Given this unique topology, the following analysis will employ a sum-of-the-parts approach that values...should not be a substitute for fundamentals but something at a minimum to consider in an investment analysis...While this is not something that can be quantitatively baked into this analysis, it is nonetheless something...

Balance Sheet Analysis Note: USDT and TUSD are not included in this analysis as there is no detailed...This analysis can reduce information asymmetry, preventing excessive losses during events like USDC’s...

A comprehensive analysis of Blur, including potential cash flows and valuations that can be tied to the...A Comprehensive Analysis of Blur Blur has been able to achieve a level of product-market fit that has...For analysis purposes, we assume that Blur turns on the fee switch....Our analysis paints an optimistic picture.

For this analysis, we took a conservative approach, assuming 60% of the esGMX supply reaches circulation...For this analysis, 100% of fees are included as earnings...., Ashwath Balakrishnan, and Brian McRae for editing; and to Christian Cioce for assisting with data analysis...

In this report, we take a look at how the Ethereum ecosystem is holding up in light of the DeFi cool down and the market cycle rotation of alts into BTC with the favorable macro environment. We dive i...

The developments made during the bear market are paying off. Innovation on Ethereum continues at a torrid pace thanks to the composability of lego blocks built in DeFi. In this issue, we dive into var...

We dive into the kick-off of the multi-year transition to ETH 2.0. The launch has partially fueled an ETH rally for which we dig into deeper and we also cover the growth of DeFi underpinning the succe...

In this report, we analyze the increased usage on Ethereum and explain the impacts of the continuation of yield farming and experimentation on various sectors ranging from DEXs to stablecoins. We also...

Recent Parallel Timeframe & Move Magnitude The synchronized timing supports direct comparative beta analysis...

Since my last alpha feed post, Pengu has basically dumped and revived in the span of a few months. This post provides an update on Pengu changes and examines what might be driving the recent volatilit...

Airdrop Analysis Now let’s break down the current allocation game being run for USD.AI (which currently...

Shuffle ($SHFL) fundamental analysis: Transparent cash distributions, defensive characteristics, and...

Our analysis modeled a sizable 12% airdrop, but the team could opt for a smaller initial distribution...Our valuation analysis also supports this contrarian view....Deep dive analysis: How Pump.fun's $1.3B raise at maximum pessimism creates crypto's most compelling...

In this post, we provide an analysis of a commercially successful 4X / MMORTS game, Rise of Kingdoms,...similar to Arathi Basin in WoW) Tempest Clash (5v5 PvP mode which doesn’t use your commanders) Market Analysis...

Macro Outlook Crypto Market Review: Market Structure & On-Chain Observations L1s, L2s, & DeFi Analysis...$2100 Key support to the downside: S1: $1100-$1200 S2: $900-$1000 Post-Merge Fallout and On-Chain Analysis...On-Chain Analysis Arguably the most debated topic stemming out of the Merge is how ETH’s new supply dynamics...

When doing the same analysis on BTC in bear markets only, we find a different result....When revisiting the GMMA analysis common to our Chartbooks, we can see a dynamic that we are all too...L1s, L2s, & DeFi Analysis On Nov. 4th, Zeta Markets launched perpetual futures alongside dated...

This analysis from Jordan and Andrew attempted to reasonably evaluate the true impact the fee switch...Let’s just the say, the results — obtained from rigorous data analysis and modelling — were underwhelming...Read Uniswap’s Fee Switch Blur: A Fundamental Analysis of NFT Marketplaces In this report, Delphi Research...