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LIQUIDITY: BTC IS THE ASSET, ETH IS THE INFRASTRUCTURE $BTC and $ETH use different liquidity models. $BTC concentrates liquidity around a scarce, standardized asset — supporting store-of-value demand, trading, and institutional capital. $ETH takes another path: infrastructure where stablecoins, tokenized assets, DeFi, and financial applications interact. BTC concentrates liquidity around an asset ETH expands liquidity across an ecosystem Different models — same goal: shaping crypto capital flows