I One thing I’ve learned watching crypto cycles is that network effects rarely begin in bull markets. Bull markets amplify what already exists. Bear markets are where foundations are quietly built.
That’s why periods like this are worth paying attention to projects like @Plasma
Most people track price, but price is usually the last signal to move. The earlier signals are harder to see: wallets returning to the same applications, transaction flows becoming consistent, fees stabilizing instead of spiking, and infrastructure proving it can handle load without drama.
These signals don’t create headlines, but they create durability.
What makes Plasma interesting in this environment is its focus on repeatable economic activity. Payments, settlements, and stablecoin transfers are not dependent on market sentiment. Businesses still settle accounts. Users still move funds. Value still needs to flow.
That kind of usage doesn’t disappear in a downturn—it just becomes less visible.
This also changes how growth should be measured. Instead of asking how many new users arrive in a week, it’s more useful to ask how many transactions are happening every day, and whether those numbers are stable or increasing. Quiet consistency is often more meaningful than sudden spikes.
For $XPL , this kind of environment is actually constructive. Tokens built around speculation depend on attention, and attention is scarce in a downtrend. But tokens connected to real network activity follow a different curve. They move slowly, then suddenly, once usage reaches a threshold that becomes impossible to ignore.
That’s how infrastructure usually works.
Not in explosions—but in accumulation.
And by the time the market notices, the foundation is already there.