Author: haotian
If you want to continue making a living in the crypto industry, you must understand these principles:
1) Looking back at the previous cycles, the crypto industry has almost always been on the verge of death before it can be reborn. It is common for it to plummet by 90%, 80%, or 70% before taking off again. High volatility is indeed the foundation of the industry, but don't forget that it also has extremely strong resilience and can't die.
2) CEX exchanges have never been the saviors of the crypto industry; in some ways, they don't even belong to the crypto industry. The practice of "taking a cut" from trading platforms is perpetual, regardless of whether the platform trades mainstream cryptocurrencies, MEME coins, US stock futures, crude oil, or precious metals.
3) On-chain narrative innovation: While there have indeed been numerous "scams" in VC projects during this round, what will ultimately pull the crypto industry out of its slump will be a series of grand narratives. Just like DeFi in 2020, NFTs in 2022, inscriptions in 2023, and agents in 2024, the sustainability and depth of the narrative determine the thickness of the bull market and the difficulty of post-bubble reconstruction. A crypto industry without "innovative narratives" simply cannot survive.
4) Twitter is flooded with a plethora of voices—some folly-driven, some sharp and critical, some confrontational—all ultimately manifestations of a poor secondary market. Just take a look and enjoy the spectacle. If the crypto industry truly collapses, no one will be immune. Again, to all you great "US stock traders," please remember the path you've traveled.
5) Some of the vested interests or early beneficiaries have retired into seclusion, some have retreated to the background to commit evil, and some are still stubbornly persisting in preaching. This is not terrible. What is more terrible is that most of them have chosen to "remain silent." The price of silence will definitely be the continued fermentation of "bad money driving out good," and the destruction of the "consensus" brought to the industry is the most fatal.
