In the latest reports from the Bybit platform, which is the second largest cryptocurrency exchange by trading volume, the movements of smart money (referring to institutional funds, investment funds, and whales...) highlighted the trends of this money towards Ethereum, Solana, and Real-World Assets (RWAs), while their interest in stablecoins on centralized platforms has decreased.
Data showed that Ethereum (ETH) topped investor preferences, followed by Solana (SOL), which regained its appeal after a previous poor performance.
Tradeable assets, led by Ondo Finance (ONDO), are among the growing hubs in the decentralized finance sector, especially with the ongoing convergence between traditional and decentralized finance.
The report indicates that smart money maintains stable positions in Bitcoin and Ethereum, along with a number of alternative cryptocurrencies, notably ONDO, UNI, and WLD.
This distribution reflects a diversity in the strategies of professional investors and shows an increasing confidence in derivative assets, especially ETH derivatives like LsETH from Liquid Collective, which topped institutional portfolios.
Uniswap (UNI) has also shown a clear presence, with gains nearing 40% over the past month, which may indicate the platform's readiness for significant undisclosed upgrades.
At the same time, Solana derivatives recorded strong performance, indicating a potential shift in capital trends towards more efficient alternatives in the smart contract sector.
On the other hand, meme coins like BONK and PENGU saw gains exceeding 90% and 170% respectively during the month, while listings of Sky (formerly known as MakerDAO) on decentralized exchanges contributed to enhancing liquidity and institutional interest.
Regarding stablecoins, the chart released by the Nansen platform shows a decline in their reserves on centralized platforms to a three-month low.
Although this is not necessarily a negative indicator, it is understood as a sign of increasing investor appetite for risk and directing capital towards other assets, instead of being conservative and leaning towards stablecoins.
