2025-12-29 15:25:15

Looking back at 2025, the cryptocurrency market experienced several key turning points—each reshaping the market landscape.

At the beginning of the year, a leading exchange suffered a $1.4 billion hack, directly exposing the operational vulnerabilities of centralized trading platforms. This incident elevated the entire market’s focus on risk management to a new level. By spring, escalating tariffs and trade tensions caused crypto assets to behave like traditional macro assets, linked to the global economic situation—this was a signal indicating that the market position of cryptocurrencies was changing.

Summer marked a true watershed moment. The GENIUS Act introduced a federal stablecoin framework, bringing stablecoins from the periphery to the center stage. Meanwhile, the U.S. Securities and Exchange Commission accelerated the approval process for spot crypto ETPs, providing institutional investors with a more convenient entry point. Capital flooded in, with October setting a record for inflows, pushing market sentiment to a peak—only to be followed by a fierce wave of liquidations, demonstrating the power of leverage trading.

By the end of the year, regulatory efforts intensified, and the pace of integration across sectors accelerated. From hacking incidents to legislative frameworks, from market frenzy to risk release, these nodes are interconnected. The question is: which moment had the most profound impact on the crypto market in 2025?

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CryptoFortuneTeller

· 12-29 15:55

1.4 billion is gone directly, this cex is really outrageous, I still trust some DEXs --- Centralization of stablecoins is truly funny, what's the difference from banks? --- October's record fund inflow, but it was directly liquidated and cut, leverage is really a huge trap --- The GENIUS Act feels like the last crazy phase before regulation, authorities are coming --- From hackers to liquidation waves, 2025 has never let people rest, truly incredible --- It's good that institutions are coming in, the price of coins rises and will follow suit, there are pros and cons --- That wave of tariff shocks made me realize that the crypto world can't escape environmental concerns, reality --- To put it simply, the market has matured, no longer in the wild, purely speculative era --- Can someone tell me if it's still possible to buy now? Missing October is also quite painful

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zkProofGremlin

· 12-29 15:54

1.4 billion USD lost overnight, this is the real black swan, right? Are stablecoins really about to take off? It still feels like a false proposition. During the leverage liquidation wave in October, my friend was directly wiped out haha. Genius Act? Never heard of it, is it true? Does institutional entry automatically mean good news? I don't think so. The tariff war is in full swing, and the crypto world is caught in the crossfire. Honestly, that summer wave was the real turning point. Improving risk management by one level? Exchanges are still taking hits. Record-breaking capital inflows, but the liquidation wave is even more intense—this logic is reversed. Since the beginning of the year, it’s been nonstop, really exhausting.

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BlockchainDecoder

· 12-29 15:50

According to research, this article misses a key point—the deep restructuring of market structure caused by institutional capital inflows, which deserves further discussion. Data shows that after the $1.4 billion hack, the risk premium on CEXs has significantly increased, but the author did not quantify the impact of this shock on the diversion of trading volume to DEXs, leaving room for improvement. From a technical perspective, the launch of the stablecoin framework is indeed a watershed moment, but the "GENIUS Act" is fundamentally a contest over the Federal Reserve's minting rights—this political game is far more complex than the superficial "convenient entry," and understanding this layer is essential. Referring to Nakamoto's white paper logic, the October liquidation wave is not simply a release of market heat, but an exposure of the structural fragility of leverage, reflecting concerns over the quality of funds introduced by spot ETPs. In summary, the most impactful moment is not a single node, but the combined effect of these three actions—regulatory entry + institutional influx + stablecoin sovereignty—reshaping the entire market participant structure.

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LootboxPhobia

· 12-29 15:42

1.4 billion dollars, I really didn't expect that wave, CEX can still be so disappointing... Really? Stablecoins are about to take the stage? Why haven't I felt it yet? That wave of leveraged liquidation, I wonder how many people got caught off guard again. These days, rules keep changing, who can predict correctly? Is regulatory intervention a good thing or a bad thing? Honestly, I'm a bit confused.

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failed_dev_successful_ape

· 12-29 15:41

$1.4 billion wave really made people break out in cold sweat; CEX is still unreliable. The GENIUS Act is the real highlight; stablecoins are about to make a comeback. That liquidation wave in October cracked me up; how are the leveraged guys doing? The summer watershed is right, but the spring tariffs wave really best explains the situation. Institutional entry just like this, going all-in at once is a bit too hasty. Regulatory friendliness backfired and became even more aggressive? I find this logic hard to accept. Honestly, 2025 is just the beginning of CEX hacking incidents; afterward, it’s all their game. Record-breaking capital inflows sound great, but the liquidation tide is the real event. The entire 2025 is just patchwork; no matter how far-reaching the moment, it’s useless. Faster ETP approval is indeed good, but brutal liquidation is a more profound lesson.

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