The whole industry is pivoting out of crypto right now
The evidence is stacking up across every corner of the market. Robinhood’s crypto earnings fell sharply but got backfilled by prediction markets. Coinbase is struggling as volumes collapse. Wintermute faces the same squeeze, because in the depths of a bear market with apathy setting in, there’s simply very little to market make. These are businesses that need to make money, so they go where the money is. Step back and the pattern is unmistakable, market makers moving into other markets, Bitcoin miners becoming AI data centers, and crypto exchanges reinventing themselves as everything apps leaning harder on prediction markets than crypto volumes. That alone tells you where this cycle sits.
#Crypto #Bitcoin #Markets #PredictionMarkets #BearMarket
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