I agree the space is a cesspool of speculation. However, you can’t blame investors when the most used and profitable projects (think Opensea, pump.fun, Polymarket) don’t have tokens and the devs keep the wealth.

Further, there is no such thing as a somewhat fair launch anymore. Given the choices we have as investors, fundamentals matter little and hype dictates prices.

I’m hoping regulations come in and more decent people come into the industry. Right now, it’s a money grab and 99.5% of teams/projects claiming otherwise aren’t being honest.

In 20 years I wouldn’t be surprised if crypto is like the Internet today where a handful of monopolies control the entire space. Bitcoin is probably the only long-term hold worth considering for rational investors.