While leverage was getting scorched: → Institutional adoption kept climbing → Stablecoin volumes hit new highs → On-chain rails stayed active and liquid
That tells you something important.
This wasn’t a demand collapse. It was a leverage reset.
Bad debt out. Weak hands gone. Real capital stayed.
That’s how sustainable cycles are built.
Markets don’t die from liquidation events, they get healthier from them. What we’re seeing now is the foundation phase, not the end of the story.
✍️ Conclusion: $154B flushed the froth, not the future. The floor holding through that is strength. 2026 won’t be built on hype, it’ll be built on lessons learned the hard way.
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🔥 $154B WIPED… AND THE FLOOR STILL HOLDS
This year has been brutal, no sugarcoating it.
Over $154B in liquidations got nuked across the market.
Retail over-leveraged.
Tourists got washed.
Late longs learned expensive lessons. 🐒
But here’s the part most people are missing…
While leverage was getting scorched:
→ Institutional adoption kept climbing
→ Stablecoin volumes hit new highs
→ On-chain rails stayed active and liquid
That tells you something important.
This wasn’t a demand collapse.
It was a leverage reset.
Bad debt out.
Weak hands gone.
Real capital stayed.
That’s how sustainable cycles are built.
Markets don’t die from liquidation events, they get healthier from them. What we’re seeing now is the foundation phase, not the end of the story.
✍️ Conclusion:
$154B flushed the froth, not the future.
The floor holding through that is strength.
2026 won’t be built on hype, it’ll be built on lessons learned the hard way.