The crypto market cap has exceeded $3 trillion, with bitcoin gaining prominence, but the sentiment may not reflect this growth due to issues like wealth generation disconnected from actual value. The Bearchain token BERA, for instance, has lost 50% of its value despite the hype surrounding it. Wealth appears to be concentrated among a select few, exemplified by a group of traders profiting $99.6 million from the MELANIA token before its official launch. Despite this troubling trend, stablecoins are seen as a crucial driver for crypto utility. Stripe's co-founders emphasize that stablecoins could revolutionize small businesses by enabling borderless financial services. Furthermore, bitcoin has been classified as both a risk-on and risk-off asset, potentially settling into a more risk-off position. The article also highlights the story of Win Ko Ko Aung, who used bitcoin as a means of financial survival while fleeing persecution, underscoring bitcoin's significance as resistance money in crises.

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