Anyone who’s been here long enough can tell you that the crypto space has long been dominated by headlines about dramatic price swings, viral meme coins, and speculative trading frenzies. While these stories grab public attention, they overshadow a far more significant development: the steady construction of digital infrastructure that's quietly reshaping how we think about money, ownership, and global coordination.

This infrastructure (comprising protocols, networks, and platforms) represents the foundational layer upon which the future digital economy will be built. Understanding its importance requires looking beyond the noise of market speculation to examine the technological bedrock that makes decentralised applications, global finance, and new forms of digital cooperation possible.

Some will argue that the journey from surface-level crypto awareness to deep appreciation of its infrastructure parallels the early internet's evolution. Just as few people in the 1990s understood TCP/IP protocols while browsing the web, today's crypto users often interact with sophisticated infrastructure without recognising its complexity or potential. So, let’s go there.

Understanding crypto infrastructure

Crypto infrastructure encompasses the foundational systems that enable decentralised networks to function. At its core, this includes Layer 1 blockchains like Bitcoin and Ethereum, which serve as base settlement layers. Layer 2 solutions build on top of these foundations, provide faster transactions and reduced costs while still maintaining the security of the underlying chain.

Stay with me; beyond the blockchain layers themselves, crypto infrastructure encompasses decentralised storage networks, oracle systems that connect blockchains to real-world data, cross-chain bridges, and smart contract platforms that enable programmable money and automated agreements.

Here, the comparison to internet infrastructure development resurfaces. Just as the internet required foundational protocols like TCP/IP for data transmission and HTTP for web browsing, crypto requires its own stack of interoperable protocols. Ethereum's introduction of smart contracts in 2015 paralleled the web's evolution from static pages to dynamic applications, enabling what we now call Web3.

This infrastructure exhibits composability, allowing different protocols and applications to interact seamlessly, thereby creating network effects where each new component enhances the utility of existing ones. 

For example, a decentralised exchange can integrate with a lending protocol, which connects to an insurance platform, all running on shared infrastructure and speaking the same digital language.

The role of infrastructure in real-world use cases

Let's take a look at perhaps the most mature application of crypto infrastructure: Decentralised finance (DeFi). Platforms like Uniswap have processed hundreds of billions in trading volume without traditional intermediaries, while lending protocols enable global credit markets operating 24/7 without geographic restrictions. Let the record state that these are not theoretical experiments: they're functioning financial systems serving millions of users.

Non-fungible tokens (NFTs), despite their heavy association with speculative art markets, demonstrate infrastructure capabilities for digital ownership and provenance. The underlying technology enables everything from supply chain tracking to digital identity verification, with applications extending far beyond collectables.

Looking at another example, Decentralised Autonomous Organisations (DAOs) showcase how crypto infrastructure can enable new forms of governance and coordination. Organisations like MakerDAO govern multi-billion-dollar protocols through token-based voting, while smaller DAOs coordinate everything from research funding to community management without traditional corporate structures.

Global remittances showcase the infrastructure's practical impact. Traditional international transfers often take days and attract significant fees, especially for users in developing nations. However, crypto infrastructure enables near-instant, low-cost transfers that bypass legacy banking systems, providing financial inclusion for underserved populations.

Looking further, storage networks like Filecoin and IPFS show us how crypto principles apply beyond finance. These systems create decentralised alternatives to centralised cloud storage, with cryptoeconomic incentives ensuring data persistence and availability without relying on corporate guarantees.

Finally (for now), oracle networks like Chainlink bridge the gap between blockchain systems and external data, enabling smart contracts to respond to real-world events. This infrastructure component is essential for applications ranging from crop insurance to prediction markets.

Why infrastructure trumps hype

Unfortunately, hype cycles are inevitable in emerging technologies. Let’s look at the internet again, which experienced multiple boom-bust cycles, from the dot-com bubble to social media speculation, yet the underlying infrastructure continued evolving throughout these times. 

Crypto follows a similar pattern: speculative excess grabs headlines, but fundamental infrastructure development goes on regardless of market sentiment.

→ Layer 1 blockchain innovation continues advancing despite price volatility. 

→ Ethereum's transition to proof-of-stake reduced energy consumption by over 99% while maintaining security. 

→ New consensus mechanisms and scaling solutions emerge regularly, addressing earlier limitations through technological iteration rather than marketing promises.

Take Layer 2 scaling solutions for instance, these have matured significantly, with platforms like Arbitrum and Polygon processing thousands of transactions per second at fraction-of-a-penny costs without making front page news. These developments solve practical problems that enable broader adoption, creating value through utility rather than speculation.

