Recently, I discussed with some frens in the industry, and some bluntly said this might be the last bull run for the encryption industry, planning to gradually exit this field. But my view is a bit different.

I believe that encryption will always have a bull run, but the way it presents itself will undergo dramatic changes. We will no longer see the scene of altcoins frequently moving, with various concepts of meme coins bombarding the market. The future market will resemble the traditional stock market more – driven by a value system rather than pure speculative games based on air concepts.

The market will gradually move towards rationality, and investment focus will shift to projects that can truly create value, solve real problems, and connect Web2 applications. Of course, the gold dogs and altcoins will not disappear, but user expectations for these types of projects have long dropped to freezing point; their ability to contribute value and sustainability is quite limited.

This round of MEME craze clearly illustrates the point - no matter how the market FOMO or how concepts are hyped, there will never be another PEPE. Why? Because the development over the years has given the market enough time to settle. The overall improvement in user experience and understanding has rendered the method of purely relying on hype and storytelling to pump prices to high levels completely ineffective. People may stumble in the same pit, but they won't stay there forever. The market trend has already explained everything.

The future of the encryption industry lies in patching vulnerabilities and building a solid foundation. If projects still want to survive by digging pits to bury users, it is no longer possible. Only through achievable technology implementation, revolutionary innovation, truly useful products, and a sincere attitude can one stand firm in this market.

Conversely, if altcoins completely lose their bull run opportunities, the encryption industry may instead welcome a healthier stage of development.