Crypto and equities are converging, Gate executive says
Gate’s head of stock market development, Lucas Sum, said in a recent interview on Cointelegraph’s Chain Reaction that crypto and stocks are quietly moving closer together and are increasingly becoming part of the same macro trade.
Sum said the correlation between the crypto market and the Nasdaq index is now above its five-year average, with the coefficient at one point rising above 0.8. He added that market sentiment remains cautious overall, with more capital parked in stablecoins and other lower-risk assets while investors wait for a clearer catalyst.
RWA and tokenized Treasuries keep growing
Sum said the next market cycle may no longer center on a “crypto versus Wall Street” narrative. Instead, he sees traditional financial assets accelerating into the digital financial system through on-chain infrastructure.
According to Sum, the RWA market has grown from about $12 billion a year ago to more than $30 billion, while tokenized U.S. Treasuries have reached roughly $15 billion. He said those figures show that on-chain financial infrastructure is still expanding.
He also said macro liquidity, real yields and regulatory clarity remain important drivers for risk assets. In that environment, investor attention is shifting from single-asset allocation to coordinated multi-asset allocation.
Gate expands its stock business
Sum said Gate continues to broaden its stock products and now covers U.S., Hong Kong and South Korean markets. The company plans to extend further into more global markets and provide infrastructure for multi-asset investing.