All this, as institutions move in different directions.

With OI down and netflows still positive, we may be going into a reset.

TVL has fallen consistently over the past year.

SOPR and momentum indicators make the caution obvious.

The gap between app revenue and token value is becoming hard to ignore.

Derivatives positioning may be weary with negative funding rates across the board.

Investor dependence on BTC is more apparent than ever now.

Stable developer activity may be a sign that the core is still strong.

Record perp selling and leverage might make the next move risky.

Private credit stress will tell us whether the yields mean something.

Back to back BoJ and Fed meetings could trigger a chain reaction.

Solana’s RWA base also crossed $2.5B in Q1 2026.