Original｜Odaily Planet Daily (@OdailyChina)
Another Christmas has arrived, and compared to the previous hot "Christmas market," this year's Christmas feels a bit quiet for the cryptocurrency market.
BTC has been fluctuating between $85,000 and $90,000; ETH has lost the momentum of its previous highs and appears somewhat dispirited; mainstream coins like SOL and BNB have struggled to recover since the "10·11 crash," drifting further away from their peak prices; as for altcoins? For many, it might just be a case of "sorry, we’re not familiar."
In a previous article titled “4 Key Words, Playing the 2025 Crypto Four Seasons Song”, we briefly reviewed the development of the industry over the past year using four quarterly keywords. Due to the article's theme and length, many experiences of industry participants were only briefly mentioned. The reason is simple: we conducted a questionnaire over more than half a month on the widely concerned theme of "annual investment review," collecting "annual investment memoirs" from various groups, including community users, crypto KOLs, well-known traders, media professionals, and crypto investors.
Here, we can see that despite the market's turbulence between highs and lows, some people remain at the table and reap substantial rewards. Of course, the other side of success is the exit of disappointed investors who cut their losses. With the help of the results and data from this questionnaire, we can glimpse the true state of investment trading in the current crypto market; we will also take this opportunity to briefly summarize "those missed big opportunities that make people slap their thighs" this year, so readers can learn from the experience and prepare for the next battle.
2025 Annual Investment Memoir: Some will inevitably grow old, but some are still young
Below is the relevant information from the “Odaily Planet Daily 2025 Annual Investment Review” questionnaire, and we will analyze it in detail from aspects such as demographics, investment performance, and areas of focus.
Questionnaire Participants: Newbies vs. Veterans? Over 60% of respondents have been in the space for more than 3 years
First, let’s discuss the demographics of the participants in this questionnaire.
According to the results, over 60% of investors have been in the space for more than 3 years, which qualifies them as "veterans." Among them:
- The group with 4-6 years in the space is the largest, accounting for about 41%;
- The group with 6-8 years accounts for about 12%;
- Those with over 8 years account for about 9%.
Compared to the "3 years and above" group, the proportion of "newbies" is relatively small, with those in the space for less than 1 year and those in the space for 1-3 years totaling 21 participants, accounting for about 38% of valid responses.
After reviewing the questionnaire, my first thought was—“No wonder the liquidity in the cryptocurrency market is poor; it turns out there are fewer newbies!” (Note from Odaily Planet Daily: Due to the limited number of questionnaires, the above conclusion is based solely on this single survey and does not represent the overall demographic structure of the industry.)
Investment Performance: Huge Gains vs. Significant Losses? Profitability exceeds 57%
This is likely the question most people are concerned about—“After a hard year of work, did I make money or lose money? Am I the only one who lost badly?”
Looking at the questionnaire results, I can only say that I underestimated everyone’s ability to make money—
- The proportion of those with significant profits (+50% or more) is 17.2%;
- The proportion of those with small profits (0-50%) is 39.7%;
- The proportion of those who broke even (essentially wasted a year) is 15.5%;
- The proportion of those with small losses (0-50%) is 15.5%;
- The proportion of those with significant losses (-50% or more) is 12.1%.
In other words, the proportion of profitable participants is close to 60%, those who broke even account for about 15%, while over 27% faced some level of loss, accounting for about one-third, which is far lower than the sentiments reflected in market opinions and community discussions. In such a volatile market, there are still more people making money, which indirectly confirms that there are indeed more experienced veterans in the current crypto market. As for newcomers, they are either still struggling in the muddy waters of the market or have already been hit hard and cut their losses.
At this point, I can only helplessly exclaim: “So many people in the group say they are losing money, and it turns out I’m the only one really losing?!”
Profitable Sectors: Meme Coins vs. Mainstream Coins? Shitcoins are still the GOAT
As for specific profitable sectors/projects/tokens, the results of the questionnaire are somewhat complex.
