Wintermute Report Points to Liquidity Recycling as Market Growth Challenge
By Crypto Economy
TL;DR: Crypto growth stalls as liquidity recycles internally, limiting fresh capital inflows. Stablecoins, ETFs, and DATs have plateaued, creating a “player-versus-player” market. Next liquidity wave from ETFs, stablecoins, or DATs could restore upward momentum. Crypto markets are showing signs of stagnation as Wintermute highlights that liquidity is being recycled internally rather than attracting fresh inflows.
