$UNI Borrowers who took out loans to buy ran away in half a day, over ten percent of them—while those who paid cash are still standing there holding on. It’s really nothing at all. On-chain lending and buying reduced, the debt growth rate turned negative, and leveraged longs have already gotten scared. Spot longs are still pretending to be dead. Futures contracts actively sold into the market, crushing buy volume—there’s no one to take the other side anymore. That’s just how it is.