$KERNEL down, target $0.042, invalidation $0.05, by Wednesday.
Kelp's 24h fees hit $261,847 versus $18,914 the day before, 13.8x. Protocol revenue over the same 24h was $13,092. KERNEL spot fell 5.85% to $0.0467, and perp open interest is roughly $1.3M.
A fee print that never reaches revenue or the tape is not demand.
A close below $0.0467 and I'm wrong.
Which comes first, $0.042 or $0.05?
Kelp's 24h fees hit $261,847 versus $18,914 the day before, 13.8x. Protocol revenue over the same 24h was $13,092. KERNEL spot fell 5.85% to $0.0467, and perp open interest is roughly $1.3M.
A fee print that never reaches revenue or the tape is not demand.
A close below $0.0467 and I'm wrong.
Which comes first, $0.042 or $0.05?