San Francisco, CA – Mert Mumtaz, co-founder and CEO of Solana infrastructure firm Helius, recently posted a starkly pessimistic message on social media, stating, > "it's over... the markets are never coming back, go home." This declaration, shared on August 7, 2025, presents a sharp contrast to the prevailing sentiment and performance observed across the cryptocurrency and broader financial markets.
Despite Mumtaz's grim outlook, the cryptocurrency market has maintained a robust bullish trend through August 2025. Bitcoin, the leading digital asset, has solidified its position above $118,000, driven by increased institutional investment and stabilizing global political conditions. Ethereum and Solana are also experiencing consistent recovery and growth, with analysts predicting continued upward momentum for major altcoins.
Helius, co-founded by Mumtaz, specializes in providing developer tools for the Solana blockchain, including webhooks and remote procedure calls (RPCs). Mumtaz has historically been a vocal proponent and defender of the Solana ecosystem, often expressing bullish views on its potential for significant growth and scalability. His past statements have frequently highlighted Solana's technological advancements and its "real shot at this crypto thing."
The current market data contradicts the notion of an irreversible downturn. Reports indicate a sustained interest from both retail and institutional investors, with a focus on high-market-cap tokens demonstrating strong financial fundamentals. The overall crypto market cap surged to $3.4 trillion, with projections of continued growth fueled by regulatory clarity and expanding real-world utility.
While the global economic outlook for 2025 includes some anticipated volatility and shifts, it does not broadly support a scenario of complete market collapse. Experts note a deepening correlation between crypto and traditional markets, but with stronger regulatory frameworks and institutional inflows, the overall demand for cryptocurrencies appears to be trending upward in a more measured manner compared to past speculative cycles. Mumtaz's recent tweet stands as a personal, highly subjective commentary amidst a market demonstrating resilience and ongoing development.