Trend · Nov 10, 2026 00:06 UTC

custody rails remains the swing factor for retai — developer activity still sets the tone f

Ignoring custody rails because miner behavior looks exciting is how late-cycle mistakes compound.

That debate sits next to today’s market focus around “EU taps industry to set standards for tokenized securities.”

Cycles rhyme, but the plumbing underneath keeps changing.

Improvements in developer activity without confirmation from user retention tend to fade faster.

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