Recently, ETH has risen a lot.



Some familiar addresses are buying, and some old friends are tweeting again, saying this is the beginning of a new round. Many people are excited, saying institutions have finally arrived, and we have finally waited for this. During the morning meeting, everyone is discussing changing market makers, how high the next peak can reach, and how much someone bought again.

I can't say anything, I'm very dazed.

Most of my friends working on projects are still having a tough time, unable to find new users or raise funds; the VCs I know are also quite anxious, having burned through most of their last round of funds, and haven't seen any sign of LPs for the new round.

Looking at the price of ETH, I feel that this bull market has nothing to do with us and is not coming for us, just like the recent BTC incident.

The hardest part is that the sense of "expectation" has disappeared.

Perhaps more and more people will really use it, but it seems that it really has no more "meaning" and "value."

There is a saying that I actually heard a long time ago, but only recently truly understood: Crypto is a transformation of the relations of production, rather than a revolution in productive forces. A revolution in productive forces can bring about a new era, while the improvement of relations of production is more of a supporting role.

Some people also say that Crypto will be increasingly needed. Indeed, various stocks are being put on the blockchain, and various financial institutions are looking for opportunities to use blockchain. Some see it as a political tool, and many who previously looked down on this area are now trying to find ways to apply for licenses to issue RWA.

Being needed does not mean being valued; the entire system is not designed around you, it only utilizes you at special moments.

If this bull market cannot bring new creations, cannot make developers' lives better, and cannot help products survive, then what does it count as a bull market? If everyone is just doing off-chain things on-chain, then what have we been persisting in these past few years?

I don't know if this industry will eventually improve, I only know that it is being used better and better, but it is also becoming less and less like the thing we used to believe in.

But maybe this is also a good thing for the industry, I don't know.

Let's go to G'DAY for drinks in the afternoon. Don't let emo hold you back; you still need to embrace change and continue to live passionately.
ETH4.78%
VC1.1%
BTC0.71%
RWA2.04%
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