Celestia sentiment hit multiyear lows per @_dexuai model (06 Jul 20:00 UTC). Down 92% from ATH, screening worst alongside $UMA.

Polychain sold $80m+ of staking rewards vs $20m principal. Most reward overhang already absorbed.

New governance proposal cuts inflation from 5% to 0.25% plus fee burn. Net issuance could go negative.

Demand metrics: blob posting up 3x in 3 months, cost/MB at ATL. Monad adopted Celenium explorer (06 Jul 17:42).

Float now 33% of total. Unlock pace drops sharply after Aug.