Discussion on the collapsing valuations of layer 1 blockchains, examining whether this reflects a permanent shift in market structure or temporary bear market conditions.
View full episode →“Retail orders are internalised and rarely hit the exchange, giving brokers and market‑makers the profit”
“Meme‑stock rallies gave retail traders a louder voice, but institutional participants still dominate price formation”
“Institutions value retail participation because it generates fee revenue (PFOF) and keeps markets liquid”