as risk-free yield rates fall (e.g. 10-year treasuries, FOMC rate cuts), more and more funds will chase the higher yield that crypto-staking offers
doubt we are at a top yet
but for reference signs of a top forming are (imo):
a) funds seem to have accumulated more than they can handle/risk, they slow acquisitions.
b) funds start delta-neutral strategies, perpetually hedging and selling yield.
Together, study what happened with Celestial (aka $TIA)
Until then, hodl.
Ciao 🫡
One top scenario I'm watching for is compressing rates in trad drive them to go for more exotic things like yield from ETH staking, etc. and we see a large wave of capital raise to pile into that.
Feels like that could represent the final push of capital, the final raise.
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