Analysis: Wall Street funds flood into cryptocurrency stocks, but the heat in the cryptocurrency industry is not synchronized According to Matrixport's analysis, Circle's heavyweight IPO has pushed its valuation to $24 billion, far higher than Coinbase's proposed acquisition price a month ago, which was considered a 'bargain hunt'. The success of this IPO has once again ignited Wall Street's enthusiasm for cryptocurrency concept stocks. However, compared to the strong performance of cryptocurrency stocks, the overall cryptocurrency market has not shown the same level of heat. Data shows that Bitcoin funding rates not only remain low, but even fell to negative values at one point. This indicates that some investors may hedge their risks by shorting Bitcoin while going long on cryptocurrency concept stocks. Although the public market sentiment is optimistic, this sentiment has not yet fully transmitted to the cryptocurrency itself, and the market heat still needs further observation.