2025 was a reality check for crypto.
Less noise. Less speculation.
More structure, real cash flow, and institutional behavior.
Binance Research’s full-year report makes one thing clear: what worked in 2025 wasn’t hype — it was fundamentals.
Capital rotated toward: • Infrastructure with real usage
• Yield tied to actual activity
• Regulated, institution-ready products
Memecoins and empty narratives faded fast once liquidity tightened. What survived were systems that could justify their valuation with revenue, settlement, or adoption.
That shift matters for 2026.
The next cycle doesn’t look narrative-led. It looks adoption-led.
Tokenization, RWAs, compliant DeFi, and onchain financial rails are pulling in long-term capital. Institutions aren’t chasing stories — they’re allocating to structure.
2025 filtered the market.
2026 builds on what passed the test.
#Daniel_BNB1