US stock assets are being introduced to crypto exchanges. With 'high-quality' assets, will crypto folks stop buying shitcoins? Nope. What crypto folks need isn’t 'high-quality' assets—they need fast and massive price swings, no matter the asset. It’s just that over the past year, AI-related assets happened to fit that characteristic. What the crypto space lacks right now is new narratives and new gameplay. Just like in the last bear market—could you have predicted that inscriptions and pump memes would create a wealth effect? Do either of those fit the definition of 'high-quality' assets? The introduction of RWA (real-world assets) *might* bring some variables, sparking new narratives and new gameplay. But ultimately, the wealth effect that leads the next bull market will still come from native crypto assets. Bottom-up, that’s never changed.