Infrastructure ensures long-term utility by focusing on fundamental capabilities rather than short-term price appreciation. A robust smart contract platform retains value whether tokens cost $10 or $10,000, because its utility derives from enabling new applications and business models, not from speculative trading.

Public blockchains: root access for everyone

Now, for public blockchains. These provide something unprecedented in digital systems: root access for ordinary users. In traditional computing, root access gives complete control over a system, typically reserved for administrators. Public blockchains extend analogous privileges to anyone with an internet connection, enabling direct interaction with global financial infrastructure without permission from intermediaries.

This represents a fundamental shift in digital sovereignty. Users can hold assets, execute contracts, and participate in governance without relying on banks, corporations, or governments to maintain accounts or process transactions. The infrastructure operates according to transparent rules encoded in software rather than opaque policies subject to change.

Shared governance emerges naturally from this design, as protocol changes require community consensus, enabling systems to evolve through democratic participation rather than top-down corporate decision-making. Now, token holders can vote on upgrades, fee structures, and resource allocation, participating in economic governance at a scale previously impossible.

On top of this, interoperability benefits from shared standards and open protocols. This allows applications built on public infrastructure to integrate seamlessly, creating network effects that strengthen the entire ecosystem. Or a wallet application that works across multiple platforms, a lending protocol that can source liquidity from various exchanges, and identity systems that can port credentials between services.

This also means that censorship resistance can become a practical reality rather than a theoretical ideal. Transactions can now execute according to protocol rules rather than institutional policies, providing financial access to users regardless of political status, geographic location, or social standing. This infrastructure has proven particularly valuable for individuals in countries with capital controls or political instability.

Limitations and criticisms

We cannot celebrate the highs without addressing the lows. Firstly, scalability remains a significant challenge for blockchain infrastructure. Bitcoin processes roughly seven transactions per second, while Ethereum handles about fifteen, far below Visa's theoretical capacity of 65,000 transactions per second. 

Of course, this comparison oversimplifies the trade-offs involved, as Layer 2 solutions and alternative consensus mechanisms continue improving throughput while maintaining decentralisation and security properties.

Another media-preferred limitation is energy consumption, particularly for proof-of-work systems like Bitcoin. What the media don’t reveal is that the narrative of excessive energy use often ignores several factors: Bitcoin mining increasingly uses renewable energy sources, proof-of-stake systems like Ethereum consume negligible energy, and the current financial system's energy footprint includes bank branches, data centers, and cash transportation networks rarely counted in comparisons.

Looking at governance, challenges can arise from the tension between decentralisation and coordination. Protocol forks like Bitcoin Cash and Ethereum Classic demonstrate how communities sometimes split over technical or philosophical disagreements. While these events can be disruptive, they also illustrate the system's ability to accommodate different visions rather than forcing consensus.

The Bank for International Settlements (BIS) has raised concerns about trust, scalability, and institutional integration in crypto systems. Their perspective highlights important considerations: public blockchains require users to trust cryptography and consensus mechanisms rather than institutional guarantees, scalability improvements often involve trade-offs in decentralisation, and integration with existing financial infrastructure remains complex.

However, many criticisms reflect misunderstandings about ongoing development. "Crypto is too slow" ignores Layer 2 innovations that achieve traditional payment system speeds while maintaining blockchain security guarantees. "Bitcoin uses too much energy" doesn't account for proof-of-stake alternatives or renewable energy adoption in mining operations.

Enter a new paradigm: the crypto economy

The crypto economy fundamentally shifts how digital systems create value. Traditional platforms extract wealth through data collection while users provide free content and attention. Crypto infrastructure flips this model: users own platform stakes, earn tokens for contributions, and participate in governance decisions.

This infrastructure operates without geographic boundaries. A Nigerian developer receives payment from a Swedish client through the same system enabling a Singapore DAO to fund global research. Smart contracts automate complex relationships: insurance pays out based on weather data, funds rebalance algorithmically, and revenue is distributed to thousands of contributors simultaneously.

The notion that "crypto will eat the digital economy" reflects the infrastructure's potential to reorganise systems around user ownership rather than platform extraction. This is proven by the fast rate at which decentralised alternatives are appearing, institutional blockchain adoption, and government exploration of digital currencies built on similar technologies.

Concluding thoughts

While speculation captures headlines, crypto infrastructure represents a quiet revolution in digital coordination and value transfer. Like the internet's lasting value came from enabling new applications rather than domain name speculation, crypto's impact will stem from infrastructure capabilities, not token prices.

