People are giving up on crypto. These levels of despair and exhaustion are usually only seen during the depths of a bear market.
The reason this "industry" is in this state is because for the average holder, the main use case of any coin became to buy and sell it for more dollars. To create a portfolio similar to company stock holdings. Holding things they don't need or use, because they have the expectation of profit.
Participants of the market are so concerned about the price going up that they became indifferent as to whether the thing they were investing in had any value at all.
They were so preoccupied with whether or not they could profit, they didn't stop to think if they should profit. For most, crypto is just numbers on a screen under different tickers.
Take a hard look at which cryptocurrencies are actually being used. Which offer utility. Which enable its users a greater degree of freedom. Which networks have the power to disrupt legacy systems. Which networks not only don't comply with regulations, but can't comply. These are the only "crypto" with staying power. The ones that will be around in 10-20-30 years from now.
The only ones that won't get tossed aside like an old toy once investors get bored.
Monero.

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