A certain exchange: Macro easing drives capital inflow, the divergent pattern of the crypto market continues

According to the latest weekly report from a certain exchange, as the Middle East situation has eased temporarily and energy prices have fallen, global risk appetite has marginally recovered. Stock indices have reached new highs, while the US dollar and US Treasury yields have declined simultaneously, but gold remains strong, indicating that although capital is returning to risk assets, safe-haven demand has not completely receded. In this context, the overall crypto market saw a slight rebound, with BTC and ETH rising by 4.3% and 3.3% respectively. ETF funds continued to experience net inflows, but market sentiment remains in a cautious range. Mainstream assets have shown relatively solid performance supported by institutional funds, while the recovery in the altcoin market remains limited.

On the industry front, regulatory progress and infrastructure development continue to deepen. France supports advancing a euro stablecoin programme under the MiCA framework to enhance the competitiveness of its local currency system. Circle has launched USDC Bridge, further improving the cross-chain liquidity structure for stablecoins. The X platform went live with the Cashtags feature, accelerating the integration of trading and social scenarios. In terms of investment and financing, a total of 12 deals were disclosed this week, with an aggregate amount of 41.8 million US dollars. Among them, Paxos Labs completed a 12 million US dollar financing round focused on compliant DeFi infrastructure, reflecting that capital continues to be deployed around compliance and fundamental capability upgrades.