PANews reported on March 4 that according to Bitcoin.com, in February 2025, crypto venture capital activities picked up, with 98 projects receiving a total of US$951 million in public financing, a month-on-month increase of 14%. However, according to RootData data, year-on-year investment levels are still down 35% compared to February 2024. Stablecoins and payments have become the dominant categories, attracting a lot of institutional support. DeFi and artificial intelligence (AI) fields have also received significant growth in financing. However, Layer1/Layer2 blockchain projects and CeFi investment remain relatively sluggish. Funds continue to flow into stablecoins, payments, and decentralized financial infrastructure, indicating that institutions have growing confidence in regulated and scalable crypto applications. As the regulatory environment becomes clearer, venture-backed companies are expected to drive the next wave of cryptocurrency applications.