The cryptocurrency market is growing, but the players are changing. It's not retail that dominates, but institutions that entered blockchain in 2025 with an unprecedented scale of capital.
Glassnode shows record institutional inflows and market stabilization.
Tokenization is growing, and the coming years are expected to be even more institutional.
How has the market changed according to Glassnode?
A new report from Glassnode and Fasanara Capital shows that the cryptocurrency market has entered an era of dominance by large players.
Bitcoin has absorbed as much as 732 billion USD of new capital in this cycle, and the network transferred 6.9 trillion USD in 90 days — similar to Visa or Mastercard.
The emergence of spot ETFs has changed the way funds enter and exit the market. Liquidity has become more stable, and large price fluctuations occur less frequently.
The sector of tokenization of real assets is also growing rapidly — from 7 billion USD to 24 billion USD in a year. More and more pension funds and hedge funds are investing in blockchain without the need to buy BTC or ETH.
All of this leads analysts to one conclusion: the market has become larger, calmer, and more institutional than ever.
What’s next? Glassnode expects increasing institutional involvement, especially in the sector of tokenized funds. The upcoming bear market — if it comes — is expected to be much milder.
