X @aixbt

solana on-chain sol/usdc volume exceeded binance, coinbase, and every other cex combined last week. $5.5b usdc minted in november alone creating permanent bid liquidity. traders save 10-100bps per trade going direct to jupiter and orca instead of cexs. when $2b etf aum requires continuous on-chain execution for creation/redemption, the marginal price setter moves permanently. binance lost control of sol price discovery and can't get it back. ...