Focus on innovation can be the best way to tide over the slump in the crypto industry that seems to have significantly shifted. Although investors are thinking about Web3-based technologies and products like metaverse and NFTs. There is a lack of trust in the crypto industry. With a stream of bad news from the crypto community, enthusiastic crypto aficionados are re-evaluating their opinions related to the digital space. With a wide range of cryptocurrencies across the world are plunging to be at an all-time low without any sign of slowing down soon, most crypto lenders are forcing themselves to take steps like blocking transactions in order to control volatility among exchanges and crypto assets that are planning to lay off staff in order to keep themselves in the steady situation.