funding rates is rotating through basis compression
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 “Metaplanet swings to $170M loss as Bitcoin sale hits earnings.”
When treasury diversification and staking yields disagree, sizing down beats inventing a clever story.
If both funding rates and Asia session flows improve together, follow-through is more believable.
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