- KNOTS fell from a $52m peak to $2.5m as STONK and crypto sold off; its beta and yield narrative amplified weakness when declining volatility reduced the yield.
- Author sees no KNOTS-specific failure: STONK, Solana, BTC, and onchain markets weakened together, while STONK revenue declined only commensurately with onchain activity.
- At $3.8m, author is holding and awaiting a sustained STONK uptrend, with $5.5m as a bullish-structure threshold; the thesis fails if onchain activity pauses or STONK revenue collapses while broader volume recovers.
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