2025 was not a year easily summarized in the crypto world. Narratives repeatedly failed, consensus frequently crumbled, cycles became blurred, and volatile emotions were amplified infinitely.
Against this backdrop, writing itself becomes more difficult—because more important than "writing fast" is writing accurately, writing truthfully, and writing in a way that can withstand review .
This year, the Odaily Odaily platform published a total of 1,770 original articles. Editorial staff selected articles from their own work that raised key questions or captured snapshots of the times, articles that remain relevant or offer valuable lessons for reflection in the new year.
(Note: Many "hot topics" may not be included. For a review of key milestones of the year, please see Odaily's previous article, "4 Key Words to Set the Stage for Cryoto's 2025 Seasons .")
The articles, though differing in perspective, style, and even answers, collectively depict the true outline of 2025.
Wishing all readers that in 2026 you will maintain your judgment amidst uncertainty, find your own rhythm amidst volatility, and achieve your goals!
Let's take a look at these representative articles:
January 8
A Confession from a Diamond Trader with 88x Leverage: Why I Chose AI16Z (and Sold Swarms)
Asher (X: @Asher_0210): Have you already forgotten the AI Agent craze at the beginning of the year? This is a record of my most successful early investment, telling the true story of how I discovered ai16z and held on to it to obtain nearly 100 times the return. Although the hype has long faded, the methodology remains, inspiring me to still believe in the benefits of early investment in 2026.
January 18
Wenser (X: @wenser2010): At the beginning of the year, Trump's wealth-creating opportunities were industry-level and phenomenal projects. At that time, we also reviewed the traders who had achieved great results. Looking back now, most of the smart money is still active in the crypto circle and has seized many major opportunities of the year. It is worth paying attention to in the long term.
January 28
Golem (X: @web3_golem): The meme market may have receded now, but the fierce competition that swept through early 2025 is still worth revisiting. It was at that juncture that Odaily interviewed Crypto D, a leading figure in the meme field. His summary of meme principles, not a product of emotion, is a calm analysis of cycles, human nature, and liquidity—principles that will never be outdated.
February 8
Dc (X: @HanzoDC): Focuses on fundamental changes in the US regulatory environment, the overall landscape of personnel reorganization and policy shifts within major US financial regulatory agencies (including the SEC, FDIC, and CFTC) after the Trump administration took office, and how this change is reshaping regulatory attitudes towards the crypto industry. The angles chosen are rather unique; most of the news points discussed are minor news items that mainstream media haven't paid much attention to, but when put together, they form a major trend, and some events are actually quite interesting.
February 19
A Roundup of Major Cryptocurrency Money-Making Machines
Wenser (X: @wenser2010): The business models of platforms, organizations, and projects in the industry have always been a focus of my attention. So in the first half of the year, I conducted a simple data collection and analysis on the efficiency of high-revenue protocols and platforms. Looking back now, CEXs and stablecoins are still at the top, while the DAT model is highly dependent on market performance.
February 21
Wenser (X: @wenser2010): The theft of $1.5 billion in assets by Bybit shocked the industry and beyond. I quickly provided in-depth coverage of the incident within two hours that night, and witnessed a textbook example of crisis public relations. The industry's ability to handle security risks and crisis events was once again verified. It was a very landmark security attack.
March 8
The White House Crypto Summit: A Political Show of Sycophancy and Slogans (with Full Transcript)
Dc (X: @HanzoDC): After following the conference livestream, I was shocked by how empty and pretentious the conference itself was; many of the expressions were very bureaucratic in English but completely devoid of content, so I quickly wrote this article. This chapter is short, but at the time, amidst a general climate of praising Trump's leadership in crypto, I was trying to glimpse another side of the issue.
April 19
In-depth comparison of ten encrypted payment cards: from application process to fees.
Dc (X: @HanzoDC): We conducted a systematic evaluation and comparative analysis of ten representative encrypted payment cards on the market. It took a long time to collect data, conduct interviews, compare domestic and foreign user needs and experiences, and gather user feedback.
