This is by far the weirdest crypto market i've been through. majors absolutely sending, yet startups dying all around me. my read of what's happening

1. Majors rally don't affect startup, only exchanges
2. No alts rally means no new tokens and no net new users
3. Memecoins as the dominant traded asset class for retail means that the ecosystem is dwindling as traders lose all their money to snipers & down-only tokens.
4. The "market" is now 100 whales, 10,000 tradeers, and 200 companies. Small markets with lots of capital means things are intensely PvP. 
5. 2021 seeded founders are getting burned out from PvP in shrinking market.

I think another aspect is that majors/crypto market rallying gives operators a false sense of budget? Or market sentiment for their product?

Crypto is weird. Most crypto founders are always paying attention to prices and cheering on the rallys. Do AI start-ups do this for Nvidia, Google, or Microsoft? Prolly not.