🐋 WHALE WATCH: One detail from last week’s MRNA selloff is worth revisiting. The stock fell roughly 25% and was halted on its primary exchange, but the MRNA perpetual on @arcus_xyz continued trading through the halt. That meant traders could still open, reduce or close positions while the underlying market was paused. For 24/7 RWA markets, that distinction matters. Traditional trading halts can stop activity in the underlying asset, while the perp market can continue working through the move and forming a price.