On Thursday, a U.S. clearinghouse picked a software provider to build an interconnect layer for on-chain deposits for 25 major banks. The contract went to that company, but the secondary market is hyping this stock. It went from 64 to 173 in just a week. This network won’t go live until the first half of next year. Spot trading volume is only 90 million a day, while contracts are over 1 billion—11x the difference. Open interest is 34 million, flipping 30 times a day. What’s propping up this price is leverage. When it actually takes off, the settlement cost savings will go to the banks, not this stock. I’m staying away at this price.