The Block••1 min read
Wintermute Data: Crypto Liquidity Concentrated in BTC and ETH in 2025
According to Wintermute, crypto liquidity in 2025 was primarily concentrated in Bitcoin (BTC) and Ethereum (ETH), along with a few other major cryptocurrencies. The report indicates that the emergence of ETF and treasury channels influenced the allocation of capital within the crypto market. The concentration of liquidity suggests a preference for more established cryptocurrencies amid broader market dynamics.
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