The four-year cycle is dead, the "Institutional Era" is coming

【Plain Language Guide】The crypto industry is currently popularizing the "Institutional Era," and the traditional four-year cycle pattern has been declared invalid.

The core narrative for 2026 will be dominated by AI agents (agent economy), stablecoin settlement layers, and sovereign institutions. As crypto ETPs aggressively raise funds, Bitcoin volatility may become lower than Nvidia's. Investors should be cautious of the demise of sleeping L2 solutions and focus on top-tier assets and application layer revenue.

This marks the end of an "easy profit model" and the return of professionalism as a new paradigm.

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