July 1
Leo (X: @LeoAndCrypto): I wrote this overnight after the news broke. Robinhood's announcement of stock tokenization is one of the most important moments in crypto this year. It is not only a product innovation, but also marks the formal move of core financial assets in the real world to scalable on-chain circulation. Crypto is beginning to deeply intervene in and reshape the way traditional capital markets operate.
July 11
Dingdang (X: @XiaMiPP): Although the crypto industry as a whole is sluggish, ETH did stand out this year, reaching a new high of $4,950. Yi Lihua, as a "famous bull" in ETH, also attracted attention. This article was published on the eve of ETH's surge. Although there was not much new content, it was a shot in the arm at the time.
July 17
Dingdang (X: @XiaMiPP): At that time, DAT was emerging, and it was already possible to judge that the knock-offs would not repeat the past pattern, but rather the rotation of sub-sectors dominated by the structural inflow of institutional funds. Attention shifted from traditional small-cap speculation to compliance, real yield and institutional participation. Although the market trend in the following months was bleak, the local hot spots confirmed this characteristic.
July 25
A Deep Dive into Jia Yueting's foray into RWA: Who is the new director behind the veteran actor?
Ethan (X: @ethanzhang_web3): One of the hottest discussion topics this year is RWA, and Jia Yueting's foray into crypto is quite unexpected. Initially, based on the logic of his real-world order assets, it was predicted that he would bring the pre-orders to the blockchain, but unexpectedly, Mr. Jia is more adept at it. He separates cars and crypto, establishes a separate operating system, creates a double flywheel and double bridge, and makes crypto indicators. Sure enough, the answer you can think of most directly is often not the final answer.
July 29
Dingdang (X: @XiaMiPP): This article traces the "confidence game" process of Ethena/ENA, from hundreds of millions of buybacks to stabilize prices, to on-chain data revealing potential selling pressure, and then to the strategic extension of the stablecoin compliance track and RWA layout.
August 22
The first batch of post-00s Web3 workers have begun to "leave the circle".
Golem (X: @web3_golem): In mid-2025, I personally experienced a relatively difficult period. I repeatedly wavered about why I stayed in Web3, the meaning of making money, and even my motivation to continue. It was against this backdrop that I wrote this article. It's not a grand narrative, but rather an attempt to portray the real situation of an ordinary Gen Z worker in the Web3 world: about choices, about ups and downs, and about the reasons for staying amidst uncertainty.
August 31
Where did everyone go at Bitcoin Asia this year?
Golem (X: @web3_golem): This is a travelogue, and also a record and reflection on the current state of the Bitcoin ecosystem. What I love is not dead.
September 9
The Most Comprehensive Overview of New Forecast Markets in 2025 (Part 1)
The Most Comprehensive Overview of New Forecast Markets in 2025 (Part 2)
Odaily Highlights: Tools to Double Your Trading Success Rate in Predictive Markets
Leo (X: @LeoAndCrypto): A three-part practical handbook for predicting markets.
September 29
"Post-2005 Crypto Fanatic Uh-huh: 'Binance Crown Prince' is Just My Covert"
Golem (X: @web3_golem): Uh-huh is a young, intelligent, and controversial figure. As I said in the article, although not everyone's way of accumulating wealth is glamorous, a young person who gambles on possibilities with limited resources deserves to be recorded, no matter what.
October 16
Ethan (X: @ethanzhang_web3): The article dissected the Chen Zhi case, which involved an astonishing amount of money. At the time, the most discussed topic was the BTC storage game between China and the United States. Later, with the addition of the argument of quantum attacks, it became one of the triggers for the popularity of privacy coins such as ZEC.
October 19
Odaily Office Dealing Contest: A True Account of the Misdeeds Committed with the Boss's Money
Dc (X: @HanzoDC): A record of the "Odaily Internal Office Trading Competition". The article documents the actual trading performance, position selection, and mindset changes of Odaily colleagues with an initial capital of 200 USDT over two weeks, as well as our experiences of winning and losing, impulsiveness, and reflection in the market.
October 30
If this continues, nobody will trade cryptocurrencies anymore.
