According to DWF Labs, liquidations of more than $19 billion in 2025 removed excessive leverage from the crypto market, shifting the market from a speculative-dominated cycle to a balance sheet-driven market structure.
The supply of stablecoins has increased by more than 50% year-on-year, of which more than $20 billion has been allocated to interest-bearing stablecoins, indicating that the crypto industry is moving from simple payment tools to asset management.
On-chain real-world assets (RWA) expanded from about $4 billion to $18 billion, while DEX and CEX derivatives trading quadrupled, marking the acceleration of the crypto market's transformation into a trusted financial infrastructure.
DWF Labs: Crypto market to shift from speculative to balance sheet-driven market structure in 2025
2025-12-23 01:48:44
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