Odaily Planet Daily reports that Du Jun posted on the X platform stating that the AI market is fierce, with funds continuously flowing into U.S. stocks. The BTC ETF trading volume has accounted for 25% of the spot market. With a few more ETFs, the blockchain and crypto circles might only be left with liquidation and asset transfer functions. The CEX trading volume in the first half of the year has halved by 40% compared to the second half of last year. On-chain TVL remains flat, showing no activity. Currently, stablecoins essentially serve as arbitrage and payment tools, not as engines for incremental liquidity growth; the larger their issuance, the greater the extraction of value.

Odaily Planet Daily reports that Du Jun posted on the X platform stating that the AI market is fierce, with funds continuously flowing into U.S. stocks. BTC ETF trading volume has reached 25% of the spot market. With a few more ETFs, the blockchain and crypto space might only be left with liquidation and fund relocation functions. The centralized exchange (CEX) trading volume in the first half of the year has halved by 40% compared to the second half of last year, while on-chain TVL remains flat with no movement. Currently, stablecoins essentially serve as arbitrage and payment tools rather than engines for liquidity growth; the larger the issuance, the more aggressive the fee extraction.

Du Jun: The essence of stablecoins at the current stage is arbitrage and payment tools.