The shift from "mining token logic" to "utility logic," exemplified by Shelby’s breakthrough, may mark the end of one era—and the dawn of another. The Rise and Fall of a Top Narrative Storage was once a flagship narrative in crypto. Filecoin, the sector leader during the last bull run, reached a market cap exceeding $10 billion. Its rival, Arweave, pitched "permanent storage" and peaked at $3.5 billion. Yet as cold storage’s practicality waned and permanent storage’s necessity faced skepticis...

The shift from "mining token logic" to "utility logic," exemplified by Shelby’s breakthrough, may mark the end of one era—and the dawn of another. The Rise and Fall of a Top Narrative Storage was once a flagship narrative in crypto. Filecoin, the sector leader during the last bull run, reached a market cap exceeding $10 billion. Its rival, Arweave, pitched "permanent storage" and peaked at $3.5 billion. Yet as cold storage’s practicality waned and permanent storage’s necessity faced skepticis...