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On May 22, Slow Fog's Yuxian posted on platform X, stating, "I have my own perspective: if Bitcoin fails, the Crypto industry will fail; if Ethereum fails, Crypto will not fail, but it will become very boring. All public chains similar to Ethereum (running smart contracts) will face similar paths to failure, and the entire industry will become very uninteresting. Yes, only Bitcoin's Crypto industry will be extremely, extremely boring. Stablecoins, RWA, and other products that are quite outside the mainstream will need to run on another public chain that is not only secure, sufficiently decentralized, and has mature infrastructure, otherwise it will be meaningless... I hope the industry remains interesting; without breaking, there can be no building, even if a situation of 'when one whale falls, everything thrives' occurs. I also hope everyone truly prioritizes security, so as not to become disappointed in the entire industry due to security issues, and not to be forced away from the table because of security concerns."

BlockBeats News, May 22nd, according to Coinglass data, as Bitcoin holds steady, the current mainstream CEX and DEX funding rates show a weakening bearish sentiment, with specific funding rates as shown in the chart below. BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges to keep the contract price in line with the underlying asset price, usually applied to perpetual contracts. It is a fund exchange mechanism between long and short traders, and the exchange does not charge this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price. When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.

Jinse Finance reported that on May 22, SlowMist’s Cosine posted on X, saying: “Here’s my perspective: if Bitcoin collapses, the entire crypto industry will collapse; if Ethereum collapses, crypto won’t collapse, but it will become extremely boring. All public chains similar to Ethereum (running smart contracts) would face a similar path to failure, and the entire industry would become very boring—in fact, a crypto industry with only Bitcoin would be extremely, extremely boring. If products like stablecoins and RWA, which have gained significant traction outside the industry, do not primarily run on Ethereum, then there must be another public chain that is not only secure and sufficiently decentralized but also has mature infrastructure to support them. Otherwise, it’s pointless... I hope the industry remains interesting—sometimes things have to break for new things to flourish, even if it means ‘when a whale falls, all things are reborn.’ At the same time, I hope everyone makes security a top priority. Don’t let security issues lead to disappointment in the entire industry, and don’t be forced to leave the table because of security problems.”