Bitcoin ETFs saw outflows of $3.74 billion over the last 30 days. Ethereum ETFs lost another $477.9 million.


But the total cryptocurrency market cap is still at $2.07 trillion.
Something is supporting this market, and it's not ETF flows. Stablecoins are at $312 billion. The market cap of real-world assets (RWA) is at $25 billion. On-chain infrastructure continues to grow regardless of institutional ETF flows.
The part of crypto that is actually being built and used is no longer moving in sync with the ETF narrative. This is a fundamental change from where we were two years ago.
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CryptoPlus
· 06-28 13:04
I think
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