This new infrastructure reshapes how we think about ownership, governance, and economic coordination in digital systems. It provides early examples of how future digital economies might grant users greater control and participation in the systems they use.

As this infrastructure matures, its influence will extend into areas we're only beginning to imagine. The quiet revolution of crypto infrastructure may ultimately prove more transformative than any speculative bubble, creating lasting change in how societies coordinate and create value in an increasingly digital world.

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Welcome to Tap’s weekly crypto market recap. 

Here are the biggest stories from last week (1 - 7 July).

💥 XRP Jumps above $2.30 on rumours SEC may drop Ripple appeal

XRP jumped to $2.3144 on 3 July amid speculation that the SEC might drop its appeal against Ripple, fueling investor optimism. Although no announcement followed, XRP still closed the day up 1.1%, outperforming the broader market. 

Legal experts suggest both parties could soon dismiss their appeals without court approval, though some warn the process may take weeks. A breakout above $2.3275 could trigger a run toward $3.3999, last seen in January.

Read more

🚀 Bitcoin briefly tops $110K on strong jobs report and ETF inflows

Bitcoin surged to $110,591 on 3 July after a strong U.S. jobs report boosted investor confidence in the economy. The rally was reinforced by $377 million in daily inflows into U.S. spot Bitcoin ETFs, led by Fidelity, ARK 21Shares, and Bitwise. 

Despite briefly pulling back, BTC is currently trading at $109,170, signalling continued strength amid favourable macro and institutional demand. Trading just 2.4% below its all-time high, analysts see potential for a new ATH if bullish momentum persists.

Read more

🧨 Rise in crypto-related physical crime

As digital wealth grows, there has been a surge in real-world heists - kidnappings and home invasions targeting crypto holders. Over 231 such attacks have been reported in the last 18 months, prompting many to seek increased personal security measures.

Read more.

🪙 Launch of the first U.S. Solana ETF with staking: REX-Osprey Solana + Staking ETF (SSK)

This new Cboe-listed ETF gives U.S. investors direct, staked exposure to SOL (~7.3% earning yield), albeit with higher fees (1.4%). Approval sets a precedent for future niche crypto ETFs

Read more.

🔍 Altcoin watchlist & meme‑coin hype for July

Market analysts are watching several altcoins (e.g. Maple Finance’s SYRUP, Hyperliquid’s HYPE, Solana memecoins like FARTCOIN) and XRP as potential breakout assets in July, backed by technical setups and macro sentiment. 

Read more.

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We’re excited to share that XTP trading is officially back online in the Tap app!

Following the successful integration of ProBit, a trusted exchange that continues to support XTP, users can now trade seamlessly within the app once again. This marks an important step in restoring access and strengthening the trading experience for our community

We know that waiting isn’t always easy, and we want to sincerely thank you for your patience and continued support throughout this transition. Your trust drives everything we do.

As always, we’re working behind the scenes to bring you more ways to access and use XTP, stay tuned for what’s next.

The Tap team.

Building a solid investment portfolio isn't just about chasing hot stocks - it's about playing smart. In today's hasty financial world, knowing how to structure your investments and plan your strategies accordingly can make or break your financial goals. So let's dive into the essentials to help you level up your portfolio game.

What is an investment portfolio?

An investment portfolio is essentially your collection of financial assets - think stocks, bonds, ETFs, real estate, and other investments all working together toward your financial goals. It's not just a random assortment of investments you've picked up along the way; it's a carefully crafted strategy designed to balance risk and reward.

The magic happens through diversification. By spreading your money across different assets that react differently to market ups and downs, you're giving yourself a better shot at riding out the lows and capitalising on the highs. Think of it as crafting a playlist: you want a mix that works together, not one song on repeat.

Experts suggest that your portfolio should align with three key elements: your tolerance for risk, your expected returns, and your personal financial objectives. When these pieces fit together properly, your portfolio becomes a powerful tool for building wealth over time rather than just a collection of random investments hoping for the best.

Why building the right portfolio matters

The difference between a well-structured portfolio and a haphazard collection of investments can literally make or break your financial future. Poor portfolio construction often leads to unnecessary losses during market downturns, missed opportunities during growth periods, and sleepless nights worrying about your financial security.

On the flip side, a thoughtfully built portfolio acts as your financial foundation - steady enough to weather storms while positioned to capture growth when markets are favourable. It's about creating a strategy that matches your personal goals and risk tolerance, not following the latest investment trend or copying what worked for someone else.

