Analysis · Nov 12, 2026 00:21 UTC

stablecoin velocity is overpricing carry strategies

Keeping a written thesis helps avoid narrative whiplash.

A clean chart can hide a crowded trade.

Against the backdrop of “Crypto Long & Short: The GENIUS Act’s guarantees don’t cover DeFi lending” and “Deutsche Bank Switches On Bitcoin Custody for Paying Clients”, positioning still matters more than slogans.

Treat stablecoin velocity as the constraint and stablecoin settlement as the amplifier, not the other way around.

The edge is often just refusing to confuse volume with conviction.

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