The cryptocurrency market has recently appeared calm on the surface, but things are already accelerating underneath.

BTC is hovering around 94k, seeming dull, but in fact, it is accumulating energy for the subsequent market trend; ETH has quietly risen back above 3200, maintaining a steady posture. The real eye-catcher is XRP, which has surged 25% in a week, even overshadowing Bitcoin and Ethereum in popularity.

What’s more interesting is the shift in attitude. CNBC recently changed its stance, suggesting that by 2026, the most worth paying attention to may no longer be BTC or ETH, but XRP. Analyst Tom Lee even boldly stated that ETH has a chance to reach $9,000. Bernstein’s view is even more aggressive—they explicitly pointed out that the super cycle of tokenization has already begun, and fully on-chain real-world assets are just a matter of time.

Looking at capital flows makes it even clearer—

ETFs continue to attract funds, U.S. banks can now directly help clients allocate Bitcoin, and corporate holdings policies in Korea are also relaxing. These changes are not emotional fluctuations but substantial institutional adjustments.

Market trends never appear out of thin air.

The true big cycle usually quietly lays a solid foundation before most people even realize it. At this pace, does it resemble warming up for 2026? At least, this feeling is gradually changing.