From a market capitalization perspective, the total global gold market value has stabilized at around $30 trillion, the total global stock market capitalization exceeds $150 trillion, while cryptocurrencies have just surpassed $3.2 trillion. If cryptocurrencies are to serve as "digital gold" or a "new settlement layer," there is still enormous growth potential.

Currently, cryptocurrencies are more often viewed as speculative assets, but as CZ mentioned, the underlying blockchain technology's potential has yet to be fully unleashed. RWA (Real-World Asset Tokenization), decentralized physical infrastructure, programmable currencies, and other innovations are now in the blockchain industry, which is akin to the internet in the early 1990s.
The market is at a crossroads, transitioning from mere coin price speculation to application-driven value.