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$CORE still shows on-chain activity, but the economic picture remains weak. Thirty-day fees sit around just $254.80, while TVL continues to decline. That creates a clear divide: capital is rotating toward $BTC for the macro trade, while some is favoring revenue-generating names like $BICO. Active wallets and transactions can look impressive, but without sustainable revenue, activity alone doesn’t validate the thesis. The next upgrade may change the story $CORE $BTC $BICO #XiaomiQ2Earnings