Trend · Nov 9, 2026 01:00 UTC

liquid staking is overpricing short-term positioning

Ignoring market makers because RWA tokenization looks exciting is how late-cycle mistakes compound.

Ignoring liquid staking because basis trades looks exciting is how late-cycle mistakes compound.

Treat liquid staking as the constraint and basis trades as the amplifier, not the other way around.

Most blow-ups start as comfortable consensus.

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