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Jinse Finance reported, citing DL News, that investment institutions have already injected nearly $25 billion into crypto companies in 2025, representing an increase of more than 150% compared to last year and far exceeding market expectations. This year, leading institutions participating in deals include tech-focused Paradigm and Sequoia Capital, as well as Wall Street giants BlackRock, JPMorgan, and Goldman Sachs. According to DefiLlama data, the hottest sectors are: centralized exchanges (raising $4.4 billion), prediction markets (raising $3.2 billion), and DeFi platforms (raising $2.9 billion). Jordan Knecht, Head of Institutional Strategy at blockchain services company GlobalStake, pointed out that projects attracting capital today must meet regulatory transparency, operational resilience, and be able to interface with traditional financial institutions and their standards. In a volatile market, investors prefer to build compliance-first, sustainable business models to lay a long-term foundation for the asset class.

Jinse Finance reported that Alliance DAO co-founder QwQiao stated on the X platform that he would not short L1 tokens, but simply cannot convince himself that they are “great investments.” However, L1 tokens are not considered “bad investments” either. With thousands of assets to choose from, it is always possible to find some quality assets. QwQiao mentioned that every asset he currently holds has a lasting competitive advantage and operates in a field experiencing exponential growth. QwQiao previously pointed out that L1 tokens lack a moat, are easily commoditized, and have difficulty capturing meaningful value, suggesting that betting on the application layer might be the way out.