I’ve seen enough cycles to be confident about this: when the noise fades, the builders who stay get sharper. This is the part of the cycle where focus matters, execution speeds up, and real products get shipped. Crypto is still special for the same reasons it always has been — permissionless by default, strong systems of record, and the ability to build and deploy without asking for permission. Quiet markets aren’t a setback. They’re an advantage. If you’re building right now, you’re exactly where you should be.