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Wintermute: Inflows of stablecoins, ETFs, and DATs have weakened

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2025-11-07 04:39:46
Wintermute recently published an article saying that liquidity determines every cycle of cryptocurrencies, and penetration may drive long-term development, but it is the flow of funds that really affects the price. The momentum of capital inflows has slowed down in the past few months. Whether it is stablecoins, ETFs or digital asset treasury (DAT), the momentum of capital inflows into all channels of the cryptocurrency ecosystem has weakened, leaving cryptocurrencies in the stage of self-funding rather than expansion.
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