Cointelegraph Research’s latest report provides an outlook on the state of fundraising in the crypto market and the key VC trends of 2025. VC investments in Web3 startups doubled in 2025 from the year before, driven by institutional interest, particularly in the RWA sector, which raised more than $2.5 billion. There has also been a distinct increase in mergers and acquisitions (M&A) and other large-scale corporate financing arrangements.

Download the free report to discover important industry highlights

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The state of crypto venture capital (VC) in 2026

In 2025, venture capital investment in crypto startups exceeded $8 billion in every quarter for the first time since 2022. Total funding in 2025 reached more than $34 billion, double the $17 billion recorded in 2024. Nevertheless, 2025 can still be considered a risk-off year, as investors favored bonds and safe-haven assets, such as precious metals, which posted exceptional performance that year, amid geopolitical uncertainty and elevated interest rates.

The reduced risk appetite of venture capital also changed perceptions of business models in crypto. In 2025, fund managers prioritized sustainable revenue models, organic user metrics and strong product market fit instead of projects with early traction and limited revenue visibility. This shift was corroborated by the move from pre-seed and seed rounds toward later financing stages. Seed-stage financing declined by 18%, while Series B funding increased by 90%. This indicates deeper investor involvement in projects and a stronger focus on ecosystem development rather than early-stage experimentation.

Download the full report to explore which startups and niches attracted most attention from VCs

The trending narrative: Real-world assets (RWA)

RWA tokenization has shifted from a narrative into a budding sector over the past three years. According to RWA.xyz data, tokenized real-world assets have surpassed a capitalization of $38 billion, up 744% from $4.5 billion in 2022. RWAs have emerged as one of the fastest-growing segments in the crypto market, second only to stablecoins. Despite this growth, the crypto RWA sector remains small relative to $156 trillion in fixed-income and $146 trillion global equities markets. This suggests substantial room for further expansion.

From the investment side, the first signs of this shift are present in the progression of annual funding figures. In 2025, VC funding for RWA tokenization projects exceeded $2.5 billion. 

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Download the full Cointelegraph Research report to explore deeper insights into the RWA sector

Fading narrative for Ethereum layer 2s and modular infrastructure projects

While overall VC interest in the crypto market increased throughout the year, certain narratives showed clear signs of decline. In 2022, Ethereum layer 2 projects raised more than $1.2 billion, followed by $387 million in 2023 and $587 million in 2024. In 2025, funding reached a low of $162 million, representing a 72%decline from 2024.

This was likely caused by the rapid proliferation of layer-2 blockchains, which has led to an increasingly saturated landscape and a decline in VC appetite for this technology. As the number of L2 chains quickly increased above 50, the demand for blockspace was saturated.

See which crypto sectors are losing VC interest in the latest report by Cointelegraph Research

We would like to thank Canton Foundation, CryptoRank, DWF Labs, Everest Ventures Group, Mercuryo, and RWA.xyz for contributing data, insights, and opinions to this report.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. This article is for general information purposes and is not intended to be and should not be taken as, legal, tax, investment, financial, or other advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. Cointelegraph does not endorse the content of this article nor any product mentioned herein. Readers should do their own research before taking any action related to any product or company mentioned and carry full responsibility for their decisions. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.

As the Nvidia (NVDA) share price chart shows, the stock fell below $177 during yesterday’s session, marking its lowest level since the start of 2026.

Negative market sentiment is largely driven by uncertainty surrounding supplies to China. According to the Financial Times, Nvidia’s sales of H200 chips to China are still awaiting final approval from US authorities.

Yesterday’s statement from AMD, noting that the scale of its own shipments to China remains uncertain, reinforced these concerns and added further pressure to Nvidia shares. Previously, NVDA had been supported by expectations that deliveries of H200 chips to Chinese partners would begin in early 2026.

In addition, some media reports suggest that the stock is facing extra pressure from news of delayed investment in OpenAI, which is reportedly exploring alternative suppliers.

Technical Analysis of the Nvidia (NVDA) Chart

On 23 December, when analysing NVDA price action, we:

→ reaffirmed the long-term ascending channel, which remains intact;
→ suggested that bulls might attempt to break out of the corrective pattern (shown in red) in order to reach the channel median.

