perpetual futures is testing conviction in builder priorities

Improvements in perpetual futures without confirmation from treasury diversification tend to fade faster.
Builders and treasuries should track perpetual futures even when social feeds obsess over treasury diversification.
That debate sits next to today’s market focus around “Ledger CTO Sounds Alarm Over New Cryptographic Threats to Bitcoin.”
Improvements in venture funding without confirmation from US session flows tend to fade faster.
Improvements in open interest without confirmation from cycle psychology tend to fade faster.
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