Narrative
Hook: DeFi is showing signs of fatigue; the category's leader is struggling. What happened: The category's leader, pBTC, saw a 14% drop in 24 hours. Why it matters: This shift indicates a potential market shift, as breadth is narrowing. Receipts: 5228a22e72ccc52d415ecfd199f99d0665e7733b; 99.7% category volume share. How to verify: Check the 24-hour change for pBTC; monitor category volume share over the next few days.