough or it's not fun enough, while the neighboring casino is bustling with noise, their choice to leave is simply natural.
People who are still hesitating now need to consider: after crypto strips away more than 90% of "pure narrative" projects, does it still have its genuine and unique value? I definitely believe it does; here are a few examples:
1. BTC: Digital Gold
2. Tether/Circle: Stablecoins
3. ETH: On-chain Settlement Layer
4. Hype: On-chain Perpetual Contract Infrastructure
5. Uniswap: On-chain Spot Infrastructure
6. AAVE/Morpho: On-chain Lending Infrastructure
7. Link: On-chain Data Infrastructure
8. Polymarket: On-chain Prediction Market Infrastructure
9. Ldo: On-chain Staking Infrastructure
10. Sky: On-chain USD Asset Platform
11. Pendle: On-chain Interest Rate Market Infrastructure
12. Pump: On-chain Attention Asset Issuance Platform
13. Ondo: On-chain RWA Distribution Infrastructure
14. Canton: On-chain Institutional Settlement Network
If you say that on-chain itself is meaningless, then you can research the on-chain projects of DTCC, Nasdaq, and look into the Wall Street investors behind projects like Polymarket, Canton, Circle, and others.
Currently, AI is indeed dazzling, making crypto less attractive by comparison. But we can look at the positions of crypto and AI through Carlota Perez's theory of technological revolution cycles.
Carlota Perez believes that technological revolutions generally go through the following stages:
1. Eruption (Irruption): New technology emerges, entrepreneurs and early capital flood in, old industries are disrupted
2. Frenzy: Speculation, valuation bubbles, infrastructure overbuilding, winner-takes-all
3. Turning Point: Bubble bursts, crises, regulation and institutional restructuring
4. Synergy: Technology enters mainstream industrial processes, standards, regulation, and organizational methods mature. Production capital dominates, and a "golden age" may emerge
5. Maturity: Marginal growth declines, markets consolidate, the seeds of the next revolution appear
It’s clear that current crypto is at a transition stage moving from the turning point to synergy, while AI is still in the frenzy stage. If we abandon crypto now and fully embrace AI, we might miss the crypto golden age and head straight into an AI bubble burst.
In the coming months, we may have the opportunity to witness a historic bottom in the crypto market. Many of the projects I listed above could become very cheap. If you haven't completely lost faith in crypto yet, I sincerely recommend seizing this valuable opportunity (probably the last chance for retail investors in this industry), carefully building your bottom-fishing list, and then enjoying the upcoming crypto golden age.