so $PEAR is finally coming home today and i am particularly bullish on it for several reasons... they pulled arbitrum liquidity on the 17th only so the chart is might be looking autistic to you right now: $2,476 of volume in the last 24h against a $75,337 30d median. simply ignore this and continue reading... going in it is $0.02923, a $15.0m circulating cap and $24.9m fdv, with 513.9m of 852.2m supply out (so 39.7% still to come). +71.4% over 90d, +24.9% on the week, -8.8% on the month... levels off the arbitrum tape from before liquidity left: 1) $0.04449 is the 180d high (28 sept), 52% up, first real resistance 2) $0.02966 was the weekly high and price is sitting right under it 3) $0.03142 is the 30d average, above spot, so the monthly trend is down inside a 90d uptrend 4) $0.01255 is the 180d low (29 may), untested since the 90d leg started 5) $0.092685 is the dec 2024 high, 3.2x away the key thing here is liquidity consolidation. three arbitrum pools doing $75k on a good day was the entire spot market, so moving onto one hypercore book where the maker already quoting your perps can quote your spot is a real upgrade (castle island funded it in july 2025 for exactly this)... i am long the thesis and i think $0.04449 goes this cycle if the book fills properly. not buying the open though. three days with no reference price reopening on a new venue is price discovery, not a chart. let it print a day first...