Many people believe that ESG has lost popularity in recent years, but in fact, this concept has not disappeared; it has just stepped back from the spotlight. In the crypto market and traditional finance, topics like environmental protection, social responsibility, and governance mechanisms have always existed, with the discussion volume fluctuating over time. Genuine investors and institutions have never stopped paying attention to ESG; they have simply adopted a more low-key approach. Market cycles are always like this—what seems to be ignored today may become the next hot topic tomorrow. The key is to understand the long-term logic behind it, rather than being misled by short-term emotions.