By 2025, the total amount of venture capital in the cryptocurrency field will reach 34 billion US dollars, doubling from 2024 According to Cointelegraph Research, the total amount of venture capital in the cryptocurrency sector is expected to reach $34 billion by 2025, doubling from $17 billion in 2024. Among them, the tokenization of real-world assets has become the dominant narrative, with a financing amount of over 2.5 billion US dollars. There has been a significant shift in investment logic: institutions prefer projects with sustainable income models and clear market matching, resulting in a delay in the financing stage. Seed round financing decreased by 18%, while B-round financing increased by 90%. The total market value of tokenized RWA has exceeded 38 billion US dollars, making it one of the fastest-growing cryptocurrency sectors. However, compared to the traditional market with a global scale of millions and billions of US dollars, there is still huge room for development. At the same time, the financing heat of Ethereum Layer 2 and modular infrastructure has sharply declined, with a financing amount of only $162 million in 2025, a decrease of 72% from 2024. The report suggests that this is due to the saturation of the L2 ecosystem and the full release of investment demand.