According to the latest industry briefings, veteran crypto market observers have noted that, following the disappointment of certain macro-political expectations in 2025, the fundamental drivers of the crypto market are undergoing a profound shift. The market is gradually transitioning from a “politically driven” phase, historically influenced by macro events and sentiment, toward a “structural-driven” phase led by infrastructure development, regulatory progress, and genuine user demand.
This perspective is particularly relevant amid current market volatility. As market participants shift from early speculative forces toward long-term value creation, both capital and projects are increasingly prioritizing core infrastructure, compliance frameworks, and sustainable ecosystem growth. This transformation is reflected not only in trading behavior and capital flows but also in the industry’s broader movement toward greater standardization and transparency.
Global Regulation and Market Maturity: From the Periphery to the Core
Over the past several years, the crypto market has experienced continuous experimentation and adjustment on the regulatory front. Regulators worldwide are striving to strike a balance between fostering innovation and mitigating risk, with regulatory focus shifting from “whether crypto should exist” to “how to ensure asset security and transaction transparency.”
An increasing number of regulatory frameworks now emphasize fund traceability, the legitimacy of transaction behavior, and proactive risk assessment mechanisms. Alongside the structural transformation of the market, compliance technologies and risk identification tools have evolved rapidly, becoming essential components of the industry’s maturation process.
Transaction Behavior Monitoring Becomes the New Compliance Baseline
In a structural-driven market phase, regulatory expectations regarding transaction behavior have significantly intensified. Traditional focal points—such as price movements and market sentiment—are being replaced by more systematic data analytics and risk identification capabilities.
A core capability in this context is the in-depth analysis of transactions to identify potential risk points, fund flows, and anomalous behaviors—commonly referred to as KYT (Know Your Transaction). This capability is increasingly critical for financial institutions and service platforms seeking to remain compliant and mitigate risk under tightening regulatory scrutiny.
In practical applications, transaction monitoring systems such as Trustformer KYT analyze large-scale on-chain data, transaction paths, and behavioral patterns to provide real-time risk alerts and decision support for compliance teams. These capabilities enable institutions to strengthen risk detection and operational resilience during this period of structural transformation.
Implications for the Industry
As the primary drivers of the crypto market shift from macro events to structural development, the importance of compliance and infrastructure continues to rise. With regulatory policies becoming clearer and real user demand playing a more decisive role, market participants can only achieve sustainable progress by enhancing core technological capabilities and strengthening risk management frameworks.
This trend not only reflects the growing maturity of the industry but also signals the evolution of the crypto asset ecosystem from a speculative market toward a more robust, regulated, and foundational component of the global financial system.