Garrett Jin: Trading platforms and stablecoins extract tens of billions of dollars from the market every year without any capital flowing back in
Jinse Finance reported that Garrett Jin, the whale who accurately shorted before the previous crash and publicly sold over $4.23 billions worth of BTC to switch positions to ETH, stated: The biggest problem in the crypto space is that most projects have no cash flow. In contrast, TikTok's sale price in the United States was $14 billions, while many crypto projects with no cash flow are valued at tens of billions of dollars. This causes capital to be diverted away from core assets like bitcoin and ethereum. Meanwhile, trading platforms and stablecoins extract tens of billions of dollars in profits from the entire industry every year, but do not reinvest healthy capital back into the market. As a result, the market lacks liquidity and upward momentum.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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