Nowadays, people's pessimism about the crypto world is spreading from the bottom up, permeating every link, and is also impacted by more sensational stories happening in other capital markets.

Just now, I realized that I need to register to claim the airdrop after buying nearly 10,000 U worth of Espresso NFT. Equity-based NFTs do not give you the opportunity to claim benefits; even if you do get them, it's just a reverse pump. At least give people a chance to claim benefits, right? But no.
There are fewer and fewer new projects. This year, besides perpdex, the only new project I saw was prediction markets. Participating in new projects has become less meaningful; now we just wait for the alpha to go live and bet on the size. The so-called valuation anchors, fundamentals, and funding amounts—metrics that used to be used to judge new coins—are all failing.
Talent is fleeing to AI. Those who haven't yet escaped to the AI industry might also be feeling anxious right now.
Public dissatisfaction and suspicion towards exchanges are rampant. Without industry leaders to guide new directions, many believe that all FUD comes from paid trolls and shills. They talk about industry progress but are actually playing the same game.
It's still a horse, but compared to others' horses, like Zhituo GLM's Pony, I do feel anxious and powerless.