Why is the encryption marketplace no longer interesting?

Do you remember the days when the crypto Twitter circle felt like sitting in the front row of a movie theater watching blockbusters?

The market was like an out-of-control roller coaster, narratives flipped as frequently as flipping pancakes, and every week was filled with Hollywood-style tension and excitement.

But where has all that gone?

If you still miss those “big pump K-lines” and Bitcoin’s 20% daily surges, Nic Carter wants to let you smile through tears: cryptocurrencies are boring now because we’ve won.

From the collapse of major exchanges to Eastern bans, from Elon Musk’s tweets to COVID-19 black swan events, the development path of the crypto industry has been full of ups and downs.

Jamie Dimon (CEO of JPMorgan Chase) once condemned Bitcoin as an “eyewash,” even threatening to fire any employee involved in crypto trading at JPMorgan.

And now, this global banking giant is stockpiling Stablecoins. Dimon even admits, “Cryptocurrencies are real, and Stablecoins are real too.”

JPMorgan not only allows clients to use Bitcoin and Ether as collateral for loans but has also launched its own blockchain infrastructure.

Have those crazy days really vanished? Are cryptocurrencies truly becoming boring? Should we seek new asset classes for excitement?

It turns out that Gandhi’s famous quote, “First they ignore you, then they laugh at you, then they fight you, and then you win,” might be more fitting for the development trajectory of cryptocurrencies than anyone imagined.

The core of this shift in atmosphere, as Nic Carter mentioned in a post on X, is: the reason for reduced volatility is that we’ve won.

He states, “Cryptocurrencies are boring because many unresolved issues have been answered.”

Speculations about whether Stablecoins will be banned or whether writing smart contracts will land you in jail are now a thing of the past.

The extreme volatility of “making wealth in the morning and going bankrupt in the afternoon” was rooted in regulatory scarcity—no one knew when rules might suddenly change.

Now, the “Stablecoin Regulatory Bill” clarifies the rules for Stablecoin regulation, and the “Cryptocurrency Asset Classification Act” defines clear boundaries between securities and non-securities.

Even the integration of cryptocurrencies with traditional finance has shifted from a “hot topic filled with risk premiums” to a “footnote in history.”

When “holding US Treasuries on-chain” becomes routine business, and when BlackRock’s crypto exchange-traded products (ETFs) no longer cause controversy, volatility naturally drops, and cryptocurrencies become “boring.”

Despite the price movements being uneventful, many see the once “wild opportunities” now as “amusement parks turned into parking lots.”

Bitcoin analyst Will Clemente commented, “Honestly, the atmosphere in my crypto chat groups is too oppressive. Many people have either completely given up and shifted to other asset classes or are preparing to do so.”

But Clemente isn’t lamenting this. To him, clear regulation, Wall Street’s involvement, and the dull stability are proof that cryptocurrencies have “won.”

The entire industry has matured: the once “technological risk carnival” has now become the “technological infrastructure layer” adopted by global giants. The new rules of the game are no longer about “finding loopholes,” but about “building products that truly create value in the sunlight.”

Wall Street isn’t just joining the party; it’s taking control of the narrative.

BlackRock, JPMorgan, and even Dimon’s attitude have undergone a major shift, now becoming classic stories in the crypto world.

From “deniers” to “builders,” the shift of old forces has ended a previous “chaos-driven, speculative reward” approach.

Now, cryptocurrencies are indeed boring. Traditional finance’s rigor brings real funds, reliable custody, and complete infrastructure.

The “Wild West” legend is being replaced by compliant teams, pension fund allocators, and cautious bankers.

All of this is good; it’s just that some of us still miss those “outlaw” days of wild enthusiasm. This “history of crypto development” always feels a bit familiar.