The anticipated Web2 influx into Web3 didn’t happen. U.S. stocks and precious metals are sucking the blood out of Web3. And it’s not just sucking, it’s outright draining. Last night on Binance, BTC futures trading volume was $9.2B, while gold and silver futures trading volume accounted for a quarter of BTC futures trading volume. This is the real crypto winter. The biggest obstacle to the development of the crypto space is the crypto space itself.