#稳定币生态发展 Ethereum's performance in 2025 has sent an important signal to us crypto enthusiasts — this ecosystem has fully transitioned from the experimental phase to the application phase. Stablecoin supply has surpassed $300 billion, with an annual trading volume of 46 trillion, and Ethereum accounts for 54% of the market share. What does this indicate? Ample liquidity, rich interaction scenarios, and faster landing of new projects.

The most critical factor for the comprehensive maturity of the Layer 2 ecosystem — Base, Arbitrum, zkSync fees have already entered sub-cent levels, which means the cost of participating in new projects has dropped significantly again. DeFi lock-up exceeds $93 billion, and Uniswap's annual trading volume has broken 1 trillion, these data points reveal a continuous stream of airdrop opportunities behind them.

Institutional entry into stablecoins, JPMorgan launching tokenized funds, and the establishment of AI Agent identity standards all indicate that the entire ecosystem is evolving towards institutionalization and standardization. For us, this is not a risk signal but rather a participation window — the more mature the infrastructure, the easier it is to identify genuine projects and avoid risks.

Our current strategy is clear: lock in new project interactions on Layer 2, focus on DeFi applications related to the stablecoin ecosystem, and seize the dividend period during the institutionalization process. Lower costs, more opportunities, and even more controllable risks.