#美联储货币政策 The global stock market in 2025 achieved its largest increase in six years, with a 21% annual growth driven by Federal Reserve rate cuts and loose monetary policy. Seeing this data, I am thinking of an interesting comparison — while traditional financial markets enjoy the benefits of central banks' "money printing," the Web3 world has been exploring another path.

The core logic of decentralized finance (DeFi) is precisely the opposite: we do not rely on the policy stance of central banks, but instead democratize finance through transparent on-chain mechanisms and smart contracts. While global investors are betting on whether the Fed will continue to loosen policy, DeFi users are already managing their assets independently and earning real returns.

This stock market rally, although it has created wealth effects, also exposes a reality — the prosperity of traditional markets heavily depends on policymakers' "moderate" attitude. In the Web3 ecosystem, rules are code, incentives are transparent, and there is no need to guess the attitude of any official.

As we enter 2026, when traditional markets face challenges of overvaluation and policy divergence, we have reason to believe that more and more people will start to consider: whether it is necessary to leave a decentralized option for their asset allocation. The future is not a binary choice, but a coexistence of multiple options — and this is exactly what makes Web3 so fascinating.