In crypto, timing is everything—and healthcare tokens may have simply been too early.

While much of the digital asset market has been dominated by speculative cycles, meme coins, and decentralized finance, healthcare-focused tokens have largely faded from mainstream attention. Today, the sector’s market capitalization sits at a fraction of its peak, totaling approximately $130M according to CoinGecko; the low hundreds of millions. To many observers, that signals failure.

But from where I sit—as a founder building at the intersection of healthcare infrastructure, AI, and blockchain—the reality looks very different.

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Healthcare tokens didn’t disappear. They’ve been rebuilding—quietly, methodically, and…