Options

Options are versatile derivative instruments that give traders the right, but not the obligation, to buy (Call) or sell (Put) a digital asset at a specific strike price.Unlike futures, options offer a flexible way to hedge against "black swan" events or speculate on implied volatility. The 2026 landscape features a surge in on-chain options vaults (DOVs) and structured products that simplify complex "Greeks" for retail users. Explore this tag for insights into premium pricing, expiration cycles, and advanced strategic hedging in the decentralized derivatives market.

20442 Articles
Created: 2026/02/02 18:52
Updated: 2026/02/02 18:52
EU Revitalizes Digital Euro Plans Amid U.S. Stablecoin Bill

EU Revitalizes Digital Euro Plans Amid U.S. Stablecoin Bill

The post EU Revitalizes Digital Euro Plans Amid U.S. Stablecoin Bill appeared on BitcoinEthereumNews.com. Key Points: EU considers public blockchains after U.S. stablecoin bill. Digital euro linked to market competitiveness. Privacy concerns prompt ECB to explore Ethereum, Solana. EU officials have accelerated planning for a digital euro, influenced by recent US legislative actions on stablecoins, with considerations of utilizing public blockchains like Ethereum or Solana. The initiative highlights Europe’s strategic response to competitive pressures from the US, potentially impacting blockchain ecosystems and enhancing the euro’s digital infrastructure. EU Accelerates Digital Euro Strategy Post-U.S. Bill The Financial Times reported that EU officials are accelerating their timeline for developing a digital euro. This shift follows the U.S. Congress passing the Genius Act, regulating the “288 billion” USD stablecoin market. Sources indicate the EU is considering public blockchains like Ethereum or Solana for the digital euro’s infrastructure primarily due to privacy considerations. The ECB and EC’s focus has shifted towards maintaining European market competitiveness. In light of the U.S. stablecoin bill, the EU aims to preserve the euro’s relevance by adopting a robust digital euro strategy. The potential use of public blockchains reflects a shift from the previously considered private infrastructure. Reactions from the financial community suggest mixed feelings regarding public blockchains. While proponents cite increased transparency and interoperability, privacy concerns remain a central topic. Officials like Piero Cipollone emphasized that the digital euro should complement existing euro cash while highlighting the evolving payment solutions landscape. As Piero Cipollone, Member of the ECB Executive Board, stated, “The digital euro, banknotes and coins will complement each other, enhancing the range of payment options available by offering cash in both physical and digital forms.” source Public Blockchain Debate in Europe’s Digital Currency Plans Did you know? In 2025, the EU’s consideration of Ethereum for the digital euro marked the first major central bank interest in public blockchains, signaling a…

Author: BitcoinEthereumNews
‘JPYC’ could become Japan’s first local stablecoin

‘JPYC’ could become Japan’s first local stablecoin

The post ‘JPYC’ could become Japan’s first local stablecoin appeared on BitcoinEthereumNews.com. Homepage > News > Business > ‘JPYC’ could become Japan’s first local stablecoin Japan may be about to approve the first yen-denominated stablecoin, according to reports. Private fintech firm JPYC is seeking approval from the country’s Financial Services Agency (FSA) to issue up to JPY 1 trillion worth of the asset, possibly later this year. JPYC has already begun issuing a prepaid digital asset named “Prepaid JPYC,” but wants to take advantage of recent regulatory changes in Japan to gain first-mover advantage with a 1:1 digital yen. There are indications it will launch the new stablecoin on Mitsubishi UFJ’s Progmat (NASDAQ: MUFJ), which combines “blockchain and other advanced technologies” on a permissionless platform and has onboarded several other major Japanese financial institutions to its company deck. JPY 1 trillion is about US$6.78 billion, and JPYC is looking to issue that total over three years. However, if successful in the market and at maintaining its 1:1 JPY peg, that number could be expected to rise substantially. Japan’s digital asset traders are relatively starved for opportunities to park value in stablecoins, compared to the rest of the world. There are strict KYC regulations to keep stablecoin users and traders in check, and regulators only approved the first USDC license for exchanges earlier this year. Currently, there are no other options to hold fiat value on local digital asset exchanges other than actual JPY deposits. Stablecoin uses and implications Though the concept of stablecoins has been around for years, 2025 headlines suggest it could become blockchain’s “killer app” and even a preferable option to central bank digital currencies (CBDCs). Stablecoins offer blockchain’s advantages in terms of speed (mostly), security, and accessibility without the price volatility of other digital currencies. CBDCs, on the other hand, are often regarded with skepticism by governments, the general…

