perpetual futures quietly dominates narrative durability

Liquidity still decides how far any catalyst can travel.

If on-chain fees deteriorates while perpetual futures looks fine, the tape often turns defensive first.

Put beside current chatter on “7,934 New XRP Wallets in One Day: Network Activity Defies Sunday Slowdown,” the incentive problem looks clearer.

The healthier setup is alignment: restaking improving while cold storage trends stays orderly.

Attention jumps quickly; capital moves more slowly.

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