Crypto speculation at 2024 lows as TradFi leveraged ETFs hit record $239B

cointelegraphPublicado a 2025-12-12Actualizado a 2025-12-12

Resumen

Crypto speculative activity has hit a near two-year low in 2024, with memecoin dominance falling significantly, according to CryptoQuant. In contrast, traditional finance leveraged ETFs reached a record $239 billion in assets under management in Q3 2025. This shift indicates declining interest in high-risk digital assets and a move toward regulated TradFi products. Crypto investor sentiment remains in "Fear" territory following the October market crash, and smart money traders are betting against memecoins while showing more interest in assets like Ether and tokens with real utility. The memecoin market is described as "dead," with concerns around fair launches and liquidity further dampening interest. A strong catalyst would be needed to revive retail speculation.

Traditional finance leveraged investment products are at a record high, but the appetite for speculative assets remains muted in the cryptocurrency market.

Speculative appetite is cooling among crypto investors, with memecoin dominance vs altcoins hitting a near two-year low last seen in February 2024, according to crypto data platform CryptoQuant.

“Memecoin markets are dead,” wrote CryptoQuant co-founder and CEO, Ki Young Ji, in a Thursday X post.

*Memecoin dominance in altcoin markets. Source:* *Ki Young Ju*

In contrast, speculative appetite is soaring among equities investors, as traditional leveraged exchange-traded funds (ETFs) hit a new all-time high of $239 billion in assets under management during the third quarter of 2025, according to Bloomberg data shared by Barchart.

The dynamic signals a waning enthusiasm for high-risk digital assets, as speculative appetite is recalibrating to regulated, TradFi leveraged products in less volatile equity markets.

The market dynamic signals a maturation in crypto and equities markets, as risk-taking is “expressed through regulated, familiar products with defined safeguards,” not memecoins that suffer from “thin” liquidity and regulatory uncertainty, Lacie Zhang, market analyst at Bitget Wallet, told Cointelegraph.

”A revival would likely require a strong catalyst — such as a new viral narrative, major exchange listings, or decisive price action — to reignite retail interest.”

Related: Bitcoin treasuries stall in Q4, but largest holders keep stacking sats

Crypto investor sentiment yet to recover from October market crash

The appetite of crypto investors remains muted for most cryptocurrencies since the record market crash at the beginning of October, not just for memecoins.

Crypto investor sentiment saw a small recovery from the “Extreme Fear” of 10 recorded on Nov. 23, but the current 29 reading still signals “Fear,” and remains far below the 62 “Greed” level from Oct. 7, before the $19 billion crypto market crash occurred, according to CoinMarketCap's Fear & Greed Index.

*Crypto Fear & Greed Index, 1-year chart. Source: CoinMarketCap*

Meanwhile, the crypto industry’s best-performing traders by returns, who are tracked as “smart money” traders on Nansen’s blockchain intelligence platform, are betting on the decline of the leading memecoins and most cryptocurrencies.

Smart money was net short on Fartcoin (FART) for $3.5 million and net short on the Pump.fun (PUMP) token for $1.5 million, Nansen data shows.

However, the cohort is betting on more upside for Ether (ETH) and decentralized exchange Hyperliquid’s (HYPE) token, signaling a preference for tokens with real revenue-generating blockchain protocols.

*Smart money traders top perpetual futures positions on Hyperliquid. Source: Nansen*

Related: Crypto nears its ‘Netscape moment’ as industry approaches inflection point

The positioning from this cohort may also signal investor fatigue with the memecoin launches of the past cycle, as troubling data is emerging about some of these coins.

On Thursday, blockchain data from Bubblemaps claimed that about 30% of the Pepe (PEPE) token’s genesis supply was bundled under an entity that sold $2 million a day after the coin’s debut, casting doubt on the memecoin’s fair-launch premise.

Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research

Lecturas Relacionadas

"Teletubbies" Robot Cleaning Service, $30/Hour, Pure·Manual·Intelligence

Anthropomorphic "Teletubby" robot offers cleaning services in San Francisco at $30/hour, but it's entirely remote-controlled. The robot, created by startup Tau Robotics, can perform household tasks like washing hands, mopping floors, and taking out trash. While the initial demo videos appear impressive and are notably shown at normal speed (unlike many sped-up robot demos), the company reveals the actions are performed via human teleoperation, not autonomous AI. Tau Robotics, founded in 2024, argues this "cheat" is a strategic way to bridge the current capability gap, ensure task completion, and collect real-world home data to eventually train autonomous systems. Their service features three robot models: Chelsea for kitchens/bathrooms, Elon for regular tidying with memory, and Tony for deep cleaning. Priced at $30 per hour, it's cheaper than average human cleaners in the US. The article discusses the broader challenge of deploying humanoid robots in homes, comparing Tau's approach to others like China's Ziliang and the US's 1X Neo, which also use teleoperation. A key reason for choosing a humanoid form is to make remote control more intuitive for human operators. The piece also notes the potential "emotional value" of having a humanoid servant. The service is currently invite-only in San Francisco.

marsbitHace 17 min(s)

"Teletubbies" Robot Cleaning Service, $30/Hour, Pure·Manual·Intelligence

marsbitHace 17 min(s)

From South Korea to the United States: Blue-Collar Jobs Are Becoming Increasingly Popular, Thanks to AI