Author: BitcoinEthereumNews
Experts Tip Maxi Doge ICO as the Best Crypto Under $1

Experts Tip Maxi Doge ICO as the Best Crypto Under $1

The cryptocurrency market has recently shifted in sentiment. The greed index fell from 59 last week to 46 today, moving from optimism to cautious neutrality, while prices across major cryptocurrencies, including Bitcoin and Ethereum, have declined. Even traditional markets are showing caution, gold prices edged lower as the U.S. dollar strengthened, reflecting broad macroeconomic reactions. […]

Author: The Cryptonomist
BlockDAG Ecosystem Targets Mass Adoption, $377M Raised with 20 Exchange Listings Secured

BlockDAG Ecosystem Targets Mass Adoption, $377M Raised with 20 Exchange Listings Secured

The post BlockDAG Ecosystem Targets Mass Adoption, $377M Raised with 20 Exchange Listings Secured appeared on BitcoinEthereumNews.com. Crypto News Check out BlockDAG’s $377M presale, 2.5M mobile miners, & 20 confirmed exchange listings, proving it is more than a concept & ready for mass adoption worldwide. With over 2.5 million mobile miners, twenty confirmed exchange listings, and a presale haul surpassing $377 million, BlockDAG isn’t waiting for the market, it is already shaping the direction of blockchain adoption. At Batch 29, BDAG is priced at $0.0276, and participants worldwide are beginning to recognize this is more than a presale. It represents an entire framework built on architecture, accessibility, and adoption. This piece examines why BlockDAG’s ecosystem, from its real-time dashboard to its education hub and plug-and-play mining devices, is regarded as one of the most developed and anticipated crypto projects of the decade. Presale Success Backed by Functionality Accumulating more than $377 million before a single listing is an achievement that goes beyond marketing hype. Unlike projects that lean on speculation or complex tokenomics, BlockDAG’s momentum is supported by visible infrastructure, open demonstrations, and hands-on tools. Its recently launched Dashboard V4 sets a higher standard of transparency, offering a live exchange simulator, referral tracking, real-time statistics, and user-specific insights. While many presales exist only as whitepapers, BlockDAG already provides working features for public testing and interaction. This focus on usability is building confidence. Participants are not simply buying into a promise, they are engaging with an operating ecosystem that continues to expand in real time. Mining Without Restrictions, X1 App & X Series Rigs A true marker of adoption is accessibility. BlockDAG delivers this through its two-tier mining system, combining the plug-and-play X Series devices with the X1 Mobile App. The X1 App, already adopted by more than 2.5 million people worldwide, enables users to mine BDAG directly from smartphones without heavy energy consumption or technical expertise. It…

Author: BitcoinEthereumNews
BlockDAG Raises $377M, Secures 20 Listings, & Builds an Ecosystem for Mass Adoption

BlockDAG Raises $377M, Secures 20 Listings, & Builds an Ecosystem for Mass Adoption

With over 2.5 million mobile miners, twenty confirmed exchange listings, and a presale haul surpassing $377 million, BlockDAG isn’t waiting […] The post BlockDAG Raises $377M, Secures 20 Listings, & Builds an Ecosystem for Mass Adoption appeared first on Coindoo.