Success in investing starts with a framework tailored to you - your goals, risk tolerance, income needs, and even your personal values. It's not about the fanciest strategy; it's about one you understand and can stick to through market ups and downs.

How to build an investment portfolio

Step 1: Define your investment goals and time horizon

Before you buy your first stock or bond, you need to get crystal clear on what you're investing for. Are you building toward retirement in 30 years? Saving for a house down payment in five years? Planning for your kids' education? Each goal requires a different investment approach.

Your time horizon is crucial here. Long-term goals (10+ years) can handle more volatility because you have time to ride out market cycles. Short-term goals (under 5 years) need more conservative approaches since you can't afford to lose money right when you need it.

Here's how time influences your strategy: if you're 25 and investing for retirement, you can afford to be more aggressive with growth-focused investments. But if you're 55 and need that money in 10 years, you'll want a more balanced approach with some stability mixed in.

Connect your goal-setting to your risk profile. Aggressive growth goals require accepting higher volatility, while conservative income goals call for steadier, lower-risk investments. Many investors aim to align their goals, timeline, and risk tolerance to create a more coherent strategy.

Step 2: Understand your risk tolerance

Risk tolerance isn't just about how much money you can afford to lose - it's about how much volatility you can stomach without making emotional decisions that hurt your long-term success. Some investors sleep soundly while their portfolio swings 20% up or down; others lose sleep over 5% movements.

Ask yourself: How would you feel if your portfolio dropped 25% in a year? Would you panic and sell everything, or would you see it as a buying opportunity? Your honest answer reveals more about your risk tolerance than any questionnaire.

Conservative investors typically prefer stability over growth potential. They're comfortable with lower returns in exchange for predictable outcomes and fewer sleepless nights. Aggressive investors, on the other hand, are willing to accept significant ups and downs for the potential of higher long-term returns.

Consider using this simple scale: if market volatility makes you constantly check your account and lose sleep, you're probably a conservative investor. If you can ignore short-term swings and focus on long-term trends, you might be more aggressive. Most people fall somewhere in between - and that's perfectly fine.

Step 3: Choose your asset allocation

According to several studies, asset allocation has been shown to explain the majority of return variability in a portfolio.. This is where you decide how to split your money between different asset classes based on your goals and risk tolerance.

The main asset classes include:

• Equities: Stocks and ETFs offer growth potential but come with higher volatility
• Fixed income: Government and corporate bonds provide stability and steady income
• Real assets: Real estate and commodities help hedge against inflation
• Cash & equivalents: Keep this for liquidity and as a safety net
• Alternative investments: Private equity, hedge funds, and digital assets add diversification

Strategic allocation sets your long-term targets (like 70% stocks, 30% bonds), while tactical allocation allows for short-term adjustments based on market conditions. Most successful investors stick primarily to their strategic allocation.

Here are three examples of diversification in portfolios:

• Cautious: 40% stocks, 50% bonds, 10% cash - prioritises stability
• Balanced: 60% stocks, 30% bonds, 10% alternatives - moderate growth with some protection
• Adventurous: 80% stocks, 15% alternatives, 5% cash - maximum growth potential

Remember, there's no universally "right" allocation - only what's right for your specific situation and goals. Please contact a financial advisor for portfolio recommendations specific to you.

Step 4: Diversify within asset classes

Once you've set your overall asset allocation, it's time to diversify within each category. This means spreading your risk across different sectors, regions, company sizes, and investment styles rather than putting all your money into similar investments.

For your stock allocation, consider diversifying across:

• Sectors: Don't overload on tech or any single industry
• Geography: Mix domestic and international markets
• Market cap: Blend large, mid, and small-cap companies
• Investment styles: Combine growth and value approaches

Bond diversification works similarly. Mix different types of bonds like corporate bonds for yield, government bonds for safety, and varying maturities from short-term to long-term. Municipal bonds can add tax advantages for higher-income investors.

Geographic diversification helps reduce the impact of local economic problems. If the U.S. market struggles, international investments might still perform well. Sector allocation prevents you from getting crushed if one industry hits hard times - remember how concentrated tech portfolios suffered in 2022.

The goal isn't to own everything, but to avoid having your entire portfolio's success dependent on any single factor. This approach helps smooth out returns over time and reduces the chance of catastrophic losses.

Step 5: Pick your investments (stocks, funds, ETFs, etc.)

Now comes the tactical phase: choosing specific investments within your allocation framework. You've got several options, each with distinct advantages and drawbacks.

