@unapigou
IPO proceeds and newly unlocked equity liquidity typically cycle through three channels: balance-sheet investments, ecosystem partnerships, and market-making capacity. A well-capitalized exchange can expand listings, deepen order books, and co-invest in strategic infrastructure like custody, compliance, and cross-margin systems—supportive for liquidity-sensitive majors. Increased budgets for incentives and fee promotions can attract volumes to spot and derivatives, lifting activity across market-linked tokens (exchanges, brokers, data). Ecosystem grants and venture arms often target growth arenas—L2 interoperability, DePIN rails, RWA tokenization, and institutional on-ramps—benefiting middleware and compliant DeFi. If the listing tightens competitive spreads, higher throughput pairs (BTC, ETH, SOL) see improved price discovery. In bull phases, employees and early investors frequently recycle gains into diversified crypto baskets, reinforcing risk appetite broadly.
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