Wenser (X: @wenser2010): An article written after the October 11 crash, which only points out the problems and expresses emotions, without providing solutions or clear conclusions. It points out the deep-seated problems of the current crypto industry, and the market is facing the dilemma of both depleted growth and competition for existing users.
November 1
Why Will We Still Need Bitcoin 17 Years From Now?
Dc (X: @HanzoDC): A long article summarizing the trajectory of Bitcoin over its 17-year history, reflecting on it from the perspectives of historical cycles, institutional logic, and value philosophy: As the real world continues to expand credit and debt, Bitcoin, due to its immutability and decentralized nature, remains a key to understanding the present and the future.
November 3
Dingdang (X: @XiaMiPP): When I wrote this article, the market still regarded the rise of ZEC as an emotional rebound; but I want to emphasize that: against the backdrop of continued tightening of regulations, privacy has not disappeared, but has been repriced and new narrative models have been developed.
November 5
What is the Curator role in DeFi? Could it be a hidden trap in this cycle?
Azuma (X: @azuma_eth): November saw a surge in on-chain security incidents, with Curator (the lead administrator) becoming the trigger for several collapses. However, when searching for information in the Chinese-language community at the time, it was found that almost no one had systematically written about Curator, a figure who had essentially become a behemoth in DeFi. Therefore, an article was written to sort out his role, revenue generation logic, and risk paradox, becoming an important reference for understanding the changes in DeFi security incidents and income generation strategies during that period.
November 6
"Machi Big Brother'Starting from Zero' Story"
Ethan (X: @ethanzhang_web3): A guy with the confidence of "unlimited ammunition" and the label of "serial entrepreneur," his story is full of depth and his character is vivid and three-dimensional. From holding a record-breaking $126 million long position on Hyperliquid in July, becoming one of the platform's top whale, to his account being completely wiped out in November, this "rags-to-riches" drama is nothing new in the crypto—everyone knows him, everyone jokes about him, yet countless people still aspire to be the next him. Obsessed with "being the big boss" at the "gambling table," his fate may have been predetermined, but that still doesn't stop him from trying every means to raise money and continue opening positions.
November 11
On-chain finance, danger! Run!
Azuma (X: @azuma_eth): Starting from a comprehensive overview of the risks associated with on-chain wealth management, this article dissects how the de-pegging of high-interest stablecoins, the leverage amplification of fund pools managed by fund managers, and the lack of regulation of lending protocols interact to trigger the systemic risk of a large-scale withdrawal of DeFi funds. This also explains why I believe the on-chain risk transmission after October 11th has not yet ended. I have re-examined the logic behind this judgment and applied it to my personal operations.
November 26
Exclusive Reveal of Exchange User Acquisition Strategies: Buy a New User for $50
Golem (X: @web3_golem): User growth remains a core challenge that the Web3 industry cannot avoid, and this statement still holds true in 2026. To this end, I interviewed the Paid Ads team of a certain exchange. They are trying to find ways to "break out" of the Web3 ecosystem using methods closer to the mainstream internet. Perhaps one day, Web3 ads will truly appear in every corner of our lives.
December 4
Why prediction markets are really not gambling platforms
Xiaohua attempts to explain why prediction markets are repeatedly suppressed yet repeatedly brought back to the forefront by capital and institutions—it doesn't challenge the bottom line of regulation, but rather the existing classification system. The real point of conflict isn't whether it "resembles gambling," but rather who should regulate it, who should collect the taxes, and whether it qualifies as a financial product. This is a power struggle and a matter of institutions, not a moral judgment.
December 12
Asher (X: @Asher_0210): This article summarizes the true process of the airdrop farming industry in 2025, from "gold everywhere" to "winter and involution," revealing the structural changes such as a sharp decline in airdrop profits, the exit of studios, and the rise of new gameplay. It is not only an annual summary of airdrop farming techniques, but also a firsthand account of the logic of interactive revenue transformation under the bear market and suggestions for 2026.
December 28
2026, Survive: A Bear Market Survival and Counterattack Handbook for Crypto Enthusiasts
Wenser (X: @wenser2010): 2026, survive, we're with you! 2025, the year of the crypto world, is not an easy year to summarize. Narratives repeatedly failed, consensus frequently crumbled, cycles became blurred, and volatile emotions were amplified infinitely.
