perpetual futures keeps surprising consensus on narrative durability

Treat perpetual futures as the constraint and treasury diversification as the amplifier, not the other way around.

Keeping a written thesis helps avoid narrative whiplash.

That debate sits next to today’s market focus around “THORChain's RUNE jumps 10% as North Korean hackers resume laundering Binance loot.”

Treat DEX volume as the constraint and token unlocks as the amplifier, not the other way around.

If both Ether and DEX volume improve together, follow-through is more believable.

The gap between bridge security and custody rails is where false confidence usually builds.

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