As expected (indicated by the black arrow), the price reached this target. However, January’s price behaviour offers little evidence that the uptrend has resumed with renewed strength.

Moreover, the red arrows highlight several bearish signals:

→ the median acted as clear resistance;
→ the 30 January peak (the highest level since the start of the year) formed with a long upper shadow, resulting in a false break of the previous high — a classic “bull trap”.

While bearish momentum appears to be in control, it is worth noting that:

→ the break below the 20 January low could also prove to be false;
→ the lower boundary of the channel, which has acted as key support for many months, is nearby.

Taking all of this into account, it is reasonable to assume that NVDA may find a period of consolidation in the lower quarter of the channel. A potential catalyst for the next major move could be the company’s earnings release scheduled for 25 February.

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ProShares unveiled the first U.S.-listed exchange-traded fund (ETF) designed to target the performance of the CoinDesk 20 Index, expanding options for investors seeking broad exposure to crypto markets.

The CoinDesk 20 Crypto ETF (KRYP) is the first ETF tied to the benchmark of 20 of the largest and most liquid digital assets, ProShares said in a Wednesday email.

The index is market-capitalization weighted, subject to caps, and rebalanced quarterly, aiming to provide diversified exposure while limiting concentration in any single cryptocurrency.

“As the cryptocurrency market has matured, investors have increasingly looked beyond single-asset exposure,” CEO Michael Sapir said in a statement, describing KRYP as a way to access the broader asset class through one ticker.

The CoinDesk 20 selects assets from the top 250 by market cap, applying liquidity and exchange-listing requirements, while excluding stablecoins, memecoins, privacy tokens and various wrapped or pegged assets.

ProShares already offers one of the largest suites of crypto-linked funds in the U.S., with 13 ETFs and additional mutual fund products.

Market behavior during drawdowns often forces a hard reset. Tools that help traders react faster lose relevance when volatility compresses opportunity, and liquidity dries up. This is why attention is moving away from analytics-heavy platforms toward structures that preserve value and generate utility regardless of market direction.

For DeepSnitch AI holders, the current environment has created a clear inflection point. Capital is rotating out of signal-based products and into fixed-entry opportunities with real usage and cash-flow logic.

That rotation explains why Digitap ($TAP) is seen as the best crypto to buy now, positioned as a defensive crypto presale built for recessionary conditions. As risk appetite contracts, the conversation around altcoins to buy favors platforms that move money, not just data.

Why DeepSnitch AI Holders Should Move to Digitap

DeepSnitch AI was built to solve information asymmetry. Its AI-driven agents monitor wallets, contracts, liquidity shifts, and sentiment across multiple chains, delivering alerts designed to improve trading outcomes. In active markets, that value proposition resonates. In slow, risk-off conditions, actionable signals become scarce, and analytics lose leverage as capital prioritizes preservation over precision.

The platform’s reliance on constant market activity creates a dependency on volatility. When fewer trades occur and narratives stall, demand for premium alerts softens. Token utility becomes concentrated around access rather than economic throughput, leaving holders exposed to sentiment cycles rather than structural demand.

Digitap operates from a different foundation. Instead of optimizing decision-making within the market, it serves as infrastructure for price discovery outside the market. Payments, settlements, conversions, and storage continue regardless of volatility. That distinction matters when trading edges compress and capital seeks stability over timing.

For holders exiting signal-based exposure, Digitap represents a pivot from observation to utility. It facilitates day-to-day financial operations, creating demand that does not rely on speculation. This independence is why capital migration is accelerating.

How Digitap Works and What It Actually Is

Digitap is the world’s first omni-bank, designed to unify crypto and traditional finance within a single platform. It allows users to quickly exchange crypto for fiat and fiat for crypto, bridging on-chain assets with real-world banking rails through a live, downloadable app.

At the core of the ecosystem sits the $TAP token, built around fixed supply and utility-driven demand. Total supply is capped at 2 billion tokens, with no inflation, no buy or sell tax, and no hidden minting mechanisms. Circulating supply is engineered to move in one direction only: downward, as buyback and burn activity removes tokens from the market.

$TAP is woven directly into platform functionality. The token powers staking programs, unlocks fee discounts, enables governance participation, and grants access to premium account tiers. $TAP functions as the economic engine of the ecosystem.

