According to @MilkRoadDaily, perpetuals volume has reached about $400 billion per month, source: @MilkRoadDaily, Sep 15, 2025. According to @MilkRoadDaily, monthly revenue is over $100 million, source: @MilkRoadDaily, Sep 15, 2025. According to @MilkRoadDaily, these figures were reported before the introduction of $USDH, source: @MilkRoadDaily, Sep 15, 2025.

According to @MilkRoadDaily, Ethereum treasuries went from $0 on April 3, 2025 to over $20 billion in ETH within 160 days as of September 12, 2025 (source: @MilkRoadDaily on X, Sep 12, 2025). According to @MilkRoadDaily, the post compares this pace to MicroStrategy taking more than three years to reach $20 billion in BTC, underscoring a faster accumulation trajectory for ETH treasuries (source: @MilkRoadDaily on X, Sep 12, 2025). According to @MilkRoadDaily, the emphasis is on the speed and scale of ETH treasury accumulation, a data point the source highlights as a market narrative for traders monitoring institutional flows (source: @MilkRoadDaily on X, Sep 12, 2025).

According to @adriannewman21, he prefers taking equity in revenue-generating companies, ideally as tokenized equity, rather than holding revenue-linked tokens. Source: @adriannewman21 on X, Sep 6, 2025. He adds that he would even favor a company’s brand token over revenue-linked structures, describing revenue-linked tokens as in the middle of nowhere for investors. Source: @adriannewman21 on X, Sep 6, 2025. He also states that using operating revenue to buy back tokens does not make sense to him, signaling low conviction in revenue buyback token models. Source: @adriannewman21 on X, Sep 6, 2025. Trading takeaway: Under his stated approach, a portfolio would overweight tokenized equity or brand tokens and underweight revenue-linked buyback tokens when allocating capital. Source: @adriannewman21 on X, Sep 6, 2025.