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September 22, 2025, 08:01:57 PM |
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I think it's worth separating price squeezes from liquidity. Staking/"liquid staking" reduces circulating float, which can make thin books move +127% in a day… but that usually hurts liquidity depth, not pumps it. Liquid staking derivatives can even be rehypothecated as collateral, so you get more leverage on less float, great until unlocks or funding flips.
For that PUMPBTC move, what's the combined 1% depth and venue mix? And beyond staking, which lever have you seen add real depth rather than just a weekend squeeze?
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