Cryptocurrency Market Bubble and Divergence: Who Will Survive in 2026?

【Crypto World】Looking at the current crypto market, that FOMO momentum is almost identical to the internet bubble back in the day—valuation skyrocketing, some projects’ trading prices reaching over 100 times their actual revenue, yet the profits are pitifully small.

Interesting changes have emerged over the past two years. Leading projects like Bitcoin and Ethereum are now generating real yields through staking and DeFi methods, and we can finally value them using traditional metrics like P/E ratios. After doing the math, it becomes clear that many coins are indeed seriously overvalued.

History tends to repeat itself. Pets.com and eToys went bankrupt after the bubble burst, but Amazon and Google survived and even made a comeback. The current situation in the crypto space is similar: projects with poor fundamentals are being ruthlessly淘汰 by the market, but those with solid foundations are finding ways to survive.

The data is there—Bitcoin has already fallen nearly one-third from its high of 126,000, and other coins have dropped even more sharply. The general expectation is that by 2026, there will be a major market consolidation: junk coins will be淘汰, and truly valuable protocols will pass the test, laying a foundation for the long-term development of Web 3. This round of reshuffling, in a sense, is the market’s self-healing process.