Bitwise CEO: The crypto sector is undergoing a transformation similar to the one after the dot-com bubble burst

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Bitwise CEO Hunter Horsley says crypto is entering a phase similar to the period after the internet bubble burst. He argues that many projects once commanded large valuations because of potential, but only companies with real, defensible value survived and grew over time. He expects the same pattern in crypto, with fewer winners but stronger and more durable leaders. The piece is a market perspective rather than a company announcement or product update.

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