RWA tokenization keeps reshaping basis compression

If RWA tokenization deteriorates while protocol revenue looks fine, the tape often turns defensive first.

If user retention deteriorates while stablecoin velocity looks fine, the tape often turns defensive first.

Against the backdrop of “What If AI Agents Book You The Wrong Flight?” and “Bitwise’s André Dragosch: Bitcoin’s “Fair Value” of $197,000”, positioning still matters more than slogans.

Positioning often matters more than the headline itself.

In practice, lending markets and NFT liquidity interact before price fully reflects either one.

Stay close to what users and balance sheets are actually doing.

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