CZ: 2025 Not a Good Year for Crypto, but RWA and Stablecoins Exceed Expectations

CZ's split assessment underscores a market where general crypto momentum has lagged while specific niches like RWA tokenization and stablecoins have outpaced expectations. This divergence suggests capital and attention are concentrating in utility-driven segments rather than the broader speculative market. The significance lies in whether this trend persists, potentially reshaping where institutional and retail interest flows next. What to watch is whether the strength in RWAs and stablecoins can sustain itself or if it remains an isolated bright spot in a challenging environment.