I think crypto is still a good idea in Africa, but the hype has definitely cooled down. During the 2020–2021 bull run, a lot of people jumped in thinking it was quick money without really understanding it. Now that the markets have crashed, only the serious ones are still paying attention.
That being said, Africa still has some of the best use cases for crypto; cross-border payments, remittances, even small businesses using it to avoid currency fluctuations. In countries where inflation is crazy and the banking system is slow or expensive, crypto can still solve real problems.
But the dream that everybody will get rich overnight is mostly dead. People are more cautious now, which is actually a good thing. It's better for adoption long-term if people treat it as a tool and not just a gamble.
So no, I don’t think the hype is completely dead, it’s just matured. And the people who are still building now will probably be the ones who benefit when the next big wave comes.