Author: Coindoo
Newsom Greenlights Special Election For California Redistricting

Newsom Greenlights Special Election For California Redistricting

The post Newsom Greenlights Special Election For California Redistricting appeared on BitcoinEthereumNews.com. Topline California Gov. Gavin Newsom signed legislation Thursday that will allow Californians to vote on a redrawn congressional map this fall, possibly countering a redistricting approved by Texas lawmakers this week that could add five GOP seats to the U.S. House. California Gov. Gavin Newsom signs bills related to redrawing the state’s congressional maps on August 21, 2025 in Sacramento, California. (Photo by Justin Sullivan/Getty Images) Getty Images Key Facts The measure will be voted on in November and could effectively nullify the seats Republicans are expected to gain in the House if it is approved. Voters will specifically decide whether to suspend California’s current congressional districts in favor of a map more partial to Democrats. Democrats control 43 of California’s 52 congressional seats and could flip five Republican seats with a redistricting. Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you’ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here. Crucial Quote Newsom characterized the special election in a tweet as “Direct democracy that gives us a fighting chance to STOP Donald Trump’s election rigging.” Key Background California’s move came as Newsom vowed to respond to Texas Republicans approving a controversial plan backed by President Donald Trump to redraw its map to hand the GOP five additional favorable districts in the state. The Texas House passed the map Wednesday evening, following delays after a cohort of state House Democrats fled Texas to block the chamber from having a quorum, effectively keeping it from voting on the map. The Texas Democrats returned earlier this week after California Democrats indicated they would approve a map to offset the GOP’s gains. What To Watch For Whether additional states join in the mid-decade redistricting push. Lawmakers in red states like…

Author: BitcoinEthereumNews
Euro, gold, and RMB, when will the "second half" of stablecoins come?

Euro, gold, and RMB, when will the "second half" of stablecoins come?

