According to Flood (@ThinkingUSD), the perpetuals (perps) market has maintained over $25 billion in revenue consistently for the last five years and is continuing to grow in trading volume, while memecoin application revenue plus AMM stands at approximately $3 billion and is currently experiencing a decline in trading volume. The memecoin sector, despite only existing for two years, faces high user churn due to 90bps taker fees, Jupiter routing, MEV, and slippage. In contrast, perps offer more stable and scalable trading opportunities. The yet-to-be-factored-in stock perps market could further boost overall crypto trading volume. These dynamics suggest a shift in trader focus from volatile memecoin platforms to the more robust and growing perps sector, which may impact liquidity and trading strategies across the crypto ecosystem (source: https://twitter.com/ThinkingUSD/status/1930039588858540047).