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The rise of artificial intelligence drives capital flow into U.S. stocks, affecting cryptocurrency markets
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According to Odaily, Do Kwon recently commented on platform X about the aggressive movement in AI markets, noting a continuous flow of capital into U.S. stocks. He pointed out that the trading volume of Bitcoin Exchange-Traded Funds (ETFs) now accounts for 25% of spot transactions. With more ETFs being introduced, blockchain and cryptocurrency sectors may be reduced to mere functions for asset liquidation and transfer.
Do Kwon also noted that trading volume on centralized exchanges (CEX) in the first half of the year has decreased by 40% compared to the second half of last year. While the total value locked (TVL) on-chain remains stagnant, with no significant activity.
Furthermore, he pointed out that stablecoins currently primarily serve as tools for arbitrage and payments, rather than as engines for liquidity growth. He warned that with the increase in stablecoin issuance, the pressure on liquidity extraction is increasing.