Author: Bulu said If someone asks you, have you ever used stablecoin? The first things that come to your mind are likely USDT and USDC - these stablecoins pegged to the US dollar have almost become synonymous with "stablecoins." But what if the other party is referring to the Euro stablecoin, the Gold stablecoin, or even the recently rumored RMB stablecoin? This actually reveals the true portrayal of the current stablecoin market: although the US dollar is the only dominant currency, the world of stablecoins is far more diverse than imagined: They are not trying to challenge the status of the US dollar, but rather serve differentiated needs - some people hope to use euro stablecoins to avoid exchange rate fluctuations, some prefer gold stablecoins as safe-haven assets, and some expect RMB stablecoins to become a bridge for cross-border payments. In other words, stablecoins are moving from a single dollar narrative to a more complex global multi-narrative. Why should we care about non-USD stablecoins? If stablecoins are the "blood" of the crypto world, then the US dollar stablecoin is the core of this system. Over the past five years, USDT and USDC have consistently ranked first and second in the market, almost monopolizing the trading, clearing and payment links: According to Coingecko data, the combined market value of the two accounts for more than 90% of the total size of stablecoins. Their status even exceeds the actual share of the US dollar in the global trade system, and they are in an undisputed dominant position. Source: Coingecko But the demand for stablecoins goes far beyond “dollarization.” In Europe, daily payments, savings and accounting systems are denominated in euros, and users holding US dollar stablecoins often need to bear additional exchange rate fluctuations; in the Middle East or Southeast Asian markets, although the US dollar is still the dominant currency for international settlements, local residents also have the need to anchor their funds in their local currency or other safe-haven assets; and at the macro level, trends such as de-dollarization, regional currency unions, and the financialization of energy and resources have further boosted the exploration of "non-US dollar-anchored" stablecoins. In other words, the reason we are discussing non-USD stablecoins today is not because there is a problem with USD stablecoins, but because the demands of the real world and crypto finance are themselves becoming diversified. These differentiated demands constitute the market foundation of non-USD stablecoins. Based on the market practice that "stablecoins are no longer a tool that can be summarized by a unified narrative, and their use varies from person to person and from need to need," imToken also divides stablecoins into multiple explorable subsets (further reading: "Stablecoin Worldview: How to Build a Stablecoin Classification Framework from a User Perspective?"). According to imToken’s stablecoin classification method, the current non-USD stablecoins (based on actual issuance and circulation) mainly include euro stablecoins and gold stablecoins. Source: Non-USD stablecoins from imToken Web (web.token.im) Main types of non-USD stablecoins In the landscape of non-US dollar stablecoins, the most realistic representative is the euro stablecoin. Currently, the more mainstream products on the market include EURC launched by Circle and EURS launched by Stasis. Both are pegged to the euro at a 1:1 ratio and are backed by reserves from regulated financial institutions. The target audience of this type of stablecoin is not global crypto trading users, but local European users. To give an intuitive example, if a German investor uses USDT as a transaction medium, then every exchange from fiat currency to US dollar stablecoin will require bearing the euro-dollar exchange rate risk. However, if the euro stablecoin is used directly, transactions and settlements can be completed on the chain, completely avoiding exchange rate losses. As regulatory frameworks such as the EU MiCA are gradually implemented, the compliance and application scenarios of the euro stablecoin have become clearer. This means that in the future, the euro stablecoin is expected to become the local mainstream currency mapping of European crypto finance. Although its current market value is still far smaller than that of the US dollar stablecoin, its growth curve is clearly driven by policy dividends and has the possibility of long-term penetration. Source: Circle Different from the logic of the euro stablecoin, which is based on local settlement convenience, another representative non-US dollar stablecoin is the gold stablecoin. Gold has been the "value anchor" of the global financial system since ancient times. Even though the US dollar has been decoupled from the gold standard for more than half a century, central banks around the world still regard gold as a core foreign exchange reserve. In the field of encryption, this traditional safe-haven asset has also been moved onto the chain through tokenization. Typical representatives are PAX Gold (PAXG) and Tether Gold (XAU₮). Their mechanism is relatively intuitive. Each token corresponds to one ounce of physical gold and is kept by a custodian institution (such as a vault in London or Switzerland). Users can transfer these tokens freely between wallets like holding USDT, use them as collateral to participate in lending or yield farming in DeFi protocols, and withdraw physical gold through the redemption mechanism. In this way, the traditional safe-haven properties of gold can be combined with the high liquidity of the blockchain. Therefore, compared with physical gold bars or gold ETFs, the biggest innovation of gold stablecoins lies in "divisibility and liquidity". Traditional gold is often measured in grams and ounces, making it difficult to divide in small amounts; and although gold ETFs are easy to trade, they rely on financial market settlement. Gold stablecoins break through these limitations - they can represent real hard assets and can be quickly transferred and split on the chain in the form of tokens, greatly lowering the transaction threshold. Of course, it is not without flaws. The price of gold itself will fluctuate due to the global economy, interest rate environment and geopolitical risks. Therefore, the gold stablecoin does not have the almost absolute price stability like the US dollar stablecoin. However, for those who want to seek diversified storage of value on the chain, it provides a configuration option that is closer to hard assets. Overall, the euro-denominated stablecoin and the gold-based stablecoin represent two distinct logics within the non-USD stablecoin landscape: the former emphasizes the local convenience and regulatory compliance of regional currencies, while the latter emphasizes the digitization and increased liquidity of traditional safe-haven assets. Together, they are driving the stablecoin narrative from a singular "dollar hegemony" to a diversified global monetary ecosystem. Where is the future of non-US dollar stablecoins? From a macro perspective, the rise of non-US dollar stablecoins will not weaken the dominant position of US dollar stablecoins in the short term. After all, whether it is the global settlement of crypto transactions or the liquidity support of cross-border clearing, the position of the US dollar is deeply rooted. But this does not mean that non-US dollar stablecoins are meaningless. They are more like a supplement and expansion of the existing pattern, exploring new options for multi-currency anchoring outside the US dollar-dominated financial order. Taking the euro stablecoin as an example, its value lies in reducing exchange rate friction for European users. With the implementation of regulatory policies such as MiCA, it is expected to become the cornerstone of regional digital finance. The gold stablecoin, by combining traditional safe-haven assets with blockchain liquidity, provides investors with a new tool that combines value storage and flexibility. In addition, the RMB stablecoin that has been reported in the past two days is also gradually entering the crypto context. Although it has not yet formed large-scale circulation, it has the dual driving forces of policy promotion and actual demand in cross-border settlement and regional trade settlement. Once combined with compliant on-chain financial infrastructure, the RMB stablecoin is likely to become an important bargaining chip under the "de-dollarization" issue. However, non-USD stablecoins also face limitations: The first is insufficient liquidity. Compared with the hundreds of billions of USDT and USDC, the market capitalization of non-USD stablecoins is generally limited, resulting in insufficient depth and acceptance in the secondary market. Secondly, their application scenarios are limited. Euro stablecoins are more limited to Europe, gold stablecoins tend to store value, and RMB stablecoins are constrained by policy windows and compliance environments. This means that it is difficult for them to become a global currency like the US dollar stablecoin. But from a long-term perspective, the story of stablecoins is gradually moving towards "multipolarization". US dollar stablecoins will still be the backbone of crypto finance, while anchored assets such as the euro, renminbi, and gold will fill market demand in their respective dimensions. They may not be able to replace the US dollar, but they are constantly expanding the boundaries of stablecoins and reshaping the structure and level of the entire ecosystem. The future of stablecoins may not be the victory of a certain currency, but a pattern in which multiple anchored assets coexist and complement each other. The US dollar stablecoin is the starting point, but it is by no means the end point.

