An interesting trend suggested by Nansen's analytical data is the growing attention on the performance of crypto investment funds in the second half of 2025. According to reports from PANews, monitoring results from Nansen, a blockchain data analysis platform, reveal that Multicoin and Version One have each achieved profits (PnL) exceeding $17 million, securing the top two positions. DeFiance Capital follows closely behind, indicating a highly competitive landscape at the top.

Notably, major institutional investors such as a16z, Pantera Capital, and Coinbase Ventures repeatedly appear at the top of the list. This pattern vividly illustrates that over the past six months, large funds have been continuously and strategically entering the market. The profits exceeding $17 million suggest more than just numbers; they strongly imply active institutional money movement and the validity of investment decisions in the crypto market during the latter half of 2025.