From December 1999 until October 2001, Amazon dropped over 90%.
Critics said it was doomed.
“Burning cash.”
“No profits.”
“Overbuilt without demand.”
“Walmart will crush them.”
But Amazon didn’t die.
It built quietly.
And then AWS launched, and the rest is history.
Polkadot in 2025 might feel like Amazon in 2001.
Great tech. No killer app yet.
But if one hits, it can flip the story fast.
Sometimes, the loudest obituaries come right before a comeback.
Polkadot is dead.
Raised $500M. Promised a revolution.
Now? No users. No devs. No future.
Here’s how one of crypto’s biggest bets faded into a ghost chain 👇🧵