Author: PANews
The Riksbank leaves everything open – Commerzbank

The Riksbank leaves everything open – Commerzbank

The post The Riksbank leaves everything open – Commerzbank appeared on BitcoinEthereumNews.com. As expected, the Riksbank left its policy rate unchanged at 2% on Wednesday. At the same time, it signaled the possibility of a further interest rate cut this year, which would be ‘in line with the June forecast’, Commerzbank’s FX analyst Antje Praefcke notes. Riksbank has not become more dovish “Although developments in inflation and economic activity during the summer have deviated somewhat from the forecast in June, according to the Riksbank, it assessed that the outlook remained largely the same. According to Central Bank Governor Erik Thedéen, seasonal factors (such as rental cars) led to the rise in inflation in the summer, but the core rate appears to be moving toward the 2% target.” “The Riksbank therefore gave no indication of an earlier interest rate cut, e.g., in September. It kept all options open, though, stating: ‘However, new information can affect both the outlook for inflation and economic activity, as well as monetary policy going forward’. Therefore, if something unexpected happens between now and September, it could cut the policy rate in September, even if this does not seem to be its base scenario.” “In short, everything is basically unchanged compared with June, but at the same time anything is possible. However, as the Riksbank has not become more dovish, the decision should be neutral for the SEK.” Source: https://www.fxstreet.com/news/the-riksbank-leaves-everything-open-commerzbank-202508210927

Author: BitcoinEthereumNews
The Same Tottenham Hotspur Flaw Ruins An $80 Million Deal

