The beginning of the year has indeed been interesting for the market. Recently, industry reports have pointed out that "the four-year cycle is a thing of the past," replaced by institutional investors adopting a more steady and pragmatic approach. Just look at the latest data: BTC remains steady in the 87-88k range, ETH holds the 3k level, while mainstream L1s like SOL and SUI are experiencing slight rotations. Capital flows are shifting from pure FOMO into BTC to real-world applications like DeFi and RWA.

What’s the difference? In the past, retail FOMO drove prices higher; now, pension funds and sovereign wealth funds are gradually building positions. As regulatory frameworks become clearer, stablecoin applications and asset tokenization are gradually becoming mainstream. Last month, the market’s trading volume exceeded $18.8 billion, and the combination of AI agents and DeFi is giving rise to a nascent machine economy.

But risks are also evident: the threat of quantum computing is gradually surfacing, and tokens with high FDV may face long-term pressure. Macro environment fluctuations can cause liquidity to evaporate instantly. Overall, the early stage around 2026 seems more about laying a solid foundation, with market focus shifting from meme culture to projects that can truly generate value. ETH may seem less sexy, but institutional buying pressure will far exceed expectations.

Additionally, some educational and public welfare initiatives have recently gained attention, such as free English lessons for children through applications—these practical charitable efforts are quite heartwarming. The Web3 community is also participating creatively, for example, supporting global children’s education projects through meme culture. All these demonstrate that blockchain is not just a financial tool but can also carry social value.

What do you think about the upcoming market trend? Which direction do you think the market will break through?