Andrei Grachev, a partner at DWF Labs, suggests that the cryptocurrency market may be approaching its bottom, with expected volatility around 15% at current price levels. Grachev notes that while professional investors continue to fund real-world assets and ambitious projects, direct spot market inflows have stagnated due to favorable trading terms for cash holders. Behind the scenes, mergers and acquisitions are reportedly active, with several revenue-generating companies planning IPOs. Grachev predicts that most altcoin projects will decline post-bear market, with only growth-driven projects thriving. Retail investors are currently focused on speculative platforms, but are expected to return to mainstream assets and new "grand vision" tokens as the market recovers.