i kinda agree after observing bags eco for awhile

i don't quite like the narrative bags is running and i don't think its sustainable at all as well

also seems to me that participants are quite eager to find the next alternative to pump since bonk's recent step down

might be the culture of finding beta plays at work here

the next contender is about to step into the light

New "caution is warranted" signal is SOLBTC pumping

SOLBTC is the new ETHBTC

*TRUMP: HARDLY ANY INFLATION AT ALL
(@WalterBloomberg)

Risk appetite among professional investors is surging:

Institutional investors’ equity allocation rose to 54.8% in July, the highest since the early months of the 2008 Financial Crisis.

This is now ~4 percentage points above its long-term average.

Excluding 2008, such a high allocation has only been seen during the 2000 Dot-Com Bubble.

Institutional investors now hold 17.5% of their capital in cash and 27.6% in fixed income excluding Treasury Bills.

All while State Street’s Investor Risk Appetite Index hit its second-highest reading in 11 years last month.

Professional investors have rarely been this bullish.
(@TheKobeissiLetter)

According to Reuters, Citigroup is considering offering custody and payment services for stablecoins and crypto ETFs. Its first focus is providing custody for high-quality assets backing stablecoins, while also exploring custody of digital assets supporting products such as bitcoin spot ETFs. Citi is additionally developing services to use stablecoins to enhance cross-border payments and enable instant settlement. — link