Individual stocks give you complete control and the potential for outsized returns, but they require significant research and carry higher risk. Unless you're prepared to thoroughly analyse companies and monitor your holdings regularly, individual stocks probably shouldn't dominate your portfolio.

Mutual funds offer professional management and instant diversification. Active funds try to beat the market through stock picking and timing, while passive funds simply track market indexes. The trade-off? Active funds charge higher fees and rarely beat their benchmarks long-term.

ETFs combine the best of both worlds: broad diversification like mutual funds with the flexibility to trade like stocks. They typically have lower fees than mutual funds and offer exposure to virtually any market segment you can imagine.

Pay attention to fees - they compound over time and can significantly impact your returns. A fund charging 1.5% annually will cost you much more over decades than one charging 0.1%. Low-cost index funds and ETFs are often favoured by long-term investors for their diversification and lower fees.

Step 6: Consider tax implications and account types

Taxes can seriously eat into your investment returns if you're not strategic about account types and asset location. The key is understanding which investments to hold in which accounts.

Tax-deferred accounts let your investments grow without annual tax consequences, but you'll pay taxes when you withdraw. On the other hand, for some accounts you pay tax upfront and enjoy tax-free growth down the line. Be sure to fully understand the tax implications before investing. 

Taxable accounts offer flexibility since you can access your money anytime, but you'll owe taxes on dividends and capital gains each year. The trick is putting the right investments in the right accounts.

Some investors choose to place tax-inefficient assets in tax-deferred accounts to potentially reduce tax drag. 

Asset location strategy can add significant value over time. 

Step 7: Monitor and rebalance your portfolio regularly

Your portfolio isn't a 'set-it-and-forget-it' deal - it needs regular check-ins to stay aligned with your goals. Market movements will naturally shift your allocation over time, and your personal situation will evolve too.

Rebalancing means adjusting your holdings back to your target allocation. If stocks have performed well and now represent 80% of your portfolio instead of your target 70%, you'd sell some stocks and buy more bonds to get back on track.

You can rebalance on a schedule (annually or quarterly) or when your allocation drifts beyond certain thresholds (like 5% away from targets). Both approaches work - consistency matters more than the exact method.

Some investors use tax-loss harvesting to offset gains and manage capital gains taxes, though results depend on individual tax situations.

Remember, the goal isn't perfect timing or constant tweaking. It's maintaining discipline and keeping your portfolio working toward your long-term objectives rather than getting caught up in short-term market noise.

Common mistakes to avoid when building a portfolio

Even experienced investors fall into these traps, but knowing what to watch for can keep you on track.

Emotional decision-making tops the list. Market swings can spark impulsive choices, but sticking to your strategy is what separates successful investors from the crowd. Discipline beats panic every time. When markets crash, successful investors either stay the course or see buying opportunities.

Insufficient diversification is another classic mistake. Putting all your money into familiar assets or one sector might feel safe, but it leaves you exposed to unnecessary risks. Spread it out across different asset classes, sectors, and geographies to protect yourself.

Overconfidence bias catches many investors who've had recent success. Just because you've had wins in the past doesn't mean you've cracked the market code. Markets change constantly - stay humble, adaptable, and stick to proven principles rather than assuming you can consistently beat the market.

Don't forget about fees and taxes either. High-cost investments and tax-inefficient strategies can quietly drain your returns over time, making a huge difference in your long-term wealth building.

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The bottom line

Portfolio management is a journey, not a one-time task. By focusing on the essentials, staying disciplined, and avoiding common pitfalls, you can build a portfolio that works toward your goals and lets you sleep easily at night. Remember, the best portfolio is one you understand and can stick with through all market conditions - that consistency will serve you far better than any complex strategy you can't maintain.

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Picture this: Bitcoin soaring past previous all-time highs, altcoins experiencing triple-digit gains, and institutional money flooding into digital assets at unprecedented rates. Sound familiar? These are the hallmarks of crypto bull runs that have minted fortunes and reshaped entire industries.

But here's the trillion-dollar question: Is 2025 going to be the year of the next great crypto bull run?

Looking at the facts: Wall Street titans are accumulating Bitcoin through newly approved ETFs. Central banks worldwide are pivoting their monetary policies. Blockchain technology is finally delivering on its promises with real-world applications that extend far beyond simple speculation. 

Meanwhile, a new generation of crypto projects is solving actual problems (from decentralising physical infrastructure to tokenising trillion-dollar asset classes).

While we’re witnessing a natural part of any market cycle; we're also observing the meeting of technological maturity, institutional acceptance, and macroeconomic conditions that historically precede the most explosive growth phases in cryptocurrency history. 

