DeFi angle: open interest keeps surprising consensus on hedging demand

When books are thin, narratives look stronger than they are.

Put beside current chatter on “Anthropic's AI Is Getting Cheaper to Use. That's Becoming a Problem for Its Business,” the incentive problem looks clearer.

Meanwhile, cycle psychology can either confirm the move or expose it as temporary.

Markets rarely move for a single reason.

Keywords: rates · compound · Explorer of Digital Finance · treasury