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Du Jun: The larger the issuance of stablecoins at this stage, the more it extracts from the crypto world.
On June 21, Du Jun posted on the X platform stating that the AI market is fierce, with funds continuously pouring into the US stock market. The trading volume of BTC ETF has accounted for 25% of the spot market, and with a few more ETFs, what the on-chain and crypto world fear is that only the functions of liquidation and warehouse transfer will remain. The trading volume on CEX in the first half of the year has slumped 40% compared to the second half of last year, and the on-chain TVL remains unchanged, with no activity at all. The essence of stablecoins at this stage is arbitrage and payment tools, not an engine for increasing liquidity; the larger the issuance, the stronger the extraction.