Strange movement I am observing: tokenized Treasuries have reached $15.35 billion, surpassing April's high. It seems investors are shifting money into these yield-bearing instruments rather than holding spot crypto. The explanation? Expectations of Fed rate hikes are pushing people toward more conservative assets. Meanwhile, Bitcoin hasn't fallen below $80k, staying firmly in place. In short, the treasury game is attracting a lot of capital lately, while the crypto market remains interesting nonetheless. An intriguing situation to watch; tokenized Treasuries have become a real alternative.

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