Is there really a chance for cryptocurrencies to turn things around? Asking a hundred people will get a hundred different answers.

Looking at the crypto market in 2025 makes it clear — it’s two completely different worlds. Some have timed the market perfectly, with assets multiplying tenfold in three months; but on the other hand, after many new coins launch, they often plummet straight down, with many falling 90% below their issuance price. Many investors who follow the trend end up losing everything.

Where is the problem more painful? The huge differences in global regulatory policies. Some countries are embracing cryptocurrencies, while others are strictly regulating. The domestic attitude has always been very clear — exercise caution. Besides that, the market hot topics update at an absurd speed. A new concept just gains popularity for less than three days before being overshadowed by the next one. Ordinary investors trying to profit from hot trends face risks higher than catching flying knives in a tornado.

However, don’t be completely pessimistic. Stablecoins are indeed signaling some things. On May 21, 2023, Hong Kong’s Legislative Council passed the Stablecoin Bill, and shortly after, the digital currency-related sectors in A-shares experienced a surge in limit-up days. This shows that policy-friendly signals can indeed stimulate market reactions. But frankly, based on the current situation, these are mostly short-term catalysts for speculation and cannot support a truly big market rally.

For cryptocurrencies to really become a hot trend, it probably still requires more time and policy signals. Right now, it’s more about observation and preparation.