With Ordinals becoming more popular, one big question remains: which marketplace will people use? Early Ordinal traders used spreadsheets, anon escrow agents, discord chats, and many other high-trust tools to buy and sell Ordinals. High-trust tools... Read more

It’s been nearly a month since the SEC & NYDFS’s enforcement against Paxos and BUSD. So what’s happened? BUSD redemptions have ramped up quite quickly, with BUSD down nearly $8B (~50%) in the period. Overall, stablecoins are down ~$2.4B, with both US... Read more

The pace at which global liquidity has been expanding looks to be slowing. At the same time, we’ve seen risk assets rollover the last few weeks. We noted earlier in the year how the reversal in liquidity trends back in October was a key catalyst beh... Read more

Despite overall volume and user base declining after the airdrop, recurring users actually make up on average 70% of all daily users on SudoSwap since November 2022, with this figure reaching all-time high of 79% on Dec. 12. SudoSwap offers immediate... Read more

Lens is one of a handful of protocols building an on-chain social graph. Incubated and developed by the team at Aave, Lens has found considerable usage after launching on Polygon PoS. Over 2023, Lens has seen daily users grow from one plateau to a h... Read more

Yuga Lab’s Twelvefold auction concluded this afternoon. All 288 of their first-ever ordinal collection sold out over 24 hours of bidding at an average price of 2.55 BTC per Ordinal. As the first significant brand inscribed Ordinals on Bitcoin, I spen... Read more

bLuR’S tRaDiNg acTiViTIeS aRe aLL fAkE, iTs wAsH tRaDeS! Is this statement true? We take a closer look below. Based on @hildobby’s magical querying filter, we can see that a mere 11% of traded volume was flagged as wash trading throughout Blur’s exi... Read more

It can be easy to become overwhelmed by the sheer amount of information in the space – especially regarding governance. As such, I decided to help cut some signal from the noise and present two governance threads I recommend people follow: Aave’s GHO... Read more

Liquidity conditions for NFTs today are highly exceptional. I don’t expect this to last forever — real interest in NFTs is still limited today. The massive liquidity on Blur likely starts to taper off from here. What are the implications? There is... Read more

Recent Research 📊 Radiant Capital Finds Initial Traction, But Will It Sustain? – 3/1 While money markets like Aave exist on many different blockchains, they don’t have full cross-chain functionality. Radiant v1 leverages Stargate’s stable router i... Read more