Does encryption still have a future?

Since the birth of cryptocurrency, many tracks have emerged: Defi, NFT, inscriptions, LSD, privacy, Did, cross-chain, metaverse, etc.

Every new concept that emerges can detonate the market. However, each time this heat lasts for a very short time. The market's love of new things and dislike of old things makes limited funds flow between different tracks. Only a new track or a new concept can detonate the market; and when a new track or a new concept appears, the original track will be silent.

Encryption seems to be caught in an infinite loop. It seems that opportunities are everywhere, but every opportunity may turn into a trap at any time.