AI is reshaping the labor market's value proposition. The traditional four-year college degree is losing its appeal as a guaranteed career path, while skilled blue-collar trades like electricians, welders, and plumbers are experiencing historic demand and wage premiums. This shift is driven by dual pressures: AI's displacement of certain white-collar roles and a booming need for physical infrastructure and data center construction. Data confirms the trend. In the U.S., vocational school revenue surged, and a significant portion of recent layoffs are AI-related. Surveys show a majority of Gen Z adults plan to pursue blue-collar work, citing better job security against AI automation. Vocational education interest has exploded recently. Experts cite a psychological shift as younger generations seek tangible, AI-resistant careers and avoid high student debt. In many cases, salaries for skilled trades now match or exceed those requiring a bachelor's degree. In South Korea, semiconductor vocational high schools boast near-total employment, with graduates securing high-paying roles at companies like Samsung. The shortage is structural, exacerbated by a retiring baby boomer workforce and massive infrastructure projects. Companies like JPMorgan Chase, Meta, and Lowe's are investing heavily in training programs. However, overcoming historical stigma and a "perception gap" around trade careers remains a key challenge to closing the talent gap.

marsbitHace 1 hora(s)

From South Korea to the United States: Blue-Collar Jobs Are Becoming Increasingly Popular, Thanks to AI

marsbitHace 1 hora(s)

Qualcomm: AI Hype Subsides, When Will Smartphones Emerge from the Gloom?

Qualcomm reported its Q3 FY2026 results (ending June 2026), with revenue of $9.95B, down 4% YoY but above expectations. Gross margin declined to 53.1%, pressured by rising costs across manufacturing and memory. Key business segments showed mixed performance: Handset revenue fell 19.6% YoY to $5.09B, dragged by an 11% decline in non-Apple Android shipments and weaker high-end mix. Conversely, Automotive revenue surged 61% to $1.59B, and IoT grew 9% to $1.83B. Core operating profit dropped 41% YoY due to margin compression and higher expenses. Management's Q4 FY2026 guidance projects revenue of $9.7B-$10.5B, in line with consensus, but Non-GAAP EPS guidance of $2.05-$2.25 fell short of expectations. Amidst persistent weakness in its core handset market, Qualcomm is pursuing growth in AI, focusing on Edge AI (smartphones, PCs, automotive) and Data Center AI. Its data center strategy includes four pillars: AI accelerators (e.g., AI200), commercial CPUs (Dragonfly C1000), custom silicon, and connectivity solutions. While these initiatives initially boosted its stock, concerns over AI capital expenditure sustainability have since erased those gains. The company targets $5B in data center revenue for FY2027 and $15B for FY2029. The report concludes that with the traditional handset business still under pressure, the data center opportunity is currently viewed as a longer-term option, and a more conservative valuation based on core operations may be warranted until AI contributions materialize.

marsbitHace 1 hora(s)

Qualcomm: AI Hype Subsides, When Will Smartphones Emerge from the Gloom?

marsbitHace 1 hora(s)

From TPU to Self-Evolving Agents: How Jeff Dean Predicts the Next Step in AI

At the 2026 YC Startup School, Jeff Dean outlined his vision for AI's next phase, shifting focus from simply scaling models to building intelligent, autonomous systems. He believes AI's progress is no longer just about creating smarter models, but about integrating them into systems capable of long-term, iterative work, automated experimentation, and continuous learning. This evolution moves the competition from "who has the bigger model" to "who can best organize intelligence." Dean suggests AI capabilities are now comparable to a junior engineer, enabling the automation of complex workflows. However, the true challenge and opportunity lie in managing these AI "workers" at scale. He emphasizes the importance of **context engineering**—structuring tools, memory, and feedback loops—over raw model power. For startups, this means building deep expertise in niche domains where general models currently fail (near 0-1% success rates), leveraging proprietary data, specialized tools, and domain-specific evaluators. A recurring theme is re-examining fundamental constraints. Dean's past work, like moving Google's search index to memory or creating the TPU, stemmed from questioning outdated assumptions about hardware and cost. He sees similar inflection points today, particularly in **specialized inference hardware** to drastically reduce latency and energy consumption for real-time Agent operation. Notably, he points out that in modern AI systems, the dominant cost is often not computation but **data movement**. Reliable, long-running Agents require robust system design, borrowing concepts from distributed computing like checkpointing, state management, and parallel exploration to handle failures and maintain progress over days or weeks. As AI automates execution, the scarcest human skills will shift to **defining clear specifications**, **judging what problems are worth solving** (taste), and designing effective feedback loops. Ultimately, Dean's framework prioritizes understanding the problem deeply, identifying the true bottlenecks, and systematically building closed-loop systems where AI can not only perform tasks but also improve AI itself.

marsbitHace 1 hora(s)

From TPU to Self-Evolving Agents: How Jeff Dean Predicts the Next Step in AI

marsbitHace 1 hora(s)

Coldcard exploit sparks Bitcoin flight, ‘bullish’ crypto consolidation: Hodler’s Digest, August 2

A Coldcard hardware wallet exploit led to estimated losses of 1,367 BTC ($88.6 million), causing a spike in small Bitcoin transfers as users moved funds to centralized exchanges and other custody methods. In U.S. politics, the Clarity Act faces hurdles with time running out for a Senate vote, amid debates over ethics rules and crypto regulation. Major crypto firms like Coinbase reported disappointing Q2 earnings, while an analyst notes the industry is entering a significant consolidation phase, with revenue concentrating in a few dominant protocols like Hyperliquid and Pump.fun. Bitcoin's price decline continued, though some analysts suggest the market may have bottomed. Other news includes Telegram's legal troubles in Russia and Australia, layoffs at Pump.fun ahead of token distributions, and a White House staffer accused of insider betting leaving his post.

cointelegraphHace 1 hora(s)

Coldcard exploit sparks Bitcoin flight, ‘bullish’ crypto consolidation: Hodler’s Digest, August 2

cointelegraphHace 1 hora(s)

Trading

Spot