Each market cycle seems to be unique, but this one might really be different. Think of it this way — the crypto market is evolving to become more like the traditional stock market. This is a new era. Market participants are becoming more mature, trading depth and liquidity are increasing, and ecosystem projects are accumulating real-world applications. The development of cross-chain ecosystems like Cosmos further reflects the industry's overall evolution. The era of wild growth in the past is now a thing of the past; we are now in a time of professionalism and institutionalization.