Is it still contracts or spot? This question has become outdated by 2025.

The real watershed is: can you do swing trading?

Many people are still using outdated tactics. The old saying "spot trading is risk-free" has become a trap, with a large number of people holding on stubbornly, suffering alarming losses—80%, 90% loss margins are common. Back then, some even advised only trading spot to avoid contract risks; over time, it would naturally be profitable. But the market has evolved, and we're no longer in an era where you can double your money just by lying around.

Some traders I know are die-hard spot holders, and now they have lost about 90% of their capital. Want to break even? You need a 10x increase. Realistically, such a comeback is basically a fantasy.

The market is cooling down. The entire ecosystem is increasingly resembling traditional finance—volatility narrows, opportunities become scarce. In the previous bull market, a couple of thousand-fold coins emerged, and hundredfold coins were not uncommon. Now? You hardly see such monsters in the secondary market. With hundreds of tokens on exchanges, at most one or two can rise 1-3 times, and your chances of catching them are ridiculously low.

So whether it's contracts or spot, there's only one strategy: take a bite and run. Being able to steadily capture a 10%-30% increase is already considered a good achievement. Accumulating small wins is the only way to eventually achieve big wins.

The fundamental keys to making money are always two: large capital and big volatility. When volatility disappears and red profits are exhausted, the dream of turning around with a single coin should be awakened.

By 2025, the way to play in the crypto world ultimately boils down to swing trading. Forget those stories of "one coin turning around dozens of times"; that's not strategy, that's gambling.