Demand for $TAP is tied to usage of the platform itself, not to market sentiment or trading frequency. As the app scales, token utility scales alongside it.

Crypto Presale Structure, Fees, and Real Usage

Digitap’s relevance increases in recessionary conditions, where fees and friction compound financial stress. Traditional remittance channels often charge more than 6% per transfer. Digitap compresses cross-border costs to under 1%, keeping more value in circulation and reducing erosion during periods of economic pressure.

The platform also serves freelancers and remote earners who receive income in crypto. Funds can be converted to cash and routed toward rent, utilities, or daily expenses without navigating multiple applications or intermediaries. This turns crypto into spendable income rather than dormant capital.

Privacy and flexibility are embedded through a tiered KYC structure. No-KYC wallet options coexist with higher-limit accounts, allowing different levels of access without forcing a single compliance model. Offshore banking partnerships further reduce geographic concentration risk.

The current crypto presale price stands at $0.0467, with the next stage set at $0.0478 and a defined listing price of $0.14. This staged structure introduces predictability at a time when most assets lack clear valuation anchors. Nearly $5 million has been raised, with more than 213 million tokens sold.

Why $TAP Is the Best Altcoin to Buy Now

The market is no longer rewarding speed or signal density. It is rewarding resilience. Platforms that generate economic value outside price speculation are gaining ground as liquidity remains constrained and volatility fails to translate into opportunity.

Digitap fits this environment precisely. It replaces high-frequency decision-making with structural utility, positioning itself as a financial layer that functions regardless of market direction. That is why it continues to surface in discussions around the best crypto to buy now.

Compared to analytics-driven tokens, $TAP benefits from real usage cycles tied to payments, remittances, and income conversion. This creates persistent demand and separates it from assets dependent on trader sentiment.

As capital rotates out of reactive tools and into foundational infrastructure, Digitap’s presale structure amplifies its appeal. With fixed pricing, growing adoption, and clear economic logic, $TAP defines what a crypto to buy now looks like in defensive conditions.

Presale https://presale.digitap.app

Website: https://digitap.app

Social: https://linktr.ee/digitap.app

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Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

Investors with enterprise ambitions need more than marketing slides and checklists. They need clarity about which Web3 crypto wallet providers can deliver secure, compliant, and future-proof infrastructure that supports scalable revenue models. In 2026, the winning wallet partners combine hardened cryptography, account abstraction for superior UX, and production-grade AI that meaningfully reduces operational risk and customer friction. This article is written for well-informed investors evaluating strategic bets in web3 infrastructure. It focuses on technical differentiators, observable production capabilities, and the commercial trade-offs that matter when moving from proof of concept to live financial rails. Read on for a concise technical framework, the top vendor shortlist, a head-to-head feature comparison, and a rigorous 10-question crypto wallet development company evaluation.

Why 2026 Is a Defining Year for AI-Smart Crypto Wallets?

The market dynamics making 2026 pivotal are technical, regulatory, and behavioral. On the technical side, account abstraction and smart account primitives have matured into usable production tooling, enabling programmable wallets that solve long-standing UX and recovery problems. This shift changes how cryptocurrency wallet solutions are built and consumed because it decouples signature management from the user experience and enables sponsored gas, batched operations, and policy-driven approvals. At the same time, multi-party computation and threshold signature schemes are moving from academic proofs into operational custody solutions, offering enterprises key-management alternatives that reduce single-point risk and regulatory exposure.

AI is no longer an experimental add-on. Leading teams embed machine learning for real-time anomaly detection, risk scoring, and personalized usage assistance, which materially lowers fraud losses and onboarding friction. Finally, enterprise demand is rising as financial institutions and high-net-worth services adopt tokenized assets and require wallets that can integrate with existing KYC, treasury, and audit systems. The intersection of account abstraction, MPC-class key management, and production AI is why investors should re-evaluate wallet vendors in 2026 with technical scrutiny.

