A certain exchange's research institute: Primary market financing in October surged by 104.8%, with capital heavily reinvesting in prediction markets and stablecoin infrastructure.

ChainCatcher news, a research institute of a certain exchange released the "2025 Web3 Financing Panorama Interpretation" report, which shows that the Web3 financing market saw a strong rebound in October, with a total of 130 transactions completed and total financing amounting to $5.12 billions, a month-on-month increase of 104.8%, marking the second highest level in nearly a year.

The financing structure in October was dominated by strategic rounds, accounting for over 70%, with the core driving force coming from the explosion of the prediction market and the accelerated integration of CeFi and TradFi. Among them, Polymarket topped the list with $2 billions in strategic financing, marking a capital highlight moment for the prediction market track; CeFi maintained its expansion momentum through mergers and acquisitions and structured financing, continuously deepening its synergy with the traditional financial system.

In terms of sectors, DeFi ranked first with a total financing of $2.15 billions, reflecting capital's concentrated allocation to innovative financial applications; stablecoin infrastructure also became a focus, with Tempo completing a $500 million Series A financing, further consolidating the sector's strategic position as the underlying foundation of Web3 finance.

The distribution of financing scale showed the characteristics of "mid-tier dominance and intensified polarization", with projects in the $3 million–$10 million range being the most active, accounting for more than one-third; while small-scale financing below $1 million accounted for only 5.9%, a new low in recent months, indicating that capital's screening criteria for "pure concept" projects are becoming increasingly stringent, and funds are accelerating towards mature teams and practical solutions with long-term competitiveness.

Overall, the Web3 financing landscape in October presented three major trends: "capital return, structural reshaping, and confidence recovery", and the industry is entering a new cycle oriented towards steady growth and actual value creation.