The crypto market of 2025 is different from past cycles. Traditionally, bull runs followed a predictable pattern: Bitcoin runs first, then Ethereum, followed by new Layer 1s and alternative tokens (alts), and finally, meme coins and speculative assets. However, this time, things are more fragmented. There are more coins than ever, and for the first time, we see clear winners and losers in the aftermath of the last cycle. Some believe we’re at the peak, while others argue that this is just the...