Against this backdrop, writing itself becomes more difficult—because more important than "writing fast" is writing accurately, writing truthfully, and writing in a way that can withstand review .
This year, the Odaily Odaily platform published a total of 1,770 original articles. Editorial staff selected articles from their own work that raised key questions or captured snapshots of the times, articles that remain relevant or offer valuable lessons for reflection in the new year.
(Note: Many "hot topics" may not be included. For a review of key annual events, please see Odaily's previous article, "4 Key Words to Recite the 2025 Cryoto Seasons" .)
The articles, though differing in perspective, style, and even answers, collectively depict the true outline of 2025.
Wishing all readers that in 2026 you will maintain your judgment amidst uncertainty, find your own rhythm amidst volatility, and achieve your goals!
Let's take a look at these representative articles:
January 8
A Confession from a Diamond Trader with 88x Leverage: Why I Chose AI16Z (and Sold Swarms)
Asher (X: @Asher_0210): Have you already forgotten the AI Agent craze at the beginning of the year? This is a record of my most successful early investment, telling the true story of how I discovered ai16z and held on to it to obtain nearly 100 times the return. Although the hype has long faded, the methodology remains, inspiring me to still believe in the benefits of early investment in 2026.
January 18
Wenser (X: @wenser2010): At the beginning of the year, Trump's wealth-creating opportunities were industry-level and phenomenal projects. At that time, we also reviewed the traders who had achieved great results. Looking back now, most of the smart money is still active in the crypto circle and has seized many major opportunities of the year. It is worth paying attention to in the long term.
January 28
Golem (X: @web3_golem): The meme market may have receded now, but the fierce competition that swept through early 2025 is still worth revisiting. It was at that juncture that Odaily interviewed Crypto D, a leading figure in the meme field. His summary of meme principles, not a product of emotion, is a calm analysis of cycles, human nature, and liquidity—principles that will never be outdated.
February 8
Dc (X: @HanzoDC): Focuses on fundamental changes in the US regulatory environment, the overall landscape of personnel reorganization and policy shifts within major US financial regulatory agencies (including the SEC, FDIC, and CFTC) after the Trump administration took office, and how this change is reshaping regulatory attitudes towards the crypto industry. The angles chosen are rather unique; most of the news points discussed are minor news items that mainstream media haven't paid much attention to, but when put together, they form a major trend, and some events are actually quite interesting.
February 19
A Roundup of Major Cryptocurrency Money-Making Machines
Wenser (X: @wenser2010): The business models of platforms, organizations, and projects in the industry have always been a focus of my attention. So in the first half of the year, I conducted a simple data collection and analysis on the efficiency of high-revenue protocols and platforms. Looking back now, CEXs and stablecoins are still at the top, while the DAT model is highly dependent on market performance.
February 21
Wenser (X: @wenser2010): The theft of $1.5 billion in assets by Bybit shocked the industry and beyond. I quickly provided in-depth coverage of the incident within two hours that night, and witnessed a textbook example of crisis public relations. The industry's ability to handle security risks and crisis events was once again verified. It was a very landmark security attack.
March 8
The White House Crypto Summit: A Political Show of Sycophancy and Slogans (with Full Transcript)
Dc (X: @HanzoDC): After following the conference livestream, I was shocked by how empty and pretentious the conference itself was; many of the expressions were very bureaucratic in English but completely devoid of content, so I quickly wrote this article. This chapter is short, but at the time, amidst a general climate of praising Trump's leadership in crypto, I was trying to glimpse another side of the issue.
April 19
In-depth comparison of ten encrypted payment cards: from application process to fees.
Dc (X: @HanzoDC): We conducted a systematic evaluation and comparative analysis of ten representative encrypted payment cards on the market. It took a long time to collect data, conduct interviews, compare domestic and foreign user needs and experiences, and gather user feedback.
