on-chain fees continues to pressure medium-term allocation

Most blow-ups start as comfortable consensus.

Desks that separate protocol revenue from exchange reserves tend to react less emotionally to noise.

Against the backdrop of “Pump.fun Cuts Referral Share to 37.5% as 4x Boost Ends” and “Solana Mobile Says Fake 'SKR Claim' App Reached Store Spotlight”, positioning still matters more than slogans.

Useful frameworks survive longer than seasonal slogans.

None of this is financial advice; it is a framing for cleaner decisions.

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