Trend · Nov 4, 2026 05:58 UTC

dollar strength continues to pressure basis compression

UNISWAP daily trend
UNISWAP daily trend

Ignoring stablecoin minting because bridge security looks exciting is how late-cycle mistakes compound.

Put beside current chatter on “CFTC Lets Traders Bet on Stocks With Crypto,” the incentive problem looks clearer.

The gap between RWA tokenization and protocol revenue is where false confidence usually builds.

Historically, stretches where RWA tokenization leads without support from protocol revenue invite sharper reversals.

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