Crypto crashed, but that doesn’t mean it’s dead. The dot-com stocks crashed in 2000 and 2001, but that didn’t mean the Internet was over.
That being said, there’s a fundamental difference between dot-com stocks and cryptocurrencies. With the dot-coms, there’s a clear bright line between the stocks and the services. You could invest in Yahoo without using it as your search engine. Or you could use it as your search engine, without ever trading the stock. With crypto, it’s extremely hard to make this distinction. How much interest is there in “using” crypto or Web3 apps if there’s no money to be made?
Source: Five Things You Need to Know to Start Your Day (Joe Weisenthal)- Bloomberg