July 1
Leo (X: @LeoAndCrypto): I wrote this overnight after the news broke. Robinhood's announcement of stock tokenization is one of the most important moments in crypto this year. It is not only a product innovation, but also marks the formal move of core financial assets in the real world to scalable on-chain circulation. Crypto is beginning to deeply intervene in and reshape the way traditional capital markets operate.
July 11
Dingdang (X: @XiaMiPP): Although the crypto industry as a whole is sluggish, ETH did stand out this year, reaching a new high of $4,950. Yi Lihua, as a "famous bull" in ETH, also attracted attention. This article was published on the eve of ETH's surge. Although there was not much new content, it was a shot in the arm at the time.
July 17
Dingdang (X: @XiaMiPP): At that time, DAT was emerging, and it was already possible to judge that the knock-offs would not repeat the past pattern, but rather the rotation of sub-sectors dominated by the structural inflow of institutional funds. Attention shifted from traditional small-cap speculation to compliance, real yield and institutional participation. Although the market trend in the following months was bleak, the local hot spots confirmed this characteristic.
July 25
A Deep Dive into Jia Yueting's foray into RWA: Who is the new director behind the veteran actor?
Ethan (X: @ethanzhang_web3): One of the hottest discussion topics this year is RWA, and Jia Yueting's foray into crypto is quite unexpected. Initially, based on the logic of his real-world order assets, it was predicted that he would bring the pre-orders to the blockchain, but unexpectedly, Mr. Jia is more adept at it. He separates cars and crypto, establishes a separate operating system, creates a double flywheel and double bridge, and makes crypto indicators. Sure enough, the answer you can think of most directly is often not the final answer.
July 29
Dingdang (X: @XiaMiPP): This article traces the "confidence game" process of Ethena/ENA, from hundreds of millions of buybacks to stabilize prices, to on-chain data revealing potential selling pressure, and then to the strategic extension of the stablecoin compliance track and RWA layout.
August 22
The first batch of post-00s Web3 workers have begun to "leave the circle".
Golem (X: @web3_golem): In mid-2025, I personally experienced a relatively difficult period. I repeatedly wavered about why I stayed in Web3, the meaning of making money, and even my motivation to continue. It was against this backdrop that I wrote this article. It's not a grand narrative, but rather an attempt to portray the real situation of an ordinary Gen Z worker in the Web3 world: about choices, about ups and downs, and about the reasons for staying amidst uncertainty.
August 31
Where did everyone go at Bitcoin Asia this year?
Golem (X: @web3_golem): This is a travelogue, and also a record and reflection on the current state of the Bitcoin ecosystem. What I love is not dead.
September 9
The Most Comprehensive Overview of New Forecast Markets in 2025 (Part 1)
The Most Comprehensive Overview of New Forecast Markets in 2025 (Part 2)
Odaily Highlights: Tools to Double Your Trading Success Rate in Predictive Markets
Leo (X: @LeoAndCrypto): Three articles combined into one, forming a practical handbook for predicting markets.
September 29
"Post-2005 Crypto Fanatic Uh-huh: 'Binance Prince' is Just My Covert"
Golem (X: @web3_golem): Uh-huh is a young, intelligent, and controversial figure. As I said in the article, although not everyone's way of accumulating wealth is glamorous, a young person who gambles on possibilities with limited resources deserves to be recorded, no matter what.
October 16
Ethan (X: @ethanzhang_web3): The article dissected the Chen Zhi case, which involved an astonishing amount of money. At the time, the most discussed topic was the BTC storage game between China and the United States. Later, with the addition of the argument of quantum attacks, it became one of the triggers for the popularity of privacy coins such as ZEC.
October 19
Odaily Office Dealing Contest: A True Account of the Misdeeds Committed with the Boss's Money
Dc (X: @HanzoDC): A record of the "Odaily Internal Office Trading Competition". The article documents the actual trading performance, position selection, and mindset changes of Odaily colleagues with an initial capital of 200 USDT over two weeks, as well as our experiences of winning and losing, impulsiveness, and reflection in the market.
October 30
If this continues, nobody will trade cryptocurrencies anymore.
