Nick Tomaino, founder of 1confirmation, has declared that the era of easy money in the cryptocurrency industry will conclude by 2025. He highlighted that the total market capitalization of cryptocurrencies stands at $3.1 trillion, marking a 14% decline over the past year. Tomaino emphasized that venture capital pump-and-dump schemes, meme coins, and decentralized autonomous tokens have failed, signaling a shift in the industry. Tomaino noted that 2024 marked a significant milestone as products not reliant on token speculation, such as Polymarket and stablecoins, outperformed others. He stressed that future excess returns will depend on the development and use of such products. Tomaino also pointed out that only Bitcoin (BTC) and Ethereum (ETH) possess credible neutrality, amidst a macro trend of declining trust in institutions and the growing importance of the internet.