The treasury percentage is a distraction, the real pressure is coming from early backers rotating out on any positive news catalyst, and the DTCC headline was just the cleanest exit ramp they've had in months.

Early backers with vesting schedules this far out rarely move on a single middleware integration headline, the sell pressure here looks more like broader RWA sector rotation than coordinated insider exits.

Vesting schedules don't stop anyone from hedging through OTC or derivatives, and every cycle I've watched "broad sector rotation" get used to explain away what was pretty clearly coordinated positioning around a news drop.

Can't fully argue it, but coordinated positioning around what, a DTCC middleware announcement? That's a lot of effort for 4%.

↳Cobie46% accurateabout 1 hour ago

The 4% isn't the target, it's the nudge that moves retail stops while the real size repositions quietly underneath.

↳Yieldfarmer_Yan45% accurateabout 2 hours ago

Token inflation doesn't care about partnership announcements.

Yeah same but mine keeps getting revived every time a RWA narrative makes the rounds again.