Wenser (X: @wenser2010): An article written after the October 11 crash, which only points out the problems and expresses emotions, without providing solutions or clear conclusions. It points out the deep-seated problems of the current crypto industry, and the market is facing the dilemma of both depleted growth and competition for existing users.
November 1
Why Will We Still Need Bitcoin 17 Years From Now?
Dc (X: @HanzoDC): A long article summarizing the trajectory of Bitcoin over its 17-year history, reflecting on it from the perspectives of historical cycles, institutional logic, and value philosophy: As the real world continues to expand credit and debt, Bitcoin, due to its immutability and decentralized nature, remains a key to understanding the present and the future.
November 3
Dingdang (X: @XiaMiPP): When I wrote this article, the market still regarded the rise of ZEC as an emotional rebound; but I want to emphasize that: against the backdrop of continued tightening of regulations, privacy has not disappeared, but has been repriced and new narrative models have been developed.
November 5
What is the Curator role in DeFi? Could it be a hidden trap in this cycle?
Azuma (X: @azuma_eth): November saw a surge in on-chain security incidents, with Curator (the lead administrator) becoming the trigger for several collapses. However, when searching for information in the Chinese-language community at the time, it was found that almost no one had systematically written about Curator, a figure who had essentially become a behemoth in DeFi. Therefore, an article was written to sort out his role, revenue generation logic, and risk paradox, becoming an important reference for understanding the changes in DeFi security incidents and income generation strategies during that period.
November 6
"Machi Big Brother'Starting from Zero' Story"
Ethan (X: @ethanzhang_web3): A guy with the confidence of "unlimited ammunition" and the label of "serial entrepreneur," his story is full of depth and his character is vivid and three-dimensional. From holding a record-breaking $126 million long position on Hyperliquid in July, becoming one of the platform's top whale, to his account being completely wiped out in November, this "rags-to-riches" drama is nothing new in the crypto—everyone knows him, everyone jokes about him, yet countless people still aspire to be the next him. Obsessed with "being the big boss" at the "gambling table," his fate may have been predetermined, but that still doesn't stop him from trying every means to raise money and continue opening positions.
November 11
On-chain finance, danger! Run!
Azuma (X: @azuma_eth): Starting from a comprehensive overview of the risks associated with on-chain wealth management, this article dissects how the de-pegging of high-interest stablecoins, the leverage amplification of fund pools managed by fund managers, and the lack of regulation of lending protocols interact to trigger the systemic risk of a large-scale withdrawal of DeFi funds. This also explains why I believe the on-chain risk transmission after October 11th has not yet ended. I have reviewed the logic behind this judgment from the beginning and applied it to my personal operations.
November 26
Exclusive Reveal of Exchange User Acquisition Strategies: Buy a New User for $50
Golem (X: @web3_golem): User growth remains a core challenge that the Web3 industry cannot avoid, and this statement still holds true in 2026. To this end, I interviewed the Paid Ads team of a certain exchange. They are trying to find ways to "break out" of the Web3 ecosystem using methods closer to the mainstream internet. Perhaps one day, Web3 ads will truly appear in every corner of our lives.
December 4
Why prediction markets are really not gambling platforms
Xiaohua attempts to explain why prediction markets are repeatedly suppressed yet repeatedly brought back to the forefront by capital and institutions—it doesn't challenge the bottom line of regulation, but rather the existing classification system. The real point of conflict isn't whether it "resembles gambling," but rather who should regulate it, who should collect the taxes, and whether it qualifies as a financial product. This is a power struggle and a matter of institutions, not a moral judgment.
December 12
Asher (X: @Asher_0210): This article summarizes the true process of the airdrop farming industry in 2025, from "gold everywhere" to "winter and involution," revealing the structural changes such as a sharp decline in airdrop profits, the exit of studios, and the rise of new gameplay. It is not only an annual summary of airdrop farming techniques, but also a firsthand account of the logic of interactive revenue transformation under the bear market and suggestions for 2026.
December 28
2026, Survive: A Bear Market Survival and Counterattack Handbook for Crypto Enthusiasts
Wenser (X: @wenser2010): 2026, live on, we are with you!
