2025 will be a year full of changes.

Author: egirlcapital member

Translation: Deep Tide TechFlow

Last year, we made only one investment, which was in Monad, and held an event for it. This is not financial advice; our personal history of gains and losses has almost all come from open liquid markets.

Here are some of our predictions for 2025

Cl - 2025 will be a year full of changes, and I don't have a particularly clear view yet. But in the long run, I believe the end of this cycle may be marked by people's aversion to "memecoins" or "shitcoins," and even to tokens themselves, as well as a general disdain for gambling and speculative behavior. These actions may be seen as very lowbrow.

While there won't be another large-scale collapse like FTX, celebrities and crypto Twitter (CT) influencers may extract more value from their fans and followers, potentially exceeding the losses of LUNA and FTX combined. However, this is still just a midway point; I think the market may first experience a "false prosperity" for a while.

Scott - Venture capital firms are expected to announce new crypto funds, primarily benefiting from the rising interest of LPs (limited partners) in crypto investments, driven by declining interest rates and regulatory clarity brought by the new U.S. government. To attract investments for new funds, companies that have underinvested in the past year may deploy their unused capital more aggressively to improve market image. Meanwhile, the improved regulatory environment in the U.S. may draw more attention to non-token infrastructure companies (like Bridge, Fireblocks, and Circle), as their paths to IPO or strategic acquisition become clearer.

degenspartan - Six-figure prices will become the new norm in the crypto market. Actions that restrict people's direct access to cryptocurrencies or related tools are akin to a state or corporation indirectly boosting poverty. Traditional finance (TradFi) will continue to try to understand and discuss our "magical internet money." However, there won't be a widespread DeFi revival, only those traditional finance individuals who have been "stuck" in a cycle. New entrants from traditional finance may not yet realize that MicroStrategy is essentially an upgraded Grayscale Fund 2.0, just with a Sailor Moon mascot as a symbol. MKR may successfully rebrand itself as "CUCK." The short-term lack of marginal buyers does not negate the existence of a super cycle (real), and "infinite dollar-cost averaging ETFs" will continue to drive demand for Bitcoin. The importance of on-chain metrics may peak in 2025, but as activity gradually shifts to closed ecosystems, their relevance may begin to decline. Additionally, in 2025, Hentai will still be the top search term on Pornhub.

eva beylin - Everything is a Meme, so all cryptocurrencies can be seen as meme coins. In 2025, new Memes will continuously emerge. In the traditional meme coin space, capital and attention may concentrate on a few top Memes. The liquidity lessons from 2020 regarding short-term speculative tokens hope to make savvy investors realize that Memes also need to scale. Bullish on DOGE because regular people love dogs, and DOGE has been given a certain "governance" significance. I am slightly concerned about Saylor's continuously rising average purchase price. The Meme of ETH continues to explode, with the anger, pride, and R&D results accumulated during the bear market brewing. Many underestimate Ethereum's advantages over Solana, as Ethereum's innovation at the dApp layer consistently leads, with many projects like Polymarket, Farcaster, CTG, Privacy Pools, Eigenlayer, etc., based on EVM set to launch in 2024. Those who "spiritually short" Ethereum Memes due to entering late are not too late. Infrastructure, wallets, and development tool Memes that survived the bear market and still have product-market fit (PMF) will show stronger market resilience, as they have proven long-term utility. Privacy Memes are still worth looking forward to. Additionally, I am bullish on U.S. crypto Memes for the first time because Roman and Alexey have been released.

ctsAI - AI related tokens will become another category of Meme coins. In this cycle, AI agent tokens will occupy an important position, but ultimately may become just a fleeting trend like NFTs—though there will be strong adoption and price increases, the hype won't last long. The speculative fun in the market and the accompanying nihilistic sentiment will continue to exist. People will more commonly recognize that most crypto activities are essentially speculative. Bitcoin (BTC) reaching $100,000 will become the new norm. The EVM ecosystem will continue to dominate, as its ecosystem matures and attracts more developers and projects. However, the Ethereum mainnet may lose some of its dominance. The Solana and Move ecosystems will continue to grow and maintain significance, but are still viewed as alt chains.

