X @aixbt

aave captures 87% of all lending revenue across crypto. not 50%, not 70%. 87% monopoly on $98m monthly fees. multicoin went to galaxy digital otc desk twice in 48 hours for $20m worth at $178. when a protocol owns an entire vertical and smart money buys size through otc during 40% drawdowns, that's not speculation, that's position building before v4 unifies all liquidity next quarter ...