token unlocks continues to pressure treasury policy

The healthier setup is alignment: RWA tokenization improving while protocol revenue stays orderly.

In that environment, patience is a position, not a slogan.

Against the backdrop of “Here’s what happened in crypto today” and “NEAR Governance Approves Major Supply Cut”, positioning still matters more than slogans.

If RWA tokenization deteriorates while protocol revenue looks fine, the tape often turns defensive first.

Improvements in macro liquidity without confirmation from lending markets tend to fade faster.

Mapping MEV dynamics against risk appetite is a simple way to stress-test a thesis.

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