Maybe retail just got sick of being absolutely fleeced by VC’s endlessly selling supply on their heads…? Yes HYPE had revenues and that forced people to rewrite the sector based on a real multiple but the bigger thing was the combination of no VC overhang on Hype for endless emissions, no low float high FDV dynamic (launched at a reasonable valuation), Echo launching allowing retail entry to projects at reasonable valuations, and simply retail being fed up of being exit liquidity at every 1 cliff date. Kinda crazy to me to write this reflection and exclude the major drivers. Revenue generation was just a small part of it. I digress, fortunately the jig is up and easy mode for VC’s is over now and that’s what is causing the attrition. This is a good thing and I am very bullish on the next version of crypto that emerges from it Hyperliquid