Bell Curve 2025 Year in Review
Dec 26, 2025
Dive into a lively recap of 2025, spotlighting the year's biggest winners like prediction markets and exchanges, and the unfortunate losers in infrastructure and gaming. Discover the thrilling comeback stories of Euler and the ICO renaissance. The hosts dissect the most overhyped projects, critique the decline of crypto Twitter as a reliable source, and celebrate resilient projects dubbed 'cockroaches.' Don't miss insights on the best and worst calls of the year, as well as a teaser for the upcoming 2026 predictions!
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Crypto Hit A Consolidation Inflection
- 2025 felt like a consolidation year where Ethereum, Solana and a few winners absorbed attention and builders.
- Crypto is entering a product-focused era with institutions deploying capital and better user experiences.
Shorter Hype-To-Consolidation Cycles
- Cycles in crypto are compressing: rapid speculation, then musical-chairs consolidation and a long multiple reset.
- Winners emerge after painful consolidation and valuation re-rating across sectors.
Winners Favored Real Revenue And Audiences
- Category winners shifted toward established platforms and revenue-rich primitives like Polymarket, Robinhood and Morpho.
- Early-stage token-first bets face tougher scrutiny as markets prize durable business models.