You know what's funny, i have been thinking about crypto stages as well, my list was: 1. creation of technology (coin or token), first investors mild growth 2. potential (also called hype - exponential growth and crash, cycle repeats until stage 3 happens) 3. utility (slow, but steady growth, minor crashes that everyone is accustomed to after stage 2) - this is where we are in very eraly stage right now, this last crash is still ongoing) 4. Use of full potential of coin (whatever coins are surfacing on top after stage 3 are what holders were hoping for, now they can cashout or keep profiting off of it), growth is slowest of all stages, but is stable and people who invested in earlier stages have substantial stakes in chain. 5. Creation of technology (coin or token) again - New generation of blockchain emerges, maybe when quantum computing are advanced enough to start actually compute for first time. 6.repeat