Analysis · Nov 9, 2026 01:01 UTC

on-chain fees is the overlooked driver of basis compression: reading the U.S. prediction tape

Attention jumps quickly; capital moves more slowly.

The healthier setup is alignment: on-chain fees improving while perpetual futures stays orderly.

Even when feeds obsess over “U.S. prediction markets regulator issues demand that clashes directly with courts,” the durable question remains process versus prediction.

Desks that separate Bitcoin from layer-2 networks tend to react less emotionally to noise.

Builders and treasuries should track market makers even when social feeds obsess over RWA tokenization.

More insights