The Same Tottenham Hotspur Flaw Ruins An $80 Million Deal

The post The Same Tottenham Hotspur Flaw Ruins An $80 Million Deal appeared on BitcoinEthereumNews.com. Crystal Palace’s Eberechi Eze during a training session at Crystal Palace Training Centre, London. Picture date: Wednesday August 20, 2025. (Photo by John Walton/PA Images via Getty Images) PA Images via Getty Images Sometimes, when it comes to bitter feuds between soccer teams, victories off the field can be as sweet as the glories on it. For several days, Eberechi Eze appeared to be heading to Tottenham Hotspur from Crystal Palace in an $80 million deal. However, just as the move was set to be sealed, there was a twist. Arch rivals Arsenal swept in at the last minute and hijacked the deal. It’s the type of transfer that will feel like a derby day win for fans of the Gunners, especially as it also appears to have been enabled by sluggishness. As Sky Sports News chief reporter Kaveh Solhekol put it: “Today’s a great day to be an Arsenal supporter. “They have pulled off a real coup here. At the last minute, they matched Spurs’ offer, and it’s important to remember Eze himself is an Arsenal supporter. “His wish was very important in this – Arsenal matched Spurs’ bid of [$80]m including [$10]m in add-ons. Remember, he had a release clause which expired last week which was worth up to $91m. “I have some sympathy for Spurs. This is not football manager, this is real life. I don’t want to kick Spurs when they’re down – I’m trying to see it from the perspective of their hierarchy. “I think they did everything they could to try to sell the club to Eze. A lot of Spurs fans are asking why they didn’t trigger his release clause before Friday, but maybe they tried to do that and the player could’ve dragged his feet. Maybe he was keeping his options open.…

Author: BitcoinEthereumNews
Web3 Funding Trends Report for Q2 2025: A Year of Silent Execution, with Infrastructure Still the Focus

Web3 Funding Trends Report for Q2 2025: A Year of Silent Execution, with Infrastructure Still the Focus