Top 7 AI Cryptocurrency Wallet Development Companies of 2026

1. Antier Solutions

Antier has evolved into a platform-first provider for enterprise crypto wallets that fuse production AI, multi-model custody, and broad chain interoperability. Their white-label AI smart crypto wallet product emphasizes intelligent transaction processing, behavioral recovery flows, and predictive risk analytics designed for high-compliance environments. Antier presents architecture and runbook artifacts aimed at enterprise buyers, showing an operational approach to MPC and hybrid custody and clear support for multi-chain EVM ecosystems. For investors, Antier’s strength is not only in delivery speed but also in a repeatable architecture that embeds AI into the signing and policy layers so that fraud detection, onboarding automation, and recovery are measurable features rather than add-ons. This makes Antier the most compelling partner for institutional-grade wallet infrastructure.

2. Oodles Blockchain

Oodles brings a decade of blockchain engineering to mobile crypto wallet development projects with a service model built for custom enterprise implementations. Their wallet practice focuses on cross-platform wallets, DeFi integrations, and NFT support, and they have published explorations of AI in wallet monitoring and personalized insights. Oodles is strongest where deep integration with enterprise systems is required, including payment rails and legacy back ends. For investors, this firm is a reliable engineering house capable of producing robust non-custodial and custodial wallets quickly; their AI positioning is currently oriented toward transaction monitoring and fee optimization rather than embedded MPC. Use Oodles when you need platform engineering and rapid, audit-ready delivery for multi-chain wallets.

• Real-time transaction monitoring with rule-based AI alerting.
• Fee optimization suggestions driven by transaction pattern analysis.
• Personalized in-wallet recommendations using market and user signals.
• Integration patterns for embedding AI outputs into enterprise reporting.

 3. PixelPlex

PixelPlex positions itself at the intersection of blockchain and intelligent assistants, offering wallets that act as “co-pilots” for users. Their public material highlights proactive scam detection, predictive insights for asset management, and an emphasis on UX that reduces human error in transactions. This renowned crypto wallet provider has experience scaling projects and building wallet layers that integrate with exchanges, DeFi rails, and custodial services. From an investor standpoint, PixelPlex is attractive where productized AI features, such as proactive scam alerts and contextual recommendations, are required alongside professional-grade engineering and proven delivery for consumer and institutional clients. Expect a strong UX and AI pairing, but validate custody model specifics for enterprise risk tolerance.

• Client-side assistive AI that reduces user error and improves retention.
• Proactive scam detection leveraging behavioral and network signals.
• Predictive portfolio insights that feed in-wallet recommendations.
• Plug-and-play AI modules for rapid feature integration.

 4. BlocktechBrew

BlocktechBrew is a pragmatic wallet developer focused on white-label blockchain wallet apps with a strong emphasis on security and time to market. Their offering is oriented toward entrepreneurs and enterprises seeking complete wallet stacks, browser extensions, and mobile clients. BlocktechBrew’s AI footprint is currently focused on analytics and automated security checks that are integrated into the development lifecycle. For investors, the company represents a cost-effective engineering partner able to deliver MVPs and iterate rapidly; their strength is execution velocity rather than platformized AI governance. For portfolio companies that need fast, secure shipping of wallet products with AI-powered monitoring, BlocktechBrew is a sensible operational choice.

• Automated security and integrity checks during development and CI.
• Transaction analytics modules for post-deployment monitoring.
• White-label AI hooks for swapping in enterprise models.
• Lightweight fraud detection pipelines for early production stages.

 5. BlockchainX

BlockchainX markets end-to-end Web3 cryptocurrency wallet solutions and white-label products aimed at businesses that need rapid deployment and rebranding. Their products emphasize multi-asset support and customization for local regulatory environments. BlockchainX is best for enterprises that want a full productized wallet stack with roadmap acceleration rather than heavy R&D in cryptographic custody. Their AI claims are more conservative and typically implemented as analytics and reporting layers to aid compliance and support teams. Investors should view BlockchainX as a commercial, modular provider suitable for scaling standard wallet features quickly across geographies.

• Compliance and reporting dashboards powered by analytics.
• Customer support augmentation via AI-summarized event logs.
• Automated KYC/AML signal enrichment feeding the wallet audit trail.
• Configurable AI alerts for operational monitoring.

