Looks like the next crypto cycle has no narrative Spent some time looking at crypto funding info from the past few months Basically, it's all about non-tokenized crypto service products We used to have NFTs, DeFi, layer2 Even during the bear market phase Institutions were actively investing and positioning for the next big trend Now, that's all gone What does this mean? Content creators will just keep recycling old topics Massive airdrop wealth events will become increasingly rare Institutional and speculative funds will focus their firepower on mainstream coins The broad altcoin rally will be harder to achieve Even meme coin trends will struggle to sustain A year ago, when the market wasn’t as pessimistic We didn’t even see a $500M-level meme coin emerge In the future, even a $100M-level meme coin might be a luxury You can still make money, but the profit potential might only be a tenth of what it used to be Think about it—if this is the state of things moving forward What will you do???