Will stablecoins become the "long wick candle" of the crypto market in 2025? Large institutions view it this way.

Christopher Jansen, head of Franklin Templeton's digital asset research, recently released a significant viewpoint: stablecoins are the true “killer application” in the field of encryption.

This judgment is not unfounded. From practical applications, stablecoins have become the preferred tool for institutions to enter the market—capable of connecting with traditional finance while ensuring value stability. More importantly, it is evolving into the foundation for trading pairs of all on-chain assets.

Jensen believes that 2025 will be a turning point. With regulatory frameworks like the U.S. GENIUS Act gradually improving, institutional confidence in this market is rapidly rising. His prediction is that in the future, investors' on-chain wallets will simultaneously hold U.S. treasury bonds, stablecoins, NFTs, and tokenized real estate—a complete on-chain investment portfolio will thus take shape.

From the phenomenon, this wave of institutional entry is different. Everyone is no longer making small allocations in a trial-and-error manner, but is building positions with real intent. The market is also transitioning from the experimental stage of “what can we do” to the structured era of “how to scale applications.”

The concept of tokenization sounds impressive, but what it boils down to is that every asset class in traditional finance is migrating to the blockchain. What does this mean for the entire encryption ecosystem? Think about it.