Crypto Market Shifts Towards Asset Management and Financial Infrastructure

According to BlockBeats, DWF Labs has indicated that by 2025, over $19 billion in liquidation has cleared excessive leverage from the crypto market. This shift is moving the market from a speculation-driven cycle to one driven by balance sheet structures. The supply of stablecoins has increased by more than 50% year-over-year, with over $20 billion allocated to interest-bearing stablecoins. This trend suggests that the crypto industry is evolving from merely a payment tool to a focus on asset management. The scale of on-chain real-world assets (RWA) has expanded from approximately $4 billion to $18 billion. Additionally, the share of derivatives trading on decentralized exchanges (DEX) and centralized exchanges (CEX) has quadrupled, indicating that the crypto market is rapidly transforming into a credible financial infrastructure.