on-chain fees is rotating through liquidity conditions

The healthier setup is alignment: on-chain fees improving while perpetual futures stays orderly.

For operators, process beats prediction when the tape is noisy.

Put beside current chatter on “US Sanctions 45 More Targets Tied to Alleged Crypto Scam Empire Prince Group,” the incentive problem looks clearer.

The healthier setup is alignment: on-chain fees improving while perpetual futures stays orderly.

Attention jumps quickly; capital moves more slowly.

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