Let’s explore whether the stage is being set for another “explosive” crypto bull run.

What defines a bull run in crypto?

A crypto bull run represents a sustained period of rising prices across digital assets, typically accompanied by increased trading volumes, heightened retail interest, and positive market sentiment. 

Unlike traditional markets, crypto bull runs are often characterised by their intensity and duration, with assets sometimes experiencing gains of several hundred percent over relatively short periods.

Let’s use historical examples for reference: the 2017 bull run saw Bitcoin rise from under $1,000 to nearly $20,000, while the 2021 cycle pushed Bitcoin to over $69,000 and sparked unprecedented growth in alternative cryptocurrencies. 

These periods were marked by mainstream media attention, institutional adoption milestones, and significant increases in new wallet creation and transaction volumes.

Key indicators of a bull market include sustained price appreciation across major cryptocurrencies, increased trading volumes, growing total value locked (TVL) in decentralised finance protocols, and heightened retail participation evidenced by exchange sign-ups and social media engagement metrics.

Is 2025 the next bull run year? Current market snapshot

The numbers tell a compelling story. Bitcoin has not only demonstrated remarkable resilience throughout 2025 but has done so while institutional demand reaches new heights. The spot Bitcoin ETFs launched in early 2024 continue to attract substantial capital inflows, creating a direct bridge between Wall Street and digital assets that simply didn't exist in previous cycles.

And this institutional momentum is rippling across the broader cryptocurrency ecosystem. Major altcoins have posted impressive year-to-date gains, while the regulatory pipeline remains packed with additional ETF applications, including potential products for XRP, Dogecoin, and other established digital assets. Each approval expands the on-ramp for traditional capital seeking cryptocurrency exposure.

Meanwhile, the underlying infrastructure is showing clear signs of renewed vitality. DeFi protocols have witnessed a resurgence in total value locked, signalling that users are actively deploying capital into decentralised financial services rather than merely holding tokens. 

Exchange volumes have also consistently remained elevated compared to the bear market lows, indicating sustained engagement from both retail traders and institutional participants.

Perhaps most tellingly, this activity is occurring without the speculative frenzy that characterised previous market peaks, suggesting a more mature, sustainable foundation for potential growth ahead.

Top signals indicating a bull market in 2025

Several key indicators suggest the cryptocurrency market may be entering or approaching a bull phase in 2025. As mentioned above, institutional adoption continues to accelerate, with traditional financial institutions expanding their cryptocurrency offerings. The ongoing discussion around national Bitcoin reserves and sovereign wealth fund allocations also represents a significant shift in how institutions are thinking about digital assets.

Macroeconomic factors also appear supportive, with central bank policies potentially creating favourable conditions for alternative assets. And the expansion of global liquidity and discussions around interest rate trajectories could have an effect on investor appetite for higher-risk, higher-reward assets like cryptocurrencies.

Stablecoin market capitalisation has also grown substantially, serving as a proxy for capital ready to be deployed into crypto markets. 

Looking at technical indicators, these suggest a potential shift from Bitcoin dominance toward increased altcoin activity, historically a characteristic of bull market phases. This rotation often signals broader market participation and the beginning of what market participants call "altcoin season."

People also asked: key questions around 2025's bull run

What is driving the 2025 crypto market recovery?

It’s not just hype, it’s momentum backed by major shifts. Spot Bitcoin ETFs have cracked open the door to institutional money, and regulatory clarity has turned question marks into green lights. 

On top of that, governments are exploring Bitcoin as a treasury asset, and legacy industries are weaving blockchain into their tech stacks - and the result appears to be a market increasingly shaped by adoption, real-world applications, and broader institutional engagement.

Is it too late to invest in crypto in 2025?

Not necessarily. If historical patterns hold, there could still be opportunities within the current cycle, though past performance is not a guarantee of future results. Bear in mind that crypto markets tend to move in waves, and each wave brings fresh opportunities across different sectors and tokens. 

With the market now more mature and diversified, investors are no longer limited to chasing just Bitcoin. Timing the top is nearly impossible, but missing the entire ride? That’s a choice.

What are the top altcoins to watch in 2025?

We’re not here to give financial advice. What we can encourage you to look out for are platforms demonstrating real-world usage, developer activity, and institutional partnerships, particularly ones that have garnered increased attention. 

Let’s take a look at the developmental space as an example: Ethereum's continued evolution through its layer-2 scaling solutions, Solana's growing application ecosystem, and Cardano's academic approach to blockchain development represent different approaches to solving scalability and adoption challenges. 

