RE: The crypto industry is stagnating

It will take some time for the masses to adjust to this new technology, and incidents like FTX, BlockFi, Celsius, QuadrigaCX, etc. are painful, but teach the necessary lesson - not your keys, not your coins. Self-custody is what makes crypto valuable in the first place.

Projects like Thorchain and others are making headway in cross-chain DeFi, where people can exchange one crypto for another without having to entrust anything to a third-party. These projects are hard at work, despite the bear market.

Yes, the majority of people are still hesitant to get involved, but overall adoption of crypto continues to grow, regardless of the price swings.