The 2021 bull market branded cryptocurrencies as speculative tools. However, after two or three years of market baptism, the situation is changing. The industry is gradually moving away from reckless expansion, shifting from purely speculation-driven to utility-driven, and this transformation is becoming more and more evident.

Today’s blockchain technology is taking root and sprouting in various fields. Stablecoin transfers can be completed within 1 second, costing less than one cent—what does this mean? A new generation of startups is building channels between stablecoins and traditional payment systems, enabling real-time cross-border payroll, and allowing merchants without bank accounts to receive global payments. These scenarios, once considered fantasies, are now becoming reality.

In the DeFi space, truly useful tools are emerging. Automated liquidity protocols can intelligently allocate assets to the highest-yielding markets, allowing ordinary investors to access customized asset management services without professional teams. What about prediction markets? They have been called “the closest thing to a crystal ball” by industry analysis firms, with information value being quite high.

The implementation of these practical applications is reshaping the core value of crypto assets. Bitcoin is no longer just a speculative asset but is gradually evolving into digital gold; Ethereum has also broken through the limitations of a token issuance platform, becoming a candidate for future financial infrastructure.

Here's an interesting data point: a survey of fund managers by U.S. banks shows that 67% of fund managers have not allocated any Bitcoin. What does this indicate? There is still huge room for the adoption of crypto assets. Once technology deployment creates real demand, increased adoption will become the core engine driving prices upward.