Despite all of the drama with FTX:
-Apple pay added USDC support
providing an easy on-ramp for 500mil+
-Gaming juggernauts like Riot games are building in web 3.
-Billion dollar brands are incoming to the space.
Crypto is here to stay.
Despite so many good news that have come to the crypto but none of these news were creating the hype. The bad news were still dominating the crypto market. I think that the latest news came from the genesis has been ruining the crypto market again, lending platform keeps halting user's money. This may make people starting to distrust the crypto market. I thought that if the trust will not come easily to the crypto market again. The bad news has been dominating everything.
Bitcoin is not so strong to handle it. It's not easy to attract the billions dollars that have been going away from the cryptocurrency.
Hype is no longer the driving force so to speak, investors are more focus on utility based projects than just the usual hype without anything to show for it.
The mood of investors is down in this period so any good news produce by any project will not receive the right impact because of market sentiment. This is the type for the real projects to build and develop, instead of trying to create irrelevant hype that will not help the project technically.
Whether there is bad news or not, real projects will always have the support of the investors, despite what happen with luna and now ftx exchange, the crypto community will keep holding up, it is sad but there will always be a light at the end of the tunnel.