Industry Reports

According to Cointelegraph Research report, cryptocurrency venture capital is expected to reach $34 billion in 2025, primarily driven by the tokenization of real-world assets, with funding exceeding $2.5 billion. Institutional investors are increasingly focused on sustainable revenue models, leading to an 18% decline in seed funding, while Series B funding has grown by 90%. The total market capitalization of tokenized RWA has surpassed $38 billion, with significant room for growth. Ethereum Layer 2 funding enthusiasm has waned, with only $162 million in 2025, a 72% decrease.

On February 2nd, Bitcoin remained in a sluggish trend, temporarily reported around $76,850, breaking below active realized price support. Tiger Research pointed out that the shrinking liquidity of Bitcoin is a deep-rooted reason. Microsoft’s earnings report and Walshi’s nomination news caused excessive volatility in the thin market, and Bitcoin’s rebound lagged behind other assets.

Author: Citrini Research Translation: Felix, PANews The chances for retail investors to achieve high returns in the stock market are becoming increasingly slim. The underlying reason may be related to companies delaying their IPOs. Research firm Citrini has published an article exploring the issue of modern capital markets where companies tend to remain private for extended periods, leading to growth value being primarily captured by VC institutions, and public markets have largely become liquidity exit tools. Below are the details. It is simply nonsense for companies to remain private for the long term. While I personally understand the motivations behind this and do not blame founders for doing so, such actions undermine the system that originally created these companies. Fundamentally, it is a breach of the promise that allows capitalism to operate. The social contract in the United States has always worked quite well for capital markets. That's right, you might be working at a dull small business, or have a job that is not...

This report is authored by Tiger Research. What if bridging assets could be utilized? We conducted an in-depth analysis of Katana, a never-sleeping blockchain. It reinvests 100% of on-chain and off-chain yields and transaction fees into DeFi. Key Highlights Most Layer 2 solutions lock bridging assets without utilizing them. Katana deploys these assets into Ethereum lending protocols to generate yields, then redistributes the yields as incentives for DeFi protocols. Storing assets in a vault does not generate any returns. Users must deploy capital into Katana's DeFi protocols to earn additional rewards. As of Q3 2025, over 95% of Katana's TVL is actively deployed in DeFi protocols. This contrasts with most chains, where utilization rates range from 50% to 70%.

This report forecasts a target price of $185,500 for Bitcoin in Q1 2026, indicating that the macro environment remains stable but institutional capital outflows are impacting demand. On-chain indicators show the market turning neutral, with $84,000 as an important support level and $98,000 as a resistance level. Despite lowering some forecasts, it still believes Bitcoin has approximately 100% upside potential, and the medium to long-term bullish outlook remains unchanged.

Tiger Research based on the interest rate cut cycle, M2 growth, and the CLARITY Act, sets Bitcoin's Q1 target price at $185,500, representing a 100% upside from the current $96,000. Despite ETF outflows of $4.57 billion, the record high M2 indicates ample liquidity.

Written by: Zack Pokorny, Galaxy Research Analyst Compiled by: Yangz, Techub News Prediction markets have achieved a "from 0 to 1" breakthrough by the end of 2024 to 2025, establishing their position as a mechanism that aggregates dispersed information into probability signals. The upcoming applications may extend this capability, not only answering whether an event will occur but also further revealing what these events mean for asset prices and organizational decisions. We anticipate this expansion will take two forms: impact markets (Impact

Tiger Research指出，privacy technology is the decisive narrative for 2026. Monero is fully anonymous and cannot disclose information, and it is rejected by regulators for not supporting KYC or AML. Zcash offers optional privacy but can only be fully disclosed or fully hidden, with no tiered disclosure. Canton Network achieves granular permissions through Daml, allowing the provision of specific data independently, and has been adopted by DTCC.

Outlook for Bitcoin in 2026, Charles Schwab believes that the tug-of-war between overall economic trends and internal forces within the cryptocurrency market will continue. Despite significant improvements in liquidity conditions and the positive performance of risk assets, the psychological pressure brought by the "halving cycle" remains hard to ignore and may limit Bitcoin's upside potential this year. Jim Ferraioli, Director of Cryptocurrency Asset Research and Strategy at Schwab Center for Financial Research, stated that Bitcoin's price movement this year is actually influenced by "3 Major Long-Term Forces" and "7 Major Short-Term Factors." Jim Ferraioli believes that in the long run, "global

2026 will become the key year for large-scale institutional adoption of blockchain, with stablecoins being the most fundamental and largest-scale blockchain application. Trend Research believes that WLFI (World Liberty Financial) and its launched USD1 stablecoin will become one of the fastest-growing and most widely used blockchain projects. In the future era of on-chain finance, it will have comprehensive advantages such as compliance, branding, users, and liquidity, forming the infrastructure for a market worth hundreds of trillions of dollars in on-chain finance. 1. Stablecoin Explosion Is Ready to Burst "Throughout the history of financial technology, almost never have we seen such a level of global project startup. The business model of stablecoins is fostering a new wave of founders, builders, and products. They are no longer limited by geopolitical barriers. From the very first moment of product launch, their goal is the global market." 1. Growth Trend of Stablecoins

The 2025 cryptocurrency market experienced rapid shifts in narratives, with some short-lived narratives failing to develop into long-term applications. However, important trends that drive industry development also emerged, such as increased emphasis on privacy needs and the demonstration of real-world application scenarios, indicating that the foundation of market participation is continuously expanding.

As the crypto market hovers near $3.04 trillion heading into the new year, attention is shifting from short-term volatility to the major events that could define 2026. 10x Research, led by Markus Thielen, has outlined a quarter-by-quarter roadmap of potential drivers for Bitcoin, Ethereum, and the broader market.

As 2025 comes to a close, Grayscale Research has released its outlook for the year ahead, predicting that regulatory progress—particularly a bipartisan U.S. crypto market structure bill—will be the dominant force driving digital asset markets in 2026, while concerns over quantum computing remain overstated in the near term.