The crypto market has recently shown a slight downward trend, with Bitcoin maintaining around $87,000. Market expectations suggest that the largest options expiration in history could become the next variable. Meanwhile, positive signals from regulators have emerged—by 2025, SEC filings are expected to reach a record high, making the crypto sector a major driving force.

Regarding specific coin performance, ZBT broke through the $0.16 threshold in a short period, with a 24-hour increase of over 55%; USD1's market cap surpassed $3 billion, a growth of 7.68% during the same period. According to the latest ranking data from Cryptorank, BNB Chain remains the top tier in daily active users among L1 public chains.

In ecosystem developments, DeFi has become a focal point of discussion. From a governance perspective, personnel changes related to Uniswap have attracted market attention; institutional lending also saw new progress, with Maple Finance reaching a new high in lending volume. Not only DeFi, but topics like Ethereum upgrades and Perp DEX governance updates are also continuously evolving.

A particularly noteworthy area is the prediction markets sector. By 2025, this niche is accelerating into mainstream view—brokers, sports platforms, and crypto products are all speeding up their deployment, and market demand has been fully validated. However, the true turning point in competition has already shifted: rather than product innovation, the key to success lies in whether scalable implementation can be achieved under regulatory constraints. Differences in global regulatory environments, divergence between on-chain solutions and compliance pathways are reshaping the competitive landscape of the entire sector.