Jessie Xiao(@jessiexiao_eth):Thanks to CoinFerenceX for having me on the "Follow the Liquidity" panel in Singapore! My main points: 1. Capital is concentrating, not spreading. Q3 crypto financing hit its lowest deal count since at least 2023, with the top ten deals taking 58%. 2. Privacy is underread. It's not a coin trade, it's a prerequisite. No treasury desk wants its balances on a public ledger. 3. TVL is overwatched. Retention after incentives end tells you whether capital is real. 4. Watch North Asia. Won pairs are about 30% of global spot volume with no won stablecoin yet. My one bet- the next wave of liquidity goes to confidential rails for dollars and Bitcoin. Thanks to my fellow panelists for a sharp debate!

2026.10.09 08:10

Thanks to CoinFerenceX for having me on the "Follow the Liquidity" panel in Singapore! My main points: 1. Capital is concentrating, not spreading. Q3 crypto financing hit its lowest deal count since at least 2023, with the top ten deals taking 58%. 2. Privacy is underread. It's not a coin trade, it's a prerequisite. No treasury desk wants its balances on a public ledger. 3. TVL is overwatched. Retention after incentives end tells you whether capital is real. 4. Watch North Asia. Won pairs are about 30% of global spot volume with no won stablecoin yet. My one bet- the next wave of liquidity goes to confidential rails for dollars and Bitcoin. Thanks to my fellow panelists for a sharp debate!