Imagine, for a moment, a world where crisis, conflict, and war run rampant. A world of failed institutions, corporate cynicism, and individual greed. A world where the past is brighter than the future. This may just sound like a bad dream, but for m... Read more

In January, Limit Break released the first edition of its Creator Tokens – a further developed version of EIP-4910’s on-chain royalty solution. The reasons were two-fold. First, to shift the power from NFT exchanges towards creators and collectors. A... Read more

Inflation slowed for the 10th consecutive month, with CPI coming in at roughly 4.9%, slightly lower than the 5.0% expectations. Core CPI came in at roughly 5.5%, matching expectations. While we are seeing CPI continue to soften, it is worth noting t... Read more

Piggybacking on Aaron and Andrews’ brilliant take on BRC-20, I provide some quickfire traction metrics. The number of Ordinal inscriptions on the Bitcoin network has surpassed 5 million, and the trend shows no sign of slowing down. BRC-20 tokens pla... Read more

Since the peak of the BTC bull market in late 2017 (when we saw over 2.8 million BTC transactions confirmed in a single week) the network has yet to reach a higher weekly total. That was until two weeks ago when nearly 3 million transactions were c... Read more

I’ll admit that’s a dramatic headline, but I’m still a bit in awe at how well BTC continues to track its post-ATH drawdown from last cycle. I’ve shown this chart before, and right now BTC is trading exactly where it was at the start of June 2019, ju... Read more

NFT marketplace DMarket has seen almost $9.5M in sales volume over the past week (~$1.6M in 24hrs) all thanks to CS:GO in-game items! It is still true that platforms such as Opensea and Blur maintain the lead, holding levels of more than $2M and $8... Read more

This month’s musings have less to do with “the market” per se and everything to do with “the system” we’ve come to see as constant and never-changing. Ever since the fall of the Berlin Wall in 1989, the Washington Consensus has been the dominant pa... Read more

Over the last 12+ months, metrics such as open interest, volume, cumulative volume, deltas, funding rates, etc. have become more popular. I have written about these metrics more extensively in many of our Market Notes as well as in our Markets Framew... Read more

Throughout April, major NFT marketplaces such as OpenSea, Blur, OpenSea Pro, and X2Y2 all witnessed a decline in weekly trader counts, indicating a continuing downward trend in NFT trading since February 2022. The peak trader count for the year was... Read more