Most people I know who were either eager, or at least a little bit interested in the crypto market back in 2021/2022 have now all but lost interest in the space.
Here in El Salvador, a lot of the "pay with Bitcoin" signs have been taken down at major chains like Dennys and Starbucks. Some local businesses still accept it, but they are few and far between.
Many investors are starting to wonder what is the point of remaining committed to an industry whose value has crashed, and totally flat-lined.
Of course, we have experienced similar bear markets in the past. For example, in 2015/2016 and 2018/2019.
That said, this one feels particularly prolonged, especially since the "bull-run" we had in 2024 was very anti-climatic, and we returned quickly to the trenches.
However, if you are paying close attention, you will notice that many projects continue to grind, and their networks continue to grow, despite the pitiful token prices.
Helium, for example, has increased their daily users from ~900k in Q2 2025 to 2.7 million today, even though their token price has crashed from $9 to $1 since 2024.
Meanwhile, Onocoy continues to build out their decentralized network of RTK location miners. Their revenue has been increasing an average of 35% per month since last October.
Stablecoin usage is also on the rise. More and more dollars are being minted on-chain, and stablecoin transfer volume has been increasing, especially on Solana.
These are but a few examples of real growth happening in the industry, regardless of the token prices.
It certainly feels like crypto may be a waste of time right now, but the fundamentals of many projects remain solid, and have improved throughout the bear market.
If it weren't for the continued hustling of the teams, and the increased usage of these projects, I would probably turn my attention elsewhere.
But I believe the case for a future economy based on decentralized digital currencies is still strong, thanks to so many dedicated communities.
Until next time...
If you found this article interesting, be sure to check out my other posts on crypto and finance here on the Hive blockchain. You can also follow me on X or InLeo for more frequent updates.