Unsurprisingly, meme coins (shitcoin projects) remain the go-to for making money, with about 34% of respondents mentioning that they primarily made profits from this sector (a few even mentioned inscriptions, though it’s unclear if they are serious or just pretending?);
About 26% of investors primarily profited from mainstream coins like BTC, ETH, BNB, and SOL. Considering that this year BTC, ETH, BNB, and SOL all reached new price highs at various stages, such performance is not surprising, though it also depends on whether investors took profits in time; otherwise, being diamond hands could just lead to quietly crying in a corner;
About 16% of respondents voted for DeFi, which is not surprising given that this year has been a "year of stablecoins" and many high-end financial products have emerged, coupled with the popularity of on-chain Perp DEX, DeFi has seen a "second spring";
About 12% of investors still derive their main profits from airdrop interactions. To be honest, this result somewhat surprised me, as many crypto projects have become increasingly stingy with airdrop allocations to communities in the current tightening liquidity environment, and many projects have made it a norm to "reclaim" airdrops; however, regardless of market changes, airdrops remain a surefire way for many investors to invest at low cost for high-value returns. Regardless of market conditions, there are always some "airdrop masters" steadfastly providing various active data and trading volume for the market and projects, deserving everyone's respect;
Lastly, I didn’t expect that aside from individual projects like TRUMP and ASTER, some people actually listed NFTs as a profitable sector. I can only say that I underestimated the investment capabilities of traders; being able to make money in a sector that is close to silence or even death like NFTs deserves a "wow." However, considering that OpenSea's CMO is still actively recruiting, it shows that despite market changes, some NFT collectors or traders still have faith in this sector and are using their real money to provide liquidity for the market. As a member of the "NFT old guard," it is somewhat touching.
In addition, among individual projects, some provided answers like "WET, gold, PING, Binance Alpha, DOGE," which do not hold much representative or reference value, so they will not be analyzed separately but mentioned for clarification.
Loss Sectors: Meme Coins vs. Contracts? Data validates that gains and losses come from the same source
Some are happy, while others are disappointed.
In terms of specific loss sectors and projects, the questionnaire results again reveal the harsh reality of the market.
About 28% of investors suffered heavy losses in meme coins and altcoins, including assets from the Binance ecosystem like Giggle and ASTER, as well as popular altcoins like Base ecosystem tokens (e.g., PING) and HYPE;
Another major cause of losses is "black swan events"—some lost heavily on FIL due to issues with staking service providers; others lost by betting on Polymarket; additionally, impermanent loss in DeFi protocols and high-position purchases of BTC, ETH, and SOL are common reasons for losses in the industry;
About 26% of investors stumbled in contract trading, which is slightly lower than I personally expected. As one of the few "active trading arenas" in this year's market, trading contracts for mainstream and altcoins remains a choice for many investors. Considering the unpredictable statements from Trump during his presidency, the ever-changing policies, and large-scale liquidation black swans like the "10·11 crash," losses were inevitable;
Furthermore, as representatives of the "losing sectors," NFT, GameFi, and L2-related projects have also been the source of losses for many investors, with about 22% suffering significant losses due to not timely adjusting their investment strategies and holding onto a specific type of asset;
Finally, compared to previous investment fields that were still limited to cryptocurrency, under the influence of the mainstreaming of crypto this year, stocks from DAT Financial Company have also become a choice for many investors. During the market's downward and turbulent phase, losses naturally followed: some bought MSTR, BMNR, and other DAT leading stocks, only to find themselves trapped; others suffered heavy losses on "the first stock of stablecoins," Circle (CRCL). Former cryptocurrency traders have transformed into "noble U.S. stock traders," but this change in identity does not guarantee smooth investment performance; it may also represent an additional channel for losing money.
Reflection on Losses: Timely Profit-Taking vs. Decisive Stop-Loss? Taking profits is a necessary life lesson
After discussing losses, we also included specific questions about the reasons for losses in the questionnaire, attempting to identify common issues among participants.
About one-third of respondents attributed their losses to "not stopping losses in time after being trapped," which is a common issue among cryptocurrency investors, including myself. Many have not realized that 90% or even 99% of altcoins in the crypto market only have a path to zero; only a very few tokens can rise again after hitting a low. Even then, it is likely just a wild pump to better harvest the market. This story tells us that timely stop-loss and stopping the fantasy are very necessary.
