drawdown recovery is supporting carry strategies
The loudest story is not always the decisive one.
Treat open interest as the constraint and cycle psychology as the amplifier, not the other way around.
Against the backdrop of “IREN’s Bitcoin Mining Revenue Falls as AI Cloud Sales Nearly Triple” and “Samsung Wallet’s USDC on Solana Is Live”, positioning still matters more than slogans.
Improvements in drawdown recovery without confirmation from restaking tend to fade faster.
If validator economics deteriorates while market makers looks fine, the tape often turns defensive first.
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