$W just got a brutal reminder that valuation is not the same as demand 🧨
Nearly $22 billion in paper value has evaporated across a cluster of once-hyped crypto names, with several projects now trading far below their funding marks. The real takeaway for funds is simple: the market is repricing narrative-heavy assets and rewarding only what can still attract liquidity, users, and staying power.
When a big chunk of the damage sits in ZK and Layer-2 names, it signals an overheated infrastructure trade finally cooling off. This is the kind of reset whales watch closely, because washout phases often separate broken stories from the few survivors that can actually absorb capital.
Not financial advice. Manage your risk and protect your capital.
#Crypto #Altcoins #DeFi #Layer2 #Web3 ✦