It's safe to say that investors in 2025 are paying close attention to utility, partnerships, and ecosystem depth, not just price charts.

Will regulation help or hurt the bull run?

Regulatory developments present both opportunities and risks for the cryptocurrency market. Clear frameworks can provide institutional investors with the confidence needed to allocate capital, while overly restrictive measures could dampen innovation and adoption. 

The ongoing development of stablecoin regulations and international coordination on cryptocurrency policies will likely continue to influence market dynamics throughout 2025. Keep reading, keep staying informed. 

Top narratives fueling the 2025 bull run

A range of powerful tech trends and adoption themes are currently driving renewed momentum in the cryptocurrency space. Here’s a closer look at what’s gaining traction:

The intersection of AI and blockchain
The integration of artificial intelligence and blockchain is opening up new frontiers with AI-driven applications built on blockchain networks, enabling more secure, transparent, and decentralised data processing. 

This fusion is attracting significant venture capital and top-tier development talent, particularly in areas like decentralised machine learning, predictive analytics, and trustless automation.

Decentralised infrastructure: the rise of DePIN
Decentralised Physical Infrastructure Networks (DePIN) are creating new economic models for real-world infrastructure. By using blockchain incentives, these projects decentralise everything from wireless connectivity to energy grids.

Instead of relying on centralised providers, DePIN networks reward individuals and communities for building and maintaining critical infrastructure, laying the groundwork for more resilient systems.

Web3 gaming and the evolving metaverse
Web3 gaming continues to mature, shifting away from early speculation toward sustainable economic models and improved user experiences. Games are integrating NFTs and tokenised assets in ways that enhance gameplay, rather than distract from it. This evolution is drawing interest from both mainstream users and institutional investors, as gaming platforms begin to offer real value ownership and more immersive digital economies.

Tokenisation of Real-World Assets (RWAs)
Real-world asset tokenisation is becoming a key area of focus for both crypto-native projects and traditional financial institutions. 

By bringing assets like real estate, bonds, and equities onto the blockchain, these initiatives are unlocking liquidity and improving access to previously siloed markets. This has the potential to bridge traditional finance (TradFi) and decentralised finance (DeFi), while creating more transparent, efficient systems for asset management and trading.

Scalability and utility: Layer-2s and liquid staking
Scalability and network efficiency remain essential to long-term adoption. Layer-2 scaling solutions (for example, rollups) are dramatically improving transaction speeds and lowering costs on networks like Ethereum, without compromising security. 

At the same time, liquid staking protocols are enabling users to earn staking rewards while retaining access to their assets, making it easier to participate in network security without locking up funds. These solutions are pushing blockchain closer to mainstream usability.

Historical patterns: what past bull runs teach us

Cryptocurrency markets have historically followed cyclical patterns, often aligned with Bitcoin's four-year halving schedule. These cycles typically feature a period of accumulation following major price corrections, followed by gradual recovery and eventual explosive growth phases.

Analysis of past bull runs shows a thread of common characteristics, usually including progressive institutional adoption, mainstream media coverage, and the emergence of new use cases and applications. Technical indicators such as relative strength index (RSI) and exponential moving averages (EMA) have also been known to provide useful insights into market momentum and potential turning points.

The maturation of cryptocurrency markets has led to some evolution in these patterns, with increased institutional participation potentially leading to less volatile but more sustained growth phases compared to earlier cycles.

Risks and contrarian views

Despite positive indicators, there are, of course, several factors that could derail or delay a potential bull market. Regulatory uncertainty remains a significant risk, particularly regarding potential restrictions on cryptocurrency trading, staking, or mining activities. Changes in monetary policy or unexpected macroeconomic shocks could also redirect capital flows away from risk assets, as we’ve seen happen in recent months.

While the outlook for crypto in 2025 is promising, it’s important to stay grounded. History shows that periods of rapid growth can also attract speculative excess, which often leads to sharp corrections. Given crypto’s relatively small market size compared to traditional asset classes, it remains particularly sensitive to shifts in sentiment and large capital flows.

On the technology front, challenges still exist. Security vulnerabilities, scaling bottlenecks, or network failures can quickly erode trust, not just in individual projects, but across the ecosystem. 

Meanwhile, the growing development of central bank digital currencies (CBDCs) presents a new kind of competition. Their potential to reshape how people interact with digital money could influence how (and where) cryptocurrencies find their place in the global financial system.

