Narratives fade fast in crypto.
The most hyped project is now fighting for top 100.
$TIA

► @PhalaNetwork revenue exploded from 22M to 87M $PHA in just 6 months.

$Sui DEX volume dropped to its lowest level, from $1.5B to only $200M a day now.
[Data: @artemis]

Bitcoin txn fee is still at bear-market levels and we’re expecting a major bull run?

Bitcoin fees are still at bear-market levels.

In the last 2 months, more than $50B TVL has been wiped out from DeFi ecosystem.
TVL peaked at $172B and today we’re sitting at $120B.
people think this is the end of DeFi.
It’s not.
this is the clean-up phase triggered by retail greed before major run.
some of the strongest DeFi protocols are now sitting at cycle-low prices while continuing to ship and grow revenue:
$AAVE $EIGEN $PENDLE $ENA

.@Celo just flipped every L2 in active users.
Daily Active Users - 743K
- More than Base
- More than Arbitrum
- More than every other L2

Celestia’s dominance in data availability is collapsing.
- Started the year above 80%
- Now around 18%
- Ethereum sits near 75–80%
$TIA

.@arbitrum is the number one chain for DeFi bridge flows in 2025.
$ARB

Gm friends 🫂

Who designed this disaster?
there’s a special place in hell waiting for you.

THE IMPOSSIBLE JUST HAPPENED.
The biggest corporate Bitcoin holder on earth is now valued less than the Bitcoin it owns.
They hold 650,000 $BTC
Worth $86,200 each today = $56B
But the company’s market cap is $45.7B
Wall Street is pricing the business at negative $10B.
$MSTR is down 57% since October.
The flywheel that built this empire has reversed.
Forced selling risk is real.
Break-even price: $74,436.
This isn’t just about one company and it’s a stress test for corporate Bitcoin adoption.

Tech was good. Market didn’t care.
$TIA

$1.3T wiped out from the crypto market in the last 3 months.