The cryptocurrency market exhibits a sine wave like fluctuation pattern, experiencing ups and downs. Despite the slowdown in the venture capital sector, underlying activity is showing a bullish trend, thanks to regulatory headwinds, government policies supporting cryptocurrencies, strong trading flows, companies such as Robinhood increasing their investments in cryptocurrencies, and deep intersections between cryptocurrencies and related industries. After reaching its peak in 2022, capital deployment significantly decreased in 2023, began to recover in 2024, and significantly accelerated in 2025. In the second quarter of 2025 alone, there were 31 transactions exceeding $50 million, driven by late stage financing such as IPOs, mergers and acquisitions, and debt financing. So far, the cryptocurrency market has attracted more capital ($16.1 billion), but cryptocurrency venture capital (VC) is similar to traditional venture capital, with capital concentrated in a few funds. When capital is concentrated, there is usually a larger investment amount but a decrease in trading volume. This reflects that many cryptocurrency companies are entering a growth stage, while also indicating that the financing environment is more competitive than ever for founders and investors.
Multiple forces work together to make this cycle unique. Token prices are rebounding, new products are constantly being launched, founders’ confidence in entering the industry is increasing, and regulatory tailwinds provide clarity for stablecoins and digital assets, thereby releasing more capital. For many years, regulatory uncertainty has been causing friction between innovators and the Web3 field due to concerns about possible legal retaliation. With the Trump administration’s friendly attitude towards cryptocurrency, we have witnessed the cornerstone of on chain adoption manifested through legislation such as the Genius Act and Clarity Act. Although we cannot determine the profound impact of these bills on the future, what is certain is that these discussions and actions will reduce investment hesitation in this field, both intellectually and financially. In addition, it is expected that the Federal Reserve will cut interest rates in November, which will drive more capital inflows into risk assets, and the Digital Asset Trading System (DATS) will lock capital in long-term assets. Investors’ risk aversion has decreased, and capital flows have become more enthusiastic.
Investment allocation has changed, with one-third of capital flowing towards opportunities from the bottom up, such as perpetual contracts, token issuance platforms, predictive markets, and new decentralized finance (DeFi) primitives. The remaining two-thirds are targeted at “top-down” projects, including digital asset trading systems, real-world asset tokenization (RWA), exchange traded funds (ETFs), and companies entering the public market. These public market assets dominate this cycle, which in turn makes it easier for the wider public to access cryptocurrency assets, a sign of the healthy development of the industry. This balance indicates that the market is maturing and prioritizing the integration of innovation and traditional finance.
There is currently a brief window of time for the development of a legislative blueprint for cryptocurrency, and under the leadership of the current government that supports cryptocurrency, this window will exist before the 2026 midterm elections. The DeFi Education Fund has submitted a response to a request for information on the structure of the digital asset market to the Senate Banking Committee and recently released a discussion draft of the Responsible Financial Innovation Act 2025, aimed at protecting software developers. Last week, the Wyoming Blockchain Symposium 2025 focused on digital asset regulation, emphasizing the urgency of establishing clear encryption regulations in the United States and the need to balance market structure. Members of the current government attended the seminar, with the agenda being to promote forward-looking regulation. Entering the first quarter of 2026, we can expect to establish a more solid foundation from a regulatory perspective, which has never been seen in previous cycles, especially in times of tight deadlines.
Registration invitation code for high rebate fees on digital currency exchanges
Friends who speculate in cryptocurrency do not yet know that the accumulated transaction fees are very high, and they do not even care about this amount of fee. Little do they know that frequent transaction fees are also a large expense: they may even exceed your principal.
Open the relevant cryptocurrency trading app to check the transaction fees, and you can see your transaction fees for the past year,
For brothers with high-frequency trading and large positions, it may only take one month for your transaction fees to exceed the principal.
So it is necessary to apply for rebates, and the handling fees should be taken back. If you don’t apply for rebates, everything will go to the market. If you apply for rebates, the handling fees will be returned to your own account, saving you at least hundreds or thousands of U in handling fees per month.
The system will automatically return it to you
If you can save money on flowers, you can share the commission rebate invitation code below with your friends.
HTX refund fee registration code: 888ee
Gate refund fee registration code: FFFFTTTT
Binance refund fee registration code: F2222
According to the highest proportion, the handling fee will be refunded, and the invitation code will be permanently valid. The time for refunding the handling fee will be permanently valid.