The decentralized finance (DeFi) sector has notably expanded its dominance in the crypto lending market over the past four years, increasing its market share from 20% to 60%. AAVE, a leading DeFi lending protocol, now surpasses the entire centralized finance (CeFi) lending sector in total volume, which reached $19.1 billion. AAVE's ecosystem includes over 10,000 accumulated $AAVE tokens, with recent purchases totaling 7,169 tokens at an average price of $139. The protocol operates across eight networks with a total value locked (TVL) of $28 billion, highlighting its cross-chain expansion. Infrastructure projects such as Morpho Labs have also emerged as key players in on-chain lending infrastructure. Meanwhile, the crypto venture capital (VC) landscape faces challenges; some top-tier VC funds are undergoing transformations amid a difficult investment environment characterized by low returns on investment and pressure to meet investment targets within short fund cycles. Despite these challenges, notable funding activity continues, with Auradine securing $153 million and World Liberty Fi entering a deal with DWF Labs. Capital is flowing into infrastructure, artificial intelligence, and DeFi projects across various funding stages, underscoring ongoing interest in the sector. The shift toward decentralized finance is widely recognized as a completed transition rather than an emerging trend.