Crypto's Yearly Candles
David Hoffman: 2025 was slightly red for ETH and BTC, and we should prep for another transitional year in 2026.
Yearly candles are an under-appreciated and under-reviewed time frame for looking at long-term secular trends in crypto.
First, you should put your chart view in log mode – otherwise the first formative years for BTC and ETH turn invisible because the candles are just too small. Zooming out, Bitcoin’s yearly log chart is incredible – straight up and to the right – with 12+ years of logarithmic growth into mainstream adoption.
It's not too dissimilar from ETH's, though Ethereum's growth appears more erratic and choppy with what – for now – appears to be a quicker leveling off in its price discovery.
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David Hoffman
Co-owner at Bankless. Optimistic storyteller of frontier technology.
