Weekend Thoughts: Why have the tech 'infrastructure coins' you bought this year all plummeted?

Because the Crypto industry made the biggest mistake: we built too many 'ghost towns' with no inhabitants.

A deep review of 'infrastructure overcapacity' and the new direction for 2026.👇

The cost of being an infrastructure fanatic, look at the current market: dozens of L2s, countless cross-chain bridges, various modular solutions. We built an eight-lane highway, but only a few electric vehicles delivering Meme takeout are driving on it. Supply (block space) far exceeds demand (real users). The result: infrastructure involution, transaction fees plummeting to zero, and the token value capture ability dropping to zero.

The valuation bubble has burst. The tens of billions of dollars valuation of many projects in 2025 is based on the assumption that 'massive applications will run on me in the future.' The reality is harsh: there are no applications. Apart from the casinos, this brand new skyscraper is empty.

New direction: renovations, attracting customers. The era of 'selling shovels' and 'building towers' is over. The future is the year of Consumer Crypto (consumer-grade applications). Stop showing me TPS data, show me how many real daily active users you have. Show me if you can make it so that even the aunties can use your APP without feeling it.

Summary: Shift your focus from grand narratives to concrete, usable products. Whoever can fill the 'ghost towns' built before 2025 will be the winner in the coming years. Focus on: PayFi, true social interaction, AI tools, providing products with real emotional value.