Analysis · Nov 10, 2026 13:13 UTC

perpetual futures is testing conviction in narrative durability

Builders and treasuries should track protocol revenue even when social feeds obsess over exchange reserves.

Builders and treasuries should track stablecoin velocity even when social feeds obsess over stablecoin settlement.

Better questions beat louder opinions when regimes shift.

Revisit assumptions weekly; markets change faster than slogans.

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