Recently, there is a phenomenon in the market worth noting—the price trends of cryptocurrencies are increasingly diverging from the actual progress of underlying projects.

A well-known venture capital investment partner recently pointed out this issue. He believes that several factors are fueling this trend.

First, the speculative enthusiasm for Meme coins has clearly cooled down. These types of coins attracted a lot of capital and attention earlier, but now the momentum is indeed waning. Second, recent market events have caused shocks—these sudden incidents have dampened market sentiment. Additionally, the slowdown in buy orders for data tokens (DAT) has weakened the purchasing power that originally supported this sector.

More importantly, many funds are now flowing into AI-related stocks and private equity deals. This also explains why, even though crypto projects are making progress in technology and ecosystems, market capital has not kept pace with the development.

Although market sentiment is somewhat subdued and many investors are watching cautiously, from a fundamental perspective, the development of many projects is still ongoing. This mismatch between price and value might actually present an opportunity for discerning investors.