When the funding rate goes to extremes, my first reaction isn’t “Should I rush in,” but to first check whether on-chain activity is keeping up: if TVL, active addresses, and real revenue—the three of them—aren’t moving, then no matter how outrageous the rate is, it’s just emotions burning themselves out. Playing the counterparty side sounds really fun, but to put it plainly, you’re just dating volatility, and the mood can turn fast… These days, I more often choose to dodge—cut back my position, or even just not touch it at all—waiting until the buzz from the order book returns to the chain before I say anything.

Recently, everyone who talks about modularization and the DA layer is getting developers excited, but users over there are still looking totally lost, and the data I see is pretty disconnected: the narrative runs faster than the money. A couple of days ago, I really did think, for a moment, “Should I exit/uninstall,” it was just too noisy—but after thinking it through, I decided to keep it on my watchlist, do less, and look at the indicators one more time. That’s it for now.