So I’m watching this drama with TeraWulf and Bitcoin mining in general. The numbers are ugly: Q4 2025 was a disaster with revenue dropping to $35.8M from $50.6M the previous quarter. Basically, when the BTC price drops, the entire mining industry suffers. Now I understand why people are looking elsewhere.

Speaking of crypto pre-sales, the market is pretty saturated these days. I saw a project called Pepeto that has been in pre-sale, raising millions with promises of staking and multiple products. Then there’s BlockDAG with $430M raised but no visible mainnet, and Trustpilot full of complaints. Mutuum Finance tries to compete with Aave but it’s tough. Maxi Doge is another meme token. Bitcoin Hyper is a Layer 2 with a high valuation. The point is, there are many crypto pre-sales floating around, but most don’t deliver what they promise.

What’s interesting is that SHIB reached $40B with just a basic exchange, and PEPE with only hype. Today PEPE is at $1.77B and SHIB at $3.82B. So technically, there’s room in the meme market, but that doesn’t mean every new project will succeed. With BTC at $81.23K, the market is at a different point than a year ago.

If someone is considering entering crypto pre-sales in 2026, the reality is you need to do a lot of research. Audits, real team, functional products. Not just high APY or promises of 120x. That’s how people lose money. The pre-sale market is where the action is, but it’s also where the highest risk lies.