The morning pullback cooled down the market sentiment. But being calm doesn't mean being pessimistic. The current market logic is simple: risk awareness is increasing, but the willingness to participate still exists. Funds are more inclined toward participation methods with discounts and liquidity. My impression of the previous ETH was — like acquiring spot at a lower cost. No lock-up, instant spot upon arrival, and the control always remains in your hands. 42 million in funds participating, 540% oversubscription, USDT pool approaching 7