Jun 30, 2026 12:41 PM
Crypto’s most popular product is a ghost town for serious money. While perpetual futures drive market volume, they aren't credible derivatives—they are speculative tools for retail gamblers. JPMorgan finds institutional demand is non-existent because perps lack structural integrity. Even worse, 50% of volume is funded by just 12 wallets, proving the "liquidity" is a centralized illusion unfit for real hedging. Is the backbone of crypto trading just a house of cards? What's your take?
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