To be honest, what has happened in the crypto space over the past decade may seem lively, but the true determinants of market trends have never been the emotions of traders, nor the opinions of some influencers, nor a single report from an institution.

The only thing that truly matters is capital.

Capital doesn’t spin stories, it doesn’t speak of sentiment, and it has no loyalty. It only does one thing—look for two things: lower risk and higher efficiency. It is this cold, rational choice that is driving a profound and irreversible shift in the flow of global funds.

**The ceiling of centralized exchanges has appeared**

Over the years, CEXs have carried most of the crypto financial activities. But as the market grows larger, problems become more apparent: assets are in your hands, but control is not. Platform black-box operations, custodial risks, single point of failure vulnerabilities, regulatory uncertainties—these are not minor issues; they are structural problems.

Users are gradually awakening to an essential question: why can’t I have control over my assets?

The sensitivity of capital to these changes is always faster than human reactions.

**Decentralization is no longer just a slogan; it has become infrastructure**

The concept of DeFi is not new, but only recently has decentralized infrastructure capable of supporting institutional-grade funds with sufficient stability and reliability begun to take shape. Next-generation public chains and execution environments are addressing past performance bottlenecks and security risks, giving capital better options.

This is not just a trend prediction; it is the result of capital voting with its feet.