The main thing that keeps each DAT mania phase going is the slowness of the Tradfi sector Because there is so much admin involved it takes a lot of time to launch a copycat But eventually they all come It started with BTC, the first phase of mania popped Now it’s with ETH DAT equities sending hard has nothing to do with the underlying asset price action, it’s pure speculation and the 2 main factors is how long it will take for copycats to come in, and how much attention you can retain in the meantime Eventually all the mNAVs retract so much that it because hard to raise more money, the stock dumps hard and retail (as usual) get rekt The only winners are the owners or seed investors, as usual