On the operational level, slow reactions, conservative operations, blind trust in news, and chasing highs and lows have become another major cause of losses, with over 45% of investors making mistakes in these areas that led to investment losses. Based on my personal observations, "becoming a first-mover capital" and waiting for others to take over may be an important strategy for maintaining consistent success in the market, which is often closely related to information sensitivity, sources of information, personal risk preferences, and the preparation of funds and equipment, making it difficult to achieve overnight success.
Finally, about 12% of respondents attributed their losses to operational errors, judgment mistakes, or industry black swan events. In such a volatile "monkey market," many times it is indeed a "non-combat fault," and investors can only silently accept their losses, adjust their mindset, and prepare to fight again next year.
What surprised me the most is that the proportion of people who attributed their losses to high-frequency trading is far lower than I expected, with only 8.6% citing this as a reason. On one hand, it may be that most people indeed engage in high-frequency trading less frequently; on the other hand, it could be that people do not have a clear standard for high-frequency trading. Some may buy and sell dozens of times within an hour but then remain inactive for the next week; others may trade 3-5 times a day, with trading days exceeding twenty in a month. Many might not consider the latter as high-frequency trading, but compared to most, they are indeed "high-frequency players."
Common Products: Perp DEX vs. Prediction Markets? Over 40% of respondents have never used prediction markets
When asked about commonly used popular products, the related data is quite intriguing.
About 40% of respondents have used Perp DEX, with approximately 40% of them being Hyperliquid users; about 22% have used Lighter; around 12% have used Aster; and about 15% have used other platforms, including established platforms like DYDX and GMX. It must be said that the enduring charm of DeFi may have been validated once again.
As for prediction markets, nearly 60% of investors have participated; over 40% have heard of them but have not engaged in prediction market betting. From this small sample data, it appears that prediction markets still have significant growth potential. In 2026, platforms like Polymarket, Kalshi, The Clearing Company, as well as prediction markets in the BSC and Base ecosystems, may continue to experience explosive user growth.
Looking Ahead: Promising Sectors vs. Investment Advice? RWA, AI, and Meme coins rank in the top three; dollar-cost averaging is key
At the end of the questionnaire, we set up two "open-ended questions": one about "promising sectors for 2026" and the other about "investment insights/advice to share."
In terms of promising sectors, RWA, AI, and meme coins ranked in the top three—
The proportion mentioning RWA reached 31%. It is worth noting that RWA here combines elements of tokenized stocks, stablecoins, and PayFi;
The proportion mentioning AI is about 25%. As the penetration of AI models and applications increases and AI-related tech companies develop rapidly, the combination of AI and cryptocurrency remains one of the highly anticipated directions among mainstream market participants;
The continued optimism about meme coins may stem from their low entry barriers and the high risks and returns compared to mainstream coins. However, I personally hold a pessimistic view on this, as it is inevitable that altcoins will be drained; the meme coin sector, which heavily relies on market liquidity, currently finds it difficult to return to the previous "blooming" phase.
Prediction markets are a "consensus" for many. The two major players, Polymarket and Kalshi, both valued at over $10 billion, along with the rapidly growing industry scale, have made more people see the development potential of prediction markets. The feature of "everything can be predicted," combined with various popular sports events and political elections in 2026, may further ignite interest in prediction markets.
Regarding specific investment advice, most people agree with the principle that "dollar-cost averaging is king" and suggest "only buy BTC," but how many can actually do this is known only to themselves.
Additionally, an interesting point is that crypto KOL @_FORAB shared a suggestion to dollar-cost average mainstream coins every Friday afternoon, which is quite clever in terms of timing; there is also a "certain group friend" who does not recommend public executions, suggesting trading after 4 PM because "that's when the foreigners wake up," seemingly viewing "foreigners" as "exit liquidity."
Humorously, six respondents provided their own "investment advice"—"buy high, sell low," which can be considered a "guide to becoming a retail investor"; others offered their judgments—"L1 and L2 are dead, stay away from contracts or set stop-losses, look for low-market-cap RWA tokens"; and some bluntly reminded: "Take profits when you make money; don’t get too excited; be bold in extreme emotions."
