From underground to mainstream, from the margins to the table, the evolution of the crypto space increasingly resembles the trajectory of HIP-HOP.
The initial crypto world was like 90s street rap, full of rebellious, anonymous, and non-mainstream wild charm. Those early players believed in freedom, decentralization, and anti-censorship, engraving "anti-establishment" into the code.

Recently, the traditional financial sector has been active, with crypto gradually moving from "underground culture" to "mainstream business"—just as HIP-HOP entered the Grammys, signed with major record labels, became a trend, and became background music in advertisements. Web3 has also begun to receive endorsements, collaborations with major companies, and participation from Wall Street and Silicon Valley capital.

The tension and symbiosis between the two:
Underground retains the soul of crypto, while Mainstream brings the space for survival.
The two are not an either-or; they reflect each other and jointly drive the industry forward.
Just as HIP-HOP has underground freestyle cyphers, it also has superstars appearing at the Super Bowl.

The future?
More hybrids of "underground + mainstream" will emerge: for example, providing compliant privacy solutions with FHE/ZK technology @zama_fhe;
Policy pressures accelerate the division within circles, with some projects choosing compliant listings while others continue anonymous governance;
Both camps have their followers: one believes in immutable code, while the other embraces pragmatic compromise.