Exodus CEO: Institutions are accelerating their entry, and the crypto market may enter an institution-led cycle

JP Richardson, CEO of Exodus, stated that this year institutions are accelerating their entry into the cryptocurrency market, while retail participation has declined, indicating that the market may be entering a new phase dominated by institutions.

He pointed out that the current market capitalization of stablecoins has reached an all-time high, and traditional financial institutions are continuing to make moves, including launching Bitcoin ETFs and establishing crypto-related business departments. Michaël van de Poppe, founder of MN Fund, also mentioned that under inflation and cost-of-living pressures, retail funding is constrained, and this cycle may exhibit characteristics of being institution-led and lasting longer. Additionally, CryptoQuant data shows that the inflow of funds into small accounts holding less than 1 BTC on Binance has dropped to a nearly nine-year low, indicating a decline in retail participation.