Recently, the cryptocurrency market has released multiple major signals. According to on-chain data, well-known investment institutions transferred 705 BTC to mainstream exchanges for lending collateral. Meanwhile, the Bitcoin holdings of a leading crypto asset management company have surged to $9.618 billion in unrealized gains. In addition, the Ethereum ecosystem has also seen significant moves—professional mining institutions hold over 3.2% of the ETH supply, with total assets reaching $13.3 billion, fully demonstrating institutional deep involvement in the Ethereum ecosystem. Payment giants are also launching stablecoin savings products on their financial platforms, further promoting the application of stablecoins like USDT at the retail level. At the same time, derivatives exchanges are accelerating innovation, introducing new products based on spot prices to offer more trading tools for the market. This series of developments indicates that institutions and platforms are accelerating their deepening布局, and the infrastructure of the crypto market continues to improve.