token unlocks continues to pressure spot-led moves
The healthier setup is alignment: risk appetite improving while MEV dynamics stays orderly.
Builders and treasuries should track developer activity even when social feeds obsess over user retention.
Put beside current chatter on “Kevin O’Leary Says His Michael Jordan Card Is Worth $2 Million,” the incentive problem looks clearer.
In that environment, patience is a position, not a slogan.
Improvements in developer activity without confirmation from user retention tend to fade faster.
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