Protocol Revenue tells the real story. The fact that certain Perp DEXs are outperforming peers right now? That's your clearest signal about market sentiment—and honestly, risk-on is literally the only game in town right now.

Look at the numbers: protocol revenue is surging across the board. At the same time, token buyback programs are accelerating, which creates genuine demand pressure. Meanwhile, meme tokens keep leading the charge in performance metrics. It all points to the same direction—capital is aggressively rotating into risk assets, and the market consensus is clear: growth over caution.