From the perspective of financial resources: Which knockoffs are being paid for with "real money" by companies in 2025?
From a macro perspective, this wave of financial resource allocation marks the convergence of three important trends: the maturation of the regulatory environment—companies are willing to disclose their cryptocurrency holdings in public documents, indicating that a compliance framework is being established; the concretization of application scenarios—it is no longer the abstract "blockchain revolution," but rather quantifiable business needs such as AI training, DeFi yields, and cross-border payments; and the institutionalization of capital structure—shifting from retail dominance to corporate participation.