The rapid changes in the crypto market's hot spots mean that money flows where projects go. Currently, large sums of capital are pouring into gambling applications, centralized DeFi, enterprise-grade stablecoins, and various new banking products—these may seem innovative, but in reality, they are using short-term arbitrage to exchange for long-term decentralization commitments.

Crypto legal expert Gabriel Shapiro's recent insights are worth pondering. He points out that Ethereum is becoming a "counter-bet"—completely opposite to the mainstream VC approach. Most capital is heavily betting on centralization and efficiency, but Ethereum is stubbornly fighting for decentralization and individual sovereignty.

Interestingly, Vitalik Buterin agrees with this assessment. He says Ethereum is "doubling down" on decentralization, even if it means sacrificing short-term business efficiency. He has even publicly expressed a certain respect for Bitcoin maximalists—not because he agrees with all their claims, but because he admires their persistence in resisting corporate corruption.

Behind this divergence, there actually reflect two different paths in the crypto world: one is outward seeking—pursuing scale, profit, and mainstream recognition; the other is inward seeking—sticking to the original ideals, even if it means taking a lonelier road.