Crypto speculation at 2024 lows as TradFi leveraged ETFs hit record $239B
Crypto speculation is low, evidenced by memecoin dominance hitting near two-year lows, while traditional finance leveraged ETFs reached a record $239 billion.Summary
Speculative appetite among cryptocurrency investors is cooling, with memecoin dominance against altcoins reaching its lowest point since February 2024, leading some analysts to declare "Memecoin markets are dead." In stark contrast, speculative interest is surging in traditional finance (TradFi), where leveraged exchange-traded funds (ETFs) hit an all-time high of $239 billion in assets under management in Q3 2025. This dynamic suggests a shift where risk-taking is moving towards regulated products with established safeguards rather than volatile, thinly-liquid memecoins. Crypto investor sentiment remains subdued, registering as "Fear" according to the Fear & Greed Index, far below pre-crash levels. Furthermore, "smart money" traders are actively betting against leading memecoins while favoring tokens associated with real revenue-generating protocols like Ether and Hyperliquid, signaling potential fatigue with the previous cycle's memecoin launches.
(Source：Cointelegraph)