By Robert Osborne, Outlier Ventures Compiled by AididiaoJP, Foresight News summary Web3 venture funding surged to $9.6 billion, the second-highest quarter on record, even as the number of disclosed deals fell to just 306 rounds. Capital concentration increased. Fewer companies raised more funding, and median round sizes increased across all stages. Series A funding reached $17.6 million, the highest level in more than two years. Seed round amounts rose. The median seed round size jumped to $6.6 million, reversing a downward trend in the first quarter and indicating growing confidence in early-stage investors. Private token sales remained stable, raising $410 million across just 15 deals, while public token sales declined 83%, raising $134 million across just 35 events. Infrastructure continues to dominate, with cryptocurrencies, mining and validation, and computing networks leading the way in terms of capital and investor interest. Consumer categories are showing signs of life, particularly in financial services and marketplaces, but funding and deal share remain relatively small. Funding trends this quarter suggest this is no longer a wide-ranging play, but rather a radical investment of conviction. Market Overview: Capital Concentration At first glance, the numbers seem contradictory: Web3 venture funding has surged, while the number of deals has plummeted. But against the backdrop of the broader correction we’ve tracked since 2024, the logic becomes clear: investors are shifting from broad coverage to deeper, more strategic bets, a shift that was solidified in Q2 2025. Figure 1: Web3 transaction volume and funding by quarter. Source: Outlier Ventures, Messari Only 306 disclosed deals (transactions with published funding details) were recorded this quarter: the lowest level since mid-2023. However, funding soared to nearly $10 billion, nearly 30% higher than the previous quarter, without any outliers. Rather than seeing a single, outsized deal distorting the data, we saw a dense concentration of funding rounds between $50 million and $250 million, focused on strategic areas like Rollup infrastructure and validator liquidity. Funding this quarter was characterized by fewer bets, larger rounds, and higher barriers to entry. The result is a market that feels smaller, but also more serious. In the post-megafund environment, investors aren't chasing every pitch deck; they're weighing narrative, protocol dependencies, and distribution advantages. You no longer get funded because you're promising; you get funded because you're indispensable. Deal Stages of Web3 Startup Funding: Series A Returns After a year of neglect, Series A funding is back in the spotlight. The median Series A round size climbed to $17.6 million, the highest level since early 2022, with 27 deals raising a total of $420 million. These are no longer “pre-Series B” rounds masquerading as Series As; they are precise, prudent allocations of capital to companies with strong product-market fit (PMF), typically with growing revenue and well-established token mechanics. Figure 2: Quarterly changes in median round size across pre-seed, seed, and Series A rounds. Source: Outlier Ventures, Messari Seed rounds also rebounded, with the median seed round size rising to $6.6 million, while the total number of deals saw a slight increase. This suggests a return of investor interest in early-stage ventures, at least in hot sectors like AI-native infrastructure or validator tools. Meanwhile, pre-seed rounds remained stable, with a median size of $2.35 million, confirming what we've seen over the past year: early-stage projects are still here. In 2024, capital is concentrated between the optimism of the pre-seed stage and the maturity of Series B and beyond. Series A was once the place where faith died, but the venture market won't remain stagnant forever. Infrastructure takes time to build, and scaling takes time, too. That moment has arrived now. Infrastructure investment dominates Web3 capital flows This quarter’s map of Web3 categories weighted by capitalization looks like a blueprint for the post-consumer transition. Figure 3: Average funding stage and round size by category, Q1 2025. Source: Outlier Ventures, Messari Note: "Investor Deals" refers to the total number of investor engagements within a given category, not the number of unique investors. If a single investor participated in three financings, that would be counted as three investor deals. The largest funding rounds occurred in the infrastructure (median $112 million), mining and validation (median $83 million), and computational networks (median $70 million) sectors. These aren't speculative tokens; rather, they're the infrastructure supporting validator networks, modular blockspaces, and AI-aligned consensus systems. This foundational layer defines the long-term blockchain investment strategy. The investor logic is clear: support the underlying infrastructure and then rapidly develop the application layer. Other prominent infrastructure sectors include consumer infrastructure (median $11.7 million) and asset management (median $83 million). These categories sit at the intersection of infrastructure and user experience (UX), representing high-functioning products with technical depth and long-term composability. On the other hand, developer tools again attracted strong interest (91 investor deals), but with smaller funding rounds. This is a familiar narrative for this long-tail, low-capex sector. But it remains a playground for early-stage teams and those willing to participate in grants and token options. Financial Services, Entertainment, and Marketplaces all saw healthy deal counts and moderate median round sizes ($6 million to $18 million), indicating steady yet cautious investor interest. However, deal volume is far from the levels seen in 2021-2022. Investors haven't lost interest in consumer applications; they're simply waiting for new products to emerge. Token Fundraising in Q2 2025: Private and Public Offerings After a booming first quarter, token financing entered a quieter phase in the second quarter, but this shift felt more like a reallocation than a retreat. Figure 4: Comparison of private and public token sales in terms of funding and number of deals from 2022 to 2024. Source: Outlier Ventures, Messari Private token sales raised $410 million across just 15 deals, with a median round size of $29.3 million, the highest level so far in 2021. This growth in high-value private allocations highlights the current Web3 fundraising environment: consistency and strategic partnerships are more important than hype. These aren't hype-driven memecoins or utility tokens disguised as protocols, but rather validator consortiums, L2 treasuries, and modular Rollup ecosystems quietly consolidating liquidity. In contrast, public token sales collapsed. Only 35 funding rounds were completed, compared to 112 in the first quarter, totaling just $134 million. The median funding round size halved. Even offerings popular with retail investors struggled to attract attention, with the majority of trading volume concentrated in a handful of high-profile projects. Furthermore, market sentiment felt more like wait-and-see than bearish, a wait-and-see stance rather than a full-scale retreat. The divergence between private and public sales continues a trend tracked since late 2023. Public token issuance surged when the market was hot, but private rounds reflect consistency, not hype. Summarize Investors are looking for clearer narratives, more solid infrastructure, and builders who understand how to navigate this new financing environment. If 2024 is the year of recovery and restructuring, the second quarter of 2025 feels like the year of quiet execution. Capital is flowing, but only to a few. Deal flow is declining, but funding rounds are rising. Infrastructure continues to win, but not out of bias, and without a major ideological shift. The path is narrower for founders, but not unviable, early-stage deals are still happening, and Series A rounds are back. Private token sales once again have a real seat at the table, as long as they align with strategic, scalable, and protocol-dependent goals. In short: We’ve left the hype cycle behind. It’s a slow, accelerated climb toward critical infrastructure and enduring applications. The conclusion is simple: this market doesn’t need more hype cycles, it needs inevitability.

Author: PANews