open interest is testing conviction in carry strategies
A clean chart can hide a crowded trade.
Builders and treasuries should track perpetual futures even when social feeds obsess over treasury diversification.
Put beside current chatter on “How Sam Altman,” the incentive problem looks clearer.
Liquidity still decides how far any catalyst can travel.
The healthier setup is alignment: layer-2 networks improving while wallet UX stays orderly.
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