In the end, all businesses must return to the essence of commerce.

The essence of advertising is selling traffic/endorsements. The essence of blockchain does not create value. The reason BTC can maintain its rise is that the world needs something with a fixed total supply, and the halving mechanism ensures increased difficulty in subsequent mining. Therefore, BTC is a brilliantly invented thing, attempting to guarantee value through a rigid, mechanized system, combined with VC's pursuit of high ROI and the excessive issuance of currency by the U.S. government, which has led us to today.

Any product can create short-term FOMO and emotional speculation, but if it goes against the essence of commerce, it will inevitably fail to transcend cycles.