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Final thoughts: How to prepare for a potential bull market in 2025

For those looking to enter or expand their position in crypto, education and risk management should take priority over chasing short-term gains. A clear understanding of how the technology works, how regulations are evolving, and what drives market cycles is essential to navigating this space with confidence.

Diversifying across different sectors, from infrastructure and DeFi to gaming and real-world asset tokenisation, can help balance risk while keeping exposure to growth potential. Just as important is keeping your assets secure in a market where transactions can’t be reversed.

Crypto is steadily moving toward institutional maturity, with greater regulatory clarity and more traditional players entering the market. That said, it remains a space defined by both innovation and volatility, factors that continue to attract interest from participants willing to engage with long-term uncertainty.

Whether 2025 becomes a landmark year for digital assets or simply another phase in a longer journey, the building blocks for long-term value are clearly taking shape.

Ultimately, success in this market often comes down to staying informed, staying patient, and having a strategy rooted in long-term thinking rather than short-term speculation. Crypto continues to reward those who approach it with diligence and discipline,  especially when others are distracted by the noise.

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If you're looking for a smart way to get more out of your money, here's a little insider tip: locking XTP tokens in the Tap app could be a game-changer. It’s a quick, no-fuss move that unlocks premium features, slashes your fees, and gives you access to exclusive perks (just for being a savvy user). We’re all about helping make your money work harder for you, without jumping through hoops.

Let’s talk about it: the power of premium tiers

Locking your XTP isn’t just about holding onto digital assets, it’s your key to real, everyday savings. Essentially, the more XTP you lock, the more perks you unlock. It really is just a straightforward tiered system that rewards you.

Real-world savings: where you'll see the difference

Lower trading fees

Every transaction costs less when you lock XTP for a premium account, creating significant savings for active traders. The higher your tier, the more you save on each trade, keeping more profits in your wallet where they belong.

Example: A trader making €10,000 in monthly transactions could save hundreds in fees annually by moving from Essential to Plus tier, and thousands by reaching Premier or higher tiers.

Cashback rewards that add up

Getting up to 8% Cashback on your purchases isn’t just a nice-to-have - it’s like getting a discount every time you spend. No extra steps, just more value back in your pocket.

• Coffee runs: Daily €5 coffee becomes €4.60 with the Prestige tier (8% back)
• Weekly groceries: €200 shopping trip returns €16 with Platinum tier (6% back)
• Major purchases: €1,000 electronics purchase gives you €40 back with Premier tier (4% back)

Even at the Plus tier (€300 worth of XTP locked), your 1.5% Cashback quickly adds up, especially for regular spenders.

Fee-free ATM withdrawals

Premium tiers include greater ATM withdrawal limits, saving you those pesky fees that add up quickly:

• Prestige: Unlimited free withdrawals
• Platinum: €1,000 free monthly withdrawals
• Other Premium Tiers: free monthly withdrawals up to €500.

This benefit alone can save hundreds annually for frequent travellers or cash users.

Foreign exchange rate advantages

As a premium member, you get access to exclusive exchange rates when you're travelling or shopping internationally. The higher your tier, the better the rates, meaning you can save big on every global purchase you make.

Maximising your XTP strategy

Step 1: Calculate your spending patterns

Analyse your monthly expenses across categories like everyday purchases, trading activity, and ATM usage to determine which tier offers you the best return on your locked XTP.

Step 2: Consider your lock-up timeline

The beauty of XTP locking is flexibility - you're not permanently parting with your assets but rather unlocking access to a full suite of premium features while still maintaining full control.. Note that the lock-in time frame is one year.

Step 3: Start your journey

Begin with a tier that matches your comfort level and upgrade as you experience the benefits firsthand:

1. Download the Tap app and verify your account
2. Buy your desired amount of XTP
3. Select Upgrade from the bottom menu on the home screen
4. Choose your desired plan and follow the instructions. 

Additional premium perks

Your locked XTP doesn't just save you money, it elevates your entire financial experience:

• Priority support: Direct access to premium fast track assistance when you need it 
• Higher spending limits: Up to €30,000 monthly card spending limits for Prestige members
• Exclusive market insights: Premium crypto market newsletters and insights
• Multi-currency capabilities: Seamless management of various currencies

The bottom line

Whether you're a casual user or power trader, there's a premium tier designed to put more money back in your pocket through reduced fees, enhanced Cashback, and exclusive benefits that add real value to your financial journey.

For those willing to stake their claim in the premium territory, the rewards are clear: reduced fees, elevated features, and an experience built for those who demand more from their money.