 6. Rapid Innovation

Rapid Innovation focuses on secure blockchain wallet development with an emphasis on UX, authentication, and integrations for web and mobile. Their public material highlights features such as multi-factor authentication, QR flows, and session controls. Rapid Innovation complements AI with applied analytics and automation that strengthen onboarding and reduce support costs. For investors, Rapid Innovation is a reliable engineering partner when robust authentication and solid engineering practices are primary goals and when you prefer to integrate third-party or bespoke AI services. Verify their custody posture and ask for AI performance metrics during diligence.

• AI-assisted onboarding flows to reduce drop-offs.
• Analytics-driven session and fraud detection.
• Modular AI connectors for third-party risk engines.
• Emphasis on secure authentication with AI-backed anomaly detection.

How Does Antier Stand Out From Other Vendors?

In 2026, market leaders will be defined by products users actually adopt, not those that are merely deployed. We build with that outcome in mind.

You must have heard Investors asking often, what does a company they hire bring them that others do not? Well, Antier has all the answers to it. Below is the curated list of capabilities that Antier holds rather than marketing claims.

It is always suggested that you partner with an experienced team of blockchain experts who are adept at crafting impactful and successful customized cryptocurrency wallet solutions. 

How to Evaluate a Wallet Development Company in 10 Questions?

For investors doing diligence, these 10 technical and operational questions reveal whether a crypto wallet service provider is enterprise-grade or merely marketing-first.

1. What is your key management model in production, and can you provide architecture diagrams and a failure mode analysis?
2. Do you offer MPC or TSS-based signing? If so, provide a public audit or third-party review.
3. How do you support account abstraction and ERC-4337 user operations? Provide sample UserOperation flows and bundler integration details.
4. How is AI used in the stack, and what are measurable production outcomes for fraud reduction or onboarding improvements?
5. Which chains and L2s are supported natively, and what is the process to integrate new chains?
6. Provide SOC2 type II, ISO, or third-party audit evidence and recent penetration test results.
7. What are your SLAs for transaction throughput, incident response, and key compromise scenarios?
8. How is regulatory compliance built in, specifically AML tooling, on-chain metadata retention, and explainability for AI decisions?
9. What is the upgrade and migration path for wallet contracts and key-management components?
10. Provide client references where you implemented a production wallet with live volumes, and share anonymized KPIs.

Use these answers to rank vendors against the architecture and risk appetite of the target business.

Final Verdict: Choosing Antier for Serious Business Impact

For institutional investors and enterprise product owners, architecture and operational proof trump feature lists. Prioritize crypto wallet development companies that can demonstrate production MPC or hardened custody, an ERC-4337 smart account strategy, and measurable AI outcomes for fraud and UX. 

Antier, as positioned in public product material, claims mature AI wallet modules, multi-chain coverage, and enterprise controls; these are the traits investors should seek and verify.

Our experience building and advising regulated web3 projects shows the following pattern. Projects succeed when businesses choose partners who deliver three things: a security-first signing model, programmable accounts for frictionless UX, and an AI stack that is auditable and measurable. Legal and compliance expertise is critical during architecture and vendor selection because custody, AML, and data residency requirements directly influence design choices. We help institutional teams navigate these trade-offs by validating cryptographic proofs, confirming audit evidence, and shaping deployment plans that map to local regulatory regimes. If you are evaluating strategic investments into blockchain wallet development infrastructure, focus your diligence on architecture diagrams, third-party audits, and production AI performance. Those artifacts distinguish long-term infrastructure from short-term launches.

Let’s move from intent to execution. Talk to our experts to understand where and how to begin.

With crypto winter clearly having set in, bulls are now left looking for signs that the bearishness has become so embedded that a bottom might form.

One case in point might be a note from Canaccord’s Joseph Vafi on Wednesday, slashing his price target on Strategy (MSTR) by a whopping 61% to $185 from $474.

Vafi, who lifted his outlook on Strategy as recently as November (to that $474 level), still maintains a buy rating on the stock, and his new $185 target suggests about 40% upside from last night’s close of $133.

Strategy is now down 15% year-to-date, 62% year-over-year, and 72% from its record high in November 2024.

Bitcoin, said Vafi, is in the midst of an “identity crisis,” still fitting the profile of a long-term store of value but increasingly trading like a risk asset. That tension came into focus during October’s crypto flash crash, when forced liquidations accelerated selling.

