Trend · Nov 8, 2026 00:01 UTC

self-custody adoption is fragmenting basis compression

Ignoring DEX volume because token unlocks looks exciting is how late-cycle mistakes compound.

Improvements in DEX volume without confirmation from token unlocks tend to fade faster.

That debate sits next to today’s market focus around “Bitcoin Is Repeating The 2023 Setup That Sparked Its Last Major Rally, Analyst Says.”

If both self-custody adoption and developer activity improve together, follow-through is more believable.

Ignoring DEX volume because token unlocks looks exciting is how late-cycle mistakes compound.

In that environment, patience is a position, not a slogan.

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