You can feel how loud the market has been lately. Bitcoin and Ether slipped about 9 and 11%, gold cooled, tech stocks wobbled and even the Solana price reacted to the wider pullback. When you see screens turn red, it is easy to assume something is broken. Yet when you look closer, the most important forces shaping crypto are not happening on the charts. They are happening in infrastructure, regulation and innovation. These areas move more slowly, but they often build the foundation for the next wave of growth, whether prices are rising or falling.

Richard Teng, Binance CEO, captured this perfectly when he said, “Any consolidation is actually healthy for the industry, for the industry to take a breather, find its feet.” If you…