Here's a hot take circulating in the crypto community: when it comes to digital asset treasuries, only those backed by genuine, functional products will make it long-term. The logic? Without real utility or meaningful tech behind the scenes, these treasuries become hollow—just token stacks with no underlying value proposition. Industry figures are pointing out that the difference between thriving and struggling crypto entities often comes down to one thing: having actual products people want to use. Treasuries packed with tokens from projects that lack real-world application? Those are sitting ducks. But organizations with crypto holdings that genuinely solve problems or enable use cases? They're positioned to weather market cycles and build sustainable value. It's a sobering reminder that in this space, substance beats speculation every time.