The encryption field is undergoing unprecedented changes, with the number of projects experiencing explosive growth. From public chain infrastructure to Decentralized Finance, NFT, and the tokenization of physical assets, various tracks are thriving, and the pace of innovation is astonishing. However, this rapid expansion has also brought numerous challenges.

There are a large number of projects of varying quality in the market, among which there are cases of flawed token economic model designs and teams that operate with insufficient transparency. What is even more worrying is that some projects lack practical application scenarios and completely rely on speculative sentiment to drive price increases, which carries significant risks.

Nevertheless, high-quality projects in the industry are attracting the attention of institutional investors through technological innovation and compliance efforts. These projects focus on addressing cross-chain interoperability issues, promoting the on-chain of real economy assets, and strengthening security audits in key areas.

Overall, the ecosystem of encryption projects is entering a new stage of survival of the fittest. The market is gradually breaking away from purely speculative drives and is shifting towards a more rational assessment that focuses on actual value and long-term development potential. This transformation indicates that the entire industry is maturing, laying the foundation for sustainable development in the future.