Hey everyone,
Not sure if it’s just me, but the crypto space feels different this year.
Back in the 2021–2022 cycle, the vibe was all about DeFi experiments, NFT hype, insane memecoins, and everyone aping into stuff with zero due diligence 😂. Now in 2025, it feels like we’ve entered a more serious — maybe more mature? — phase.
You’ve got governments actually building regulatory frameworks (shoutout to MiCA and whatever the U.S. is trying to do), ETFs launching left and right, and TradFi giants like BlackRock and Fidelity going full-on crypto mode. At the same time, a lot of retail seems… quieter. Less hype, more lurking. Builders are still building, but the loud speculation culture has toned down.
So I’m wondering:
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Is this the “institutionalization” of crypto we all saw coming?
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Are we trading innovation for stability?
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Or is this just the calm before the next storm?
Also curious how you all feel about the soul of crypto — does it still feel decentralized, open, and revolutionary? Or more like we’re slowly merging with the very system we set out to disrupt?
Would love to hear different takes — whether you’re bullish, skeptical, building, or just here for the vibes.
Great post — and yeah, you’re definitely not alone in feeling the shift.
It really does feel like the energy has matured. In 2021–2022, the space felt like a chaotic festival: exciting, unpredictable, and sometimes totally reckless. Now? It’s like we’ve entered the corporate conference phase 😅 — more suits, more structure, and a lot less YOLO.
The institutional wave was inevitable, I think. Big players don’t ignore trillion-dollar markets forever. But with that comes a shift in culture — less about ideals, more about compliance and risk management. Not necessarily bad, but definitely different from the cypherpunk roots.
That said, I don’t think the soul of crypto is dead — it’s just evolving. DeFi devs are still pushing boundaries. Privacy projects haven’t gone anywhere. And L2s are making Ethereum feel usable again. Maybe we’re in a consolidation phase — like the internet in the early 2000s. The wild stuff gave way to infrastructure, and that’s what enabled the next boom.
So yeah, maybe it’s calm before the storm. Or maybe it’s just a new kind of storm — one that comes with SEC filings and shareholder meetings 😂
Still here. Still stacking. Still hopeful.