Though frequently cast as “digital gold,” bitcoin has failed to keep pace with the recent surge in precious metals, he continued. As gold has climbed on geopolitical tensions and macro uncertainty, bitcoin has lagged, underscoring its ongoing dependence on liquidity and risk appetite rather than safe-haven demand.

Strategy is built to weather volatility, the report said. The company holds more than $44 billion in bitcoin against roughly $8 billion in convertible debt, including a $1 billion tranche puttable in 2027 that remains in the money. Preferred dividends are manageable through modest share issuance, even with MSTR’s market cap no longer commanding much of a premium to the value of its BTC holdings.

Quarterly results are coming this week, but they have become largely immaterial given Strategy’s near-complete dependence on BTC, Vafi continued. A sizable unrealized loss tied to bitcoin’s fourth-quarter selloff is expected.

Vafi’s new $185 target assumes a 20% rebound in bitcoin prices and a recovery in the company’s mNAV to about 1.25x.

Read more: ETF that feasts on carnage in bitcoin-holder Strategy hits record high

As the BTC/USD chart shows, prices dropped below $74,000 yesterday. This marks the lowest level since November 2024, when the cryptocurrency was rallying on news of Trump’s election victory.

At the same time, sentiment indicators are signalling “extreme fear” across the market. This was reinforced by the break below the key April 2025 low near $74,450.

The media has been circulating increasingly alarming headlines:
→ Michael Burry, well known for his bearish calls, has suggested that a drop below the $70k level could create problems for the largest coin holder, MicroStrategy (MSTR);
→ Matt Hougan, Chief Investment Officer at Bitwise, warns that the market may be heading for a “full-blown” crypto winter rather than a simple correction.

Technical Analysis of the BTC/USD Chart

The price continues to move further away from the support level whose break we highlighted on 30 January.

At the same time, the market appears extremely oversold:
→ the price has fallen below the lower boundary of the previously drawn descending red channel;
→ the RSI indicator is forming bullish divergences.

Under these conditions, it is reasonable to assume that the market may be setting up for a technical rebound. This scenario looks particularly plausible given the scale of long position liquidations — around $2.5 billion were wiped out on 31 January alone.

If a recovery does unfold, a key test of bullish intent will be the psychological $80k area, where bears previously held clear control while breaking below the lower boundary of the descending channel.

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A survey of senior crypto investors and executives suggests capital priorities are shifting away from decentralized finance (DeFi) and toward core infrastructure, as decision-makers focus on liquidity constraints and market plumbing. 

The findings come from a new report published by the digital asset conference CfC St. Moritz, based on responses from 242 attendees of its invitation-only event in January. Respondents included institutional investors, founders, C-suite executives, regulators and family office representatives. 

According to the survey, 85% of respondents selected infrastructure as their top funding priority, ahead of DeFi, compliance, cybersecurity and user experience. 

While expectations for revenue growth and innovation remain broadly positive, respondents flagged liquidity shortages as the industry’s most pressing risk. The results suggest that investor interest remains, but capital deployment is becoming more selective.

Infrastructure takes priority as liquidity concerns persist

Respondents pointed to market depth and settlement capacity as key bottlenecks preventing larger pools of institutional capital from entering crypto markets. 

About 84% of respondents described the macroeconomic backdrop as better than neutral for crypto growth, though many said existing market infrastructure remains insufficient for large-scale capitalization.

The survey also showed a change in innovation expectations. While a majority expects innovation to accelerate in 2026, fewer respondents anticipate a sharp increase compared to last year, suggesting a shift away from more speculative expectations toward execution-focused development.

This shift aligns with broader industry trends, including a focus on custody, clearing, stablecoin infrastructure and tokenization frameworks rather than consumer-facing applications. 

Related: CoreWeave shows how crypto-era infrastructure quietly became AI’s backbone

US sentiment improves as IPO expectations cool

The survey found a sharp improvement in perceptions of the US regulatory environment, with respondents ranking the country as the second-most favorable jurisdiction for digital assets, behind the United Arab Emirates. 

CfC St. Moritz attributed the shift to stablecoin legislation and clearer rules for banks and regulated market participants. 

At the same time, expectations for crypto initial public offerings cooled after what respondents described as a record year in 2025. While most still expect listings to continue, fewer expressed high confidence, citing valuation resets and liquidity constraints.