The recent craze for Pokemon cards seems to have peaked. A few years from now, it may very likely repeat the fate of NFTs. However, judging from the insane enthusiasm in the retail and encryption circles, there is indeed soil for a new wave of speculation. What does this indicate? Market sentiment and capital flow can be ignited as long as there is a story. The problem is that the encryption field has not yet seen that "story" that can ignite the entire market. Each wave of excitement tells us the same truth: human nature remains unchanged, and cycles persist.