When the Market Watches Supply but the Build Tells a Different Story
What stands out to me with SIGN right now is the mismatch.
Most of the conversation is still stuck on supply, unlocks, emissions… the usual short-term lens. And yeah, that matters. It always does. But it’s also the easiest narrative for the market to latch onto.
At the same time, there’s actual activity building underneath. Incentives, usage, infrastructure slowly taking shape. And that part feels like it’s getting less attention than it should.
So you end up with this gap.
People trading the float, while the system itself keeps evolving in the background.
Maybe that’s normal.
But those are usually the moments I pay more attention, not less.