Pull up the numbers real quick.

Here's something that doesn't add up: roughly 99.99% of tokens see zero bonding activity. Zero. And that's not even the wild part—most holders aren't even staking or locking their positions. So what gives?

If you're holding, why aren't you? If you're not, what's stopping you from the upside? The gap between circulating supply and actually committed capital tells you everything about market sentiment. Most people aren't believers in what they own; they're just riding momentum.

Think about it—true believers lock their bags. They stake, they bond, they participate in governance. But the data screams otherwise. It's either FOMO buying with zero conviction, or nobody actually thinks these tokens are worth holding long-term.