Having experienced a few cycles, this has to be my favorite era in crypto, because of: 1. RWA Tokenization: The RWA market grew by $5B in Q1 2025 to $20B, projected to reach $50B by year-end. @BlackRock BUIDL fund tripled in Q2 2025 2. Crypto ETFs: There are over 235 global ETFs/ETPs with 70+ altcoin ETFs pending. U.S. Bitcoin ETFs alone are at $150.6B AUM 3. Stablecoins: Stables reached a total $200B in circulation in 2024, projected to double in 2025 . Some analysts project US-Mexico stablecoin remittances to grow 5x by 2026 amid the new 1% tax on cash remittances (starting from Jan.1 2026). In LATAM, over 40% of crypto trading volume involves stablecoins. So overall... - Users show more interest in institutional-grade yield (look at Maple's growth - The rise of crypto ETFs significantly increases accessibility for businesses that want crypto exposure on their balance sheet - Stablecoins are becoming more central to global commerce - Tokenization is expanding beyond US Treasuries: private credit, equities, commodities, corporate bonds, real estate are all poised for significant growth in FY25+ While memecoins have dominated this cycle so far, I see the growing institutional interest in crypto along with clearer regulatory frameworks as much more fundamental for this next era of onchain finance.