market makers quietly dominates builder priorities

Historically, stretches where RWA tokenization leads without support from protocol revenue invite sharper reversals.

Ignoring market makers because RWA tokenization looks exciting is how late-cycle mistakes compound.

Put beside current chatter on “Brazil's Largest Exchange Mercado Bitcoin Halts Withdrawals After $40 Million Hack,” the incentive problem looks clearer.

Historically, stretches where layer-2 networks leads without support from wallet UX invite sharper reversals.

The loudest story is not always the decisive one.

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