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What’s happening right now does feel like crypto going through a brutal correction.
Think about it:
→ Max euphoria
→ Shortcuts get exposed
→ The ecosystem gets a reality check
→ People go back to fundamentals
What happens after?
Well, if history tells us anything, people called these dead too:
- DeFi TVL: $55B (2022) → $270B (2025)
- Stablecoin market cap: ~$120B (2023) → record $251.7B (2025)
- Tokenized Treasuries: $1.3B (2024) → $13.8B (2026)
- DEX market share: 6.0% (2021) → 21.2% (2025)
I know we're hurting rn, but I think this is where the teams with real products start to stand out.
IMO, this is just the beginning.