Here, we would like to thank all the investors who participated in this questionnaire; we also thank the following users who left their IDs for sharing their annual investment memoirs with Odaily Planet Daily readers: @wanzwa6, @FORAB, @airn619, @muzz201o, @0xJerrrry, @bcxiongdi, @GaoNew3, @anchor9960, @cryptoshouyi, @Meiko5200, @a6825272, @qinxiaofeng888, @Asher0210, @azumaeth, @ethanzhangweb3, @0xmz2987, @gold7108._
Regardless, everyone still active in the crypto market is essentially each other's "trench comrades."
The "Big Opportunities" We Missed in 2025: A Year-End Review of the Most Heartbreaking Projects
At the end of the article, I would like to briefly summarize the countless "annual wealth-building opportunities" that many people missed this year. Over the past year, numerous chances for wealth have presented themselves, but due to various factors such as capital, speed of execution, understanding, and unexpected situations, we have repeatedly brushed past these opportunities.
As we approach the end of 2025, looking back, we may be able to see more clearly whether it is "impossible to earn money beyond our understanding" or "a mere misstep in timing." Whether it is a slight regret or greater anticipation, the new year is about to arrive, and there will always be new opportunities and challenges waiting for us to conquer, explore, succeed, or fail.
Q1 Missed Big Opportunities: TRUMP, MELANIA, Swarms, PIPPIN, TST, MUBARAK, HYPE, VIRTUAL, IP, KAITO
In the first quarter, the official meme coin TRUMP, which emerged before Trump's inauguration, can be considered an "epic wealth-building opportunity of the year." Many traders in the Chinese community achieved single-coin profits of $1 million or even over $10 million, exemplifying the "one step to A8" model. Subsequently, the AI Agent concept coin experienced a brief aftershock, and the "Binance meme coin craze" led by CZ began to take shape, with test coin concepts and celebrity meme coins once again becoming market focal points. The surge of HYPE, the IP airdrop, and the subsequent tenfold increase, along with KAITO's creation of the "mouth-picking concept coin," also presented good wealth-building opportunities.
Q2 Missed Big Opportunities: Circle (CRCL) Listing, PUMP, LAUNCHCOIN, USELESS, MYX, HUMA, SAHARA
In the second quarter, DAT gradually joined the crypto battle, and Circle's "tenfold miracle" made its debut in the U.S. stock market, breaking the skepticism and pessimism of the crypto-native community regarding this compliant stablecoin. Although it still faced market impacts and struggled to maintain momentum, the "crypto IPO boom" it initiated laid a foundation for the subsequent expansion of the DAT Financial Company camp and the tokenization of stock platforms. Additionally, the chaotic battles on Launchpad platforms, developments in the AI field, and the emergence of Binance Alpha's remarkable projects injected new vitality into market liquidity, allowing many projects to complete their TGE and seize the rare "optimal market issuance time vacuum."
Q3 Missed Big Opportunities: WLFI, Plasma (XPL), ASTER, AVANT (Avantis)
In the third quarter, the most lamentable missed opportunities were two major projects: one was Plasma (XPL), which allowed users to deposit 1 U and receive tokens worth nearly 10,000 U; the other was ASTER, which offered substantial tokens for trading amounts in the tens of thousands of U. Although the former's financial activity required meeting conditions such as speed or KYC, the generous returns still made many people slap their thighs in regret. As for the latter, many lamented their losses due to "selling out the night before dawn," with some selling ASTER tokens worth millions. In the end, all one can do is sigh, "It was fate."
Q4 Missed Big Opportunities: Binance Life, 4, Giggle, ZEC
In the fourth quarter, the focus shifted to the "artificial bull market." Whether it was the Binance Life meme coins in the BSC ecosystem, strongly promoted by representatives like CZ and He Yi, or the privacy coin ZEC, which revived after the "10·11 crash," both were products of the market reaching new highs, making it difficult to simply classify them as "big opportunities." However, for the market at that time, they undoubtedly represented "the last rays of wealth creation in the crypto market this year."
In conclusion, borrowing a friend's words, "You always think opportunities are infinite, but in reality, they truly are." From a hindsight perspective, many may not have anticipated that 2025 would present so many wealth-building opportunities, and seizing just one could be enough to turn one's fortunes around.
2025, the year of crypto mainstreaming, is coming to an end; what grand waves await us in the crypto market in 2026?
See you next year.
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