Price is the ultimate truth. In a market where everything is falling, nothing can stay strong forever—even the privacy sector, which has been pulling off counter-trend rallies, is no exception. Take Canton, for example—a project with $100 million in funding and a massive backdrop of 5 billion DAT in resources. If it’s meant to drop, it’ll drop. This shows how fatigued the market has become with buying into narratives. When the market was good, top-tier institutions like Yzi Labs, Circle, DTCC, and Goldman Sachs could back a project, and just a casual pitch would trigger FOMO. But now, the same narrative and the same lineup can no longer push prices with that same momentum. That said, Canton, as a privacy-focused L1, has a real edge in its ability to natively issue assets. After all, being a privacy public chain that complies with regulations is almost one of a kind. Privacy + a strong investment lineup—it’s like stacking all the buffs. But the problem is, in this market, fundamentals can’t drive prices anymore; it’s actually the other way around. No one is willing to buy into narratives or fundamentals in advance. Price is the ultimate truth.