Fear is the perfect time to take action.

The 2025 downturn caused many retail investors to lose everything. But I remember Warren Buffett's words: "Be fearful when others are greedy." As a seasoned veteran who has experienced multiple bull and bear cycles, I believe 2026 could very well be the year retail investors turn things around.

The data is clear—by 2025, retail investors' holdings in Bitcoin and Ethereum decreased by about 15%. This is no small matter. What does it mean? Institutions are quietly accumulating, while retail investors are cutting losses and giving up. But looking at history, we know that markets often brew new life during the most desperate times.

So the question is: in a 2026 market dominated by institutions, how can retail investors survive? How can they profit?

**The market landscape has changed, and so must the strategies**

I firmly believe that 2026 will be completely different from 2021. The era where "anything with a shanzhai (copycat) label could rise" is over. Future gains will be increasingly concentrated—only a few truly valuable projects will stand out.

There are three major changes happening now:

**Narratives no longer work; real value is what counts.** Investors are starting to analyze blockchain projects like tech companies, focusing on revenue-generating ability and whether the business model can be sustained.

**Liquidity is beginning to differentiate.** Many shanzhai coins will collapse due to lack of buyers, while the liquidity of good projects will become more concentrated.

**Institutional preferences are starting to dominate pricing.** Massive inflows of institutional capital are directly rewriting valuation systems and market preferences.

In this environment, retail investors need to adjust their mindset—from speculation to genuine investment. When choosing projects, don’t just look at the story; focus on fundamentals.