Federal Reserve's Daly just made a statement: Inflation is still too high and must be kept under control; the labor market has clearly cooled down.

Translated, this means—The economy is already struggling to breathe, but the Fed is still hesitant to loosen policy.

As a result, the market enters its most painful phase: liquidity isn't increasing, risk assets are depreciating, and investment sentiment is collapsing.

So, what are you seeing? Bitcoin's big red candle wiped out a month's gains, ETH broke through key support levels triggering chain reactions of liquidations, and altcoins are collapsing across the board.

Everyone's asking: Where did the money go?

The answer is pretty simple—it's flowing into safer places with real yields.

What counts as "real income" now? Not meme coin hype, not point-earning games, and not bubble projects. It’s those networks with actual settlement rights and real-world applications.

Look at who’s expanding against the trend:

What are traditional financial institutions doing? Visa is moving cross-border payments onto the blockchain using underlying technology; major payment processor Stripe is launching stablecoin settlements on the same chain; big firms like Franklin and UBS are creating tokenized funds, with ecosystem support still coming from traditional finance; multi-chain liquidity and unified clearing solutions like AggLayer are also in play.

Funds aren’t leaving crypto entirely—they’re withdrawing from the casino and flowing into financial infrastructure.

Why can this chain absorb this wave of capital?

Because it doesn’t rely on storytelling to make money; it earns through the operation of the economic system. More on-chain payments mean higher revenue, more active stablecoins mean higher fees, larger RWA (Real-World Asset) onboarding means bigger profit sharing, and a thriving Layer 2 ensures stable underlying yields.

Others are betting on price swings; this chain is collecting tolls. While others are fighting for gains and losses, it’s just counting its fees. When markets are volatile, it doesn’t panic—it just earns.

No matter how bad market sentiment gets, one thing remains unchanged: money must settle, and settlement is migrating to this chain.

During panic, the smartest move isn’t fleeing or blindly gambling, but positioning early for structural winners.

When the Fed hesitates to loosen policy, each time liquidity recovers a bit, the first beneficiaries are those with the lowest transaction costs, safest clearing, and most widely adopted, compliant settlement layers.

Daly’s comments tell us one thing: Emotions may die, but infrastructure will survive, and the right to charge fees will always be valuable.