episodes like $RAVE should make us question whether parts of crypto are actually markets in any meaningful sense

$RAVE does not look interesting to me because it was extreme,

it looks interesting because it reveals the true logic underneath many alt perp markets and i take joy analysing into their modus operandi

the lesson here is that price is not the output of broad conviction

ugliest part is that retail paid most of the bill:
- 15mil trades analyzed
- $28mil in liquidations
- users lost $17mil

however coins like $HYPE accruing true value for token holders and have held through the entire 2026 much stronger than any other alt and have outperformed $BTC

even though $EDGE @edgeX_exchange is probably another case of low float, high supply control by the team, i have to give it its due recognition that its probably the next strongest perp dex to @HyperliquidX in terms of token performance post TGE. i dont think the team will pull a stunt like what @RaveDAO did because they cant afford to do that so i believe long term upside is the way that it will go.

my only longs that are probably in the green are only $HYPE and $EDGE

so look for the strong coins in the weak market and that strategy always play out.

https://x.com/arndxt_xo/status/2045763086142075017