A classic example of demand and token price being completely disconnected in the last two crypto cycles: EigenLayer. @eigencloud's main business of re-staking has seen the amount of re-staked ETH consistently hitting new highs, making it one of the very few demand-driven projects in the crypto space. But looking back at its token price, EIGEN has already dropped 95% from its peak. It was only later that I realized, this industry has never been about demand-driven growth—it's all about emotion-driven, MM-driven, and whale-driven moves.