Trend · Nov 13, 2026 00:21 UTC

on-chain fees is rotating through treasury policy

Cycles rhyme, but the plumbing underneath keeps changing.

Even when feeds obsess over “Illinois Crypto Tax Draws Unlikely Alliance of DOJ, Banks and DeFi,” the durable question remains process versus prediction.

In practice, on-chain fees and perpetual futures interact before price fully reflects either one.

The loudest story is not always the decisive one.

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