Are We Entering a New Phase of Crypto Adoption or Just Another Cycle of Speculation?

Over the past few months, we’ve seen renewed optimism across the crypto space — institutional investments, growing DeFi activity, and governments finally exploring CBDCs more seriously.

But here’s the question:
Are we truly witnessing the early stages of mainstream adoption, or is this just another speculative wave like we saw in 2017 and 2021?

Crypto is maturing in many ways — regulation, better security, and infrastructure — yet retail sentiment still seems to move largely with price action.

What’s your take? Are we evolving past the “hype phase,” or are we destined to repeat the same market psychology until a global shift happens?