The total market value of cryptocurrencies exceeds $3.81 trillion, with Bitcoin dominating the market landscape

Bitcoin: Market share reaches 63.7%, price breaks $120,000, institutional funds continue to flow in through ETFs, reinforcing its status as 'digital gold'.

Ethereum: Market share 9.65%, facing pressure from Layer 2 competition and gas fee issues.

Stablecoins: Total market value exceeds $240 billion, with USDT accounting for nearly 40%, becoming a core tool for cross-border payments.

Core driving institutions entering the market: Net inflow of funds into U.S. Bitcoin ETFs exceeds $15 billion, and publicly traded companies (such as MicroStrategy) are increasing their holdings.

Technological upgrades: Ethereum Layer 2 expansion reduces transaction costs, while public chains like Solana attract financing for AI computing power.

Policy easing: Hong Kong and the U.S. are advancing RWA tokenization and stablecoin regulatory frameworks, reducing compliance risks.

Main risk volatility: Bitcoin's daily price fluctuation exceeds 10%, and leveraged trading amplifies market risks.

Regulatory uncertainty: Significant global policy disparities, with some countries still banning cryptocurrency trading.

Technical vulnerabilities: Quantum computing poses a threat to blockchain security, and Ethereum forked in 2025 due to consensus layer vulnerabilities.