It’s not the Strait driving oil prices higher—it’s the refining process.
On October 6, Trump said on social media that the Strait of Hormuz was no longer the reason gasoline prices were rising, since record amounts of oil are now being produced almost every day. The problem lies with “refineries”: Russian refineries are being blown up by Ukraine, while U.S. refineries are being shut down in blue states such as California.
There’s no shortage of supply; what’s lacking is processing capacity.
The same mechanism applies to crypto: what holds prices back is never how many coins are issued at the source, but whether the middle layer can channel those tokens to buyers. If any part of the pipeline narrows—exchange depth, market making, fiat on-ramps, or custody—newly issued coins can’t reach the market. They just pile up off-exchange, making them less likely to push prices down. Institutions and whales focus on this layer, not the big number for token issuance.
Keep an eye on three figures: net exchange inflows, stablecoin issuance, and shifts in the direction of large transfers. If one rises while another contracts, that’s a sign the pipeline is narrowing.
#ADA surges 10% to break above $0.27
On October 6, Trump said on social media that the Strait of Hormuz was no longer the reason gasoline prices were rising, since record amounts of oil are now being produced almost every day. The problem lies with “refineries”: Russian refineries are being blown up by Ukraine, while U.S. refineries are being shut down in blue states such as California.
There’s no shortage of supply; what’s lacking is processing capacity.
The same mechanism applies to crypto: what holds prices back is never how many coins are issued at the source, but whether the middle layer can channel those tokens to buyers. If any part of the pipeline narrows—exchange depth, market making, fiat on-ramps, or custody—newly issued coins can’t reach the market. They just pile up off-exchange, making them less likely to push prices down. Institutions and whales focus on this layer, not the big number for token issuance.
Keep an eye on three figures: net exchange inflows, stablecoin issuance, and shifts in the direction of large transfers. If one rises while another contracts, that’s a sign the pipeline is narrowing.
#ADA surges 10% to break above $0.27
