In yesterday and previous articles, I often say that the power from the inside of the crypto ecosystem is the healthiest, most sustainable, and most powerful force that can drive the market; while catalysis and stimulation from the outside can only work briefly, and the sustainability lasts very short.

This is why, although I will share the benefits of encryption, what I prefer to share is inventions, creations, new models and new scenarios from within the ecosystem.

What is the power from within the crypto ecosystem?

For example, the two sectors that have risen in this round of market: Inscriptions and AI Agents.

It's just that the inscriptions are weak and have no real strength; while the AI ​​agent has suffered repeated shocks before they have been systematically formed, which has damaged its vitality, and now it has to wait for it to recover.

In this regard, the DeFi, NFT and chain games that broke out in the last bull market have completely gone through a cycle and completely ignited emotions.

Many readers have experienced the last bull market. At that time, the strong inner strength and appeal of the market were. I believe that many readers can still remember it vividly.

In the current encryption ecosystem, after wave after wave of impact, it seems that we have gradually forgotten this feeling.

In fact, it is next door to us. What A-shares and Hong Kong stocks have and are experiencing are the best references.

This round of A-shares has recovered from despair. The first wave of A-shares experienced was the market that started in September last year.

That scene is not far from us, and I believe everyone is familiar with it.

At that time, under simple stimulation, A-shares and Hong Kong stocks suddenly soared. During the process of singing, the Shanghai Composite Index's single-day increase exceeded 5 percentage points. The Shanghai Composite Index rose by nearly 1,000 points in less than a month, with an increase of more than one-third. This is not a stock, but an index.

I can't find anything else except "crazy".The word is used to describe the market at that time.

What is the result? After National Day, without further strong stimulation, the market immediately interrupted, and A-shares and Hong Kong stocks fell simultaneously, and there has been no decent improvement since then.

This is what we will see when external stimulation alone without internal ecology.

In fact, this is not only the traditional financial market, but any financial market, including the crypto market, has this feature.

To pull the market up in this way, you have to continue to release the water and continue to get rid of the chicken blood.

Except for a few developed countries in the world, such as the United States and Japan, I guess it is not easy to do this.

This is the case with traditional markets, and the crypto market is no exception. Even if the crypto market has strong stimulation, how long can it last?

Back to A-shares and Hong Kong stocks.

After the A-share and Hong Kong stocks were sluggish in October last year, an unexpected accident occurred in January this year:

The emergence of DeepSeek subverted the development path of big models, and made developers realize that in addition to being able to make strong contributions to computing power, they can also think of ways to algorithms.

This news not only shocked the US stock market, but also A-shares. People have begun to look for various listed companies that indirectly hold the quantification of their parent company's shares.

A shares began to turmoil, while southbound capital and foreign capital began to pay attention to Hong Kong stock technology stocks again.

Afterward, a series of AI-related positives such as Yushu Technology's robots and NVIDIA's shareholding Wen Yuanzhixing were released.

Apple's choice of Alibaba as the partner of AI in the iPhone area has pushed the AI ​​theme to a climax.

In addition to news publicity, I have seen a large number of cases in my personal application: During this period, I often see friends in my circle of friends posting news about their company launching a certain + DeepSeek solution, and they are promoting the improvement of DeepSeek's efficiency and cost reduction of the company's business.

Obviously, the application and popularization of AI have begun to truly enter our lives and begin to change our lives.

In the past period, almost all Hong Kong stock technology companies have started to start, and the Hang Seng Technology Index has become the focus of attention.

Left;">In terms of A-shares, the current market is relatively healthy, basically maintaining a step back and no longer losing their minds like in September last year.

This is the driving force that comes from the ecology. The market that comes out under this force is a healthy market and a sustainable market.

What the crypto ecosystem lacks is precisely such internal driving force, and this real source power is lacking.

Wishful and willing to rely on "game" as a "righteous business" is impossible to make the crypto ecosystem develop healthily. Therefore, we must still focus on discovering new trends, new inventions and new scenarios in the ecology.

Off topic: I wrote this article today, not to ask everyone to buy A-share Hong Kong stocks, but in the past two days, I suddenly thought that the source driving the two waves of trends of A-share Hong Kong stocks last year and this year corresponds to the external forces and ecological internal driving force. In addition, A-shares and Hong Kong stocks are very familiar to us, which is easier to understand in comparison.

In contrast, we can see the problems facing the crypto ecosystem. I hope we can see the real direction and real motivation of the crypto ecosystem from this reference, explore the real direction in our daily learning, and find the real driving force of the crypto ecosystem in the real direction.