The pivotal inflection point for Crypto 2.0 will arrive when Nasdaq or the NYSE launches tokenized equity trading. As this matures, traditional centralized crypto exchanges (CEXs) will evolve. The strongest will successfully pivot into next-generation tokenized stock platforms, while the better ones will transform into decentralized wallet and trading aggregators. Most legacy CEXs will simply cease to exist. In the end, only decentralized exchanges and tokenized equity platforms will remain. Nasdaq, the NYSE, and the CEXs that successfully transform will become the dominant venues for crypto. At the same time, no CEX—whether it pivots or not—will surpass the market cap of the leading tech tokenized equities. Even Bitcoin and Ethereum will not exceed the market capitalization of the top tech-driven tokenized stocks. I said this three years ago: Ethereum's all-time high in 2021 was its peak. That year was crypto's 2000, and Ethereum was the Cisco of its era.