Private markets showed surprising resilience as DATs captured over half of deal volume. The numbers tell an interesting story—deal volume jumped 22% to hit $19 billion, riding on massive trades from major centralized platforms and the growing buzz around prediction markets. What's really notable? Average deal sizes climbed notably higher. Investors aren't chasing everything anymore; they're zeroing in on proven projects with real traction. This shift signals a maturing market where capital is getting pickier about where it lands.