The importance of Layer 2 solutions will continue to rise, as they provide a better user experience (cheaper and faster). People will realize that App chains are actually quite good, as long as you call them L1 (Layer 1), everything can be "L1." The market premium for L1s will remain strong in the coming months but may gradually decline afterward. Developers will begin to build "real" applications, but the impact of these applications may not be immediately apparent. As for what these "real" applications actually are, it remains uncertain. Zero-knowledge technology (ZK) will become the foundational technology for scalability, ubiquitous and inevitable. zkVMs like sp1 and r0 will compete for dominance, but their importance as a technology category will not be overlooked. Almost all projects combining AI and crypto will turn into "zombie companies" after experiencing a short-term explosion, with only a few projects finding practical application scenarios, but their adoption levels will be far below expectations. The concept of Bitcoin staking may be realized, while the launch of op_cat remains uncertain. AI indeed makes launching new projects cheaper and faster, but it does not fundamentally change the industry landscape. The developer experience (DevEx) and clients for Ethereum will improve, thanks to the efforts of Georgios and the ‘digm and Ithaca teams.

devops199fan - Under President Trump's leadership, the U.S. passed some reasonable regulatory bills (unlike SAB 121, which was vetoed), we have entered the "U.S. DeFi™" golden age. Multiple countries are beginning to hoard Bitcoin (BTC). We will see more days where ETH ETF inflows exceed BTC, while the launch of a spot SOL ETF will establish cryptocurrencies as a new asset class and become the new darling of traditional finance (TradFi). Another U.S.-based centralized exchange will begin to compete fiercely with Coinbase. DegenSpartan continues to sell off but no longer tweets about it.

emily - The U.S. government continues to expand the fiscal deficit, and investors are increasingly leaning towards alternative assets like gold and Bitcoin (BTC) to diversify away from U.S. assets. However, Bitcoin's upside potential is limited as it has already been highly financialized. The state is more inclined to hold gold for asset diversification. MicroStrategy (MSTR) will continue to raise funds to buy BTC, ultimately leading to an epic market crash due to its size, while other cryptocurrencies continue to languish.

popcornKirby - There is nothing particularly controversial—there are only two months until the election ends, and traditional finance (TradFi) has not had enough time to allocate funds to the crypto space. **In the new year, I expect to continue seeing a large influx of funds into crypto products (like ** ETFs ** or crypto funds).** Other countries may rush to adopt strategic Bitcoin reserves before the U.S.

**knlae // 0xKOL - The market in 2025 will revolve around Bitcoin (Bitcoin), stablecoins (Stablecoin), *AI* and Fartcoin. Despite being driven by macroeconomic factors and the potential impact of AI, this year will be full of uncertainty, but the overall market trend remains bullish.

Bitcoin is gradually achieving institutionalization, becoming a mainstream financial asset. Separately managed accounts (SMAs), recommended allocations in model portfolios, and its financialization (like options, lending, and Bitcoin banking) will push BTC prices to break $250,000, becoming the preferred asset in the market. However, discussions about "strategic Bitcoin reserves" are considered a scam, lacking practical supporting reasons.

AI is both an exciting trading opportunity and a complete scam. Multiple projects with market caps exceeding $50 billion are expected to emerge, driven by the sentiment of the cycle's end and accompanied by existential concerns about AI. Fartcoin will surpass all meme coins but will not exceed DOGE. Macroeconomic uncertainties remain, including Trump's tariff policies, fiscal policies, the suspense of whether Elon!DOGE and crypto regulations will "pass." However, due to the market's decentralization, cryptocurrency prices will rise indiscriminately throughout the year, exhibiting characteristics of small cycle trading. The four-year Bitcoin cycle will be thoroughly broken. Crypto regulation is on the way, and we can only hope its impact is positive.

Feir - The impact of the super cycle will primarily focus on Bitcoin (BTC), while other altcoins will only receive brief attention during localized time periods. Due to the dispersion of market attention, it is difficult to see a "alt season" like in 2017, where a wave of altcoins collectively surged. The upside potential for old coins is limited, and the market's focus will shift to AI and some emerging meme coins. Winners will continue to consolidate their advantages, becoming the dominant players of this cycle. Meanwhile, Elon Musk will continue to stir things up through Memes, and I will be unable to resist buying at the peaks.

miyu - An increasing number of projects are beginning to focus on horizontal expansion, trying to take control of more of the tech stack. Solana's market position is being threatened by other blockchains based on SVM (Solana Virtual Machine), which is gradually narrowing its original moat. The lifecycle of meme coins (symbolized by ouroboros, or "self-consuming cycle") is becoming shorter, with hype coming quickly and leaving just as fast. AI agents are becoming a new trend similar to NFTs, with their popularity rising rapidly. Meanwhile, the reflexivity and decentralization concepts in the market are prompting a renewed recognition of their importance, potentially driving more innovation and discussion.

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