I strongly agree after reading this post. Although many people have viewed the crypto industry as a purely speculative "industry" driven by emotions and liquidity, in the eyes of us veteran holders, it is still a social "movement" that reshapes trust and value. 1) The borderless value transfer network is the biggest foundation of Crypto. Although this fundamental infrastructure has always been seen as a "money laundering" or "grey industry", the crypto industry has proven its value as a neutral, tamper proof decentralized network through over a decade of brutal survival and expansion paths. Especially in today's increasingly complex world of anti globalization and geopolitics, the free and censorship resistant circulation of currency and assets has become an implicit necessity. From the perspective of conspiracy arguments, Crypto has once again become an alternative channel for Americanizing bonds to strengthen the dominance of the US dollar. No matter how we look at this value transmission network, its foundation is becoming increasingly stable; 2) Innovative finance such as stablecoins and DeFi are merging and even taking over traditional finance. Setting aside the Ponzi attributes of DeFi hype nesting dolls and high APY in the previous cycle, smart contracts are gradually releasing value through the accumulation of funds and composability cooperation between protocols. Stablecoins are embedded in real commercial settlement networks such as cross-border trade and PayFi, while the new paradigm of RWA infrastructure allows traditional heavy assets such as US bonds and precious metals to be seamlessly put on the chain. Essentially, it is a trustless and purely code driven open ledger that efficiently reduces dimensionality and strikes against traditional cumbersome intermediaries and compliance frictions, becoming a new choice for underlying infrastructure that the real economy and business cannot refuse; 3) Through the alternation and refinement of bull and bear cycles, the cryptocurrency industry has strong anti fragility capabilities. At first, people said that the cryptocurrency industry was just a geek's utopian experiment, but now, with spot ETFs such as BTC and ETH opening up the mainstream capital pipeline on Wall Street, Crypto is penetrating into the US stock market and becoming a part of its innovation frontier. In addition, under countless times of exchange thunder, public chain downtime and severe regulatory encirclement, Crypto has always been dying. Every time the foam bursts in the deep bear cycle, the underlying hard core facilities are iterating crazily, and only waiting for a quietly coming narrative innovation, everything will come back again. Note: Many people below this post don't understand why the author says that cryptocurrency is a movement that takes priority over an industry? My understanding: If you consider it as an "industry", it may not be as sexy as AI, very immature, or even chaotic. However, as a "movement", it advocates decentralization, privacy, open ledger, and many other unique needs that cannot be replaced!