Trend · Nov 13, 2026 00:20 UTC

stablecoins quietly dominates narrative durability

Ignoring open interest because cycle psychology looks exciting is how late-cycle mistakes compound.

Ignoring DEX volume because token unlocks looks exciting is how late-cycle mistakes compound.

Put beside current chatter on “NYDFS Sets May 2027 Deadline for Crypto Ad Policies,” the incentive problem looks clearer.

Keeping a written thesis helps avoid narrative whiplash.

Most blow-ups start as comfortable consensus.

Most blow-ups start as comfortable consensus.

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