stablecoin minting is overpricing narrative durability: reading the Pump.fun Adds tape

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

That debate sits next to today’s market focus around “Pump.fun Adds Cross Margin to Hyperliquid.”

Better questions beat louder opinions when regimes shift.

Builders and treasuries should track macro liquidity even when social feeds obsess over lending markets.

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