Cryptocurrency Truths and Lies: Lessons from 2025



【Plain Language Guide】This article reviews Ignas's profound insights into the 2025 crypto market: ETFs have become the market's bottom line, successfully absorbing hundreds of billions in long-term holder sell-offs; airdrops are not dead but highly competitive, with giants like Polymarket launching tokens in 2026; fee switching can only provide price support rather than a growth engine.

The author points out that 2025 marks the "end of the HODL culture," where everything is trading, and the high centralization of DeFi and governance conflicts will become the core battleground in 2026.

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