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The Curious Case of Concentrated Wealth's Slow Demise

Here we observe JAM, a specimen merely seventeen days old, possessed of all the right credentials—authorities revoked, liquidity present, even a modest following. Yet tragedy strikes not with a bang, but with a whimper, as ninety-six percent of its wealth pools in the hands of ten patient hunters. One watches, fascinated, as the market gently extracts an eight percent tribute in a single day; the concentration of power, it seems, breeds only the concentration of exit liquidity.