🔍💎 Crypto after the easy money era: what's left for 2026? Chia to Nick Tomaino, founder of the 1Confirmation fund. The total market Capital of cryptocurrencies is currently around $3.1 trillion, down 14% from the previous year. But looking at the long term, cryptocurrencies have gone from zero to over $3 trillion in just over 15 years. The problem is: too much easy money has been created during that period. By 2025, easy money will officially end. Models that rely on price manipulation, such as VC pump & dump schemes, memecoins, or DATs, will no longer be effective. The market will no longer pay for empty narratives. Notably, 2025 will be the first year that products not dependent on Token speculation outperform the market. Tokens like Polymarket and stablecoins have seen a surge in users, even as the overall crypto market cap declines. This demonstrates that Token price is no longer the sole measure of success. Truly good products, which attract new users because of their utility value, not because of the hope for price increases, will continue to grow rapidly. If you want to surpass the market, you need to build or directly use these types of products, instead of just chasing price. Regarding Token investments, there are three things to remember: - First, there will always be sellers who exaggerate the story to drive up the price - be wary. Secondly, the major global trend is a decline in trust in traditional institutions, while the internet is becoming increasingly important; therefore, neutral, unregulated currencies present a huge opportunity. - And finally, currently only two assets truly achieve that level of reliable neutrality: Bitcoin and Ethereum.