I watched NEM’s price collapse from $0.0036 to $0.0025 in four snapshots—not a market glitch, but a slow unraveling of trust. With trading volume dropping 60% and turnover falling below 17%, this isn’t just volatility—it’s governance decay. I dissected the chain data: no treasury, no stakeholder alignment, just silent liquidity drains. This is what happens when DeFi pretends to be decentralized but operates on centralized incentives. Read the numbers. They’re screaming.