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Has Inflation Peaked?
...a pivotal moment in the Fed’s fight versus inflation....Concerns over services inflation and a potential wage-price spiral are a threat to the peak inflation...Has Inflation Peaked?...From a historical perspective, inflation peaks when the Fed has driven interest rates above the YoY inflation...
10 Min
Macro & Markets
Aug 2022
Monthly Chartbook - Inflation Cooperates, But Is It Enough?
Powell reaffirmed his stance once again, stating the committee’s desire to curb inflation at seemingly...
20 Min
Macro & Markets
Nov 2022
Bitcoin Is Not An Inflation Hedge
Inflation is Eating the World Inflation....Bitcoin is Not an Inflation Hedge It’s easy to point fingers in hindsight....There’s an important difference between inflation (as is commonly measured by indicators like CPI) and...At the time, many were still holding onto the narrative that BTC was an inflation hedge, even as CPI...
9 Min
Macro & Markets
Jul 2022
Chad Rallies, Inflation, & The Policymakers Conundrum
...see their developer update) To summarize, Axie is nixing daily quest and PVE rewards to combat SLP inflation...Inflation Risk – Damned If You Do, Damned If You Don’t While some may argue crypto operates independent...Real yields have continued to rise (driven by higher nominal yields and stagnant inflation expectations...
11 Min
Macro & Markets
Feb 2022
BTC Production Cost, Bitcoin as Inflation Hedge, and Fuel Deep Dive
Bitcoin Is Not An Inflation Hedge [Excerpt from a Delphi Insights report] It’s easy to point fingers...There’s an important difference between inflation (as is commonly measured by indicators like CPI) and...At the time, many were still holding onto the narrative that BTC was an inflation hedge, even as CPI...
6 Min
Infrastructure
Jul 2022
Leading indicators point to further upside inflation risk
If you’ve been following our leading indicators, today’s inflation data should not surprise you....Our leading indicators have been signaling growing upside risks to inflation over the past 3 months....Iran-induced inflation is putting upward pressure on headline CPI… …with leading indicators for core...
2 Min
Macro & Markets
Jun 2026
Do Airdrops Hurt More Than They Help?
...metrics shared above can help make more informed decisions before buying into tokens for projects with inflated...metrics and even more inflated valuations....Token airdrops often lead to inflated activity pre-snapshot and declines post-distribution.
25 Min
DeFi
Jul 2024
The Case For Plasma One: Stablecoins Are Eating The World
Argentina crossed 200% inflation in 2023. Nigeria’s naira lost over 60% of its value since 2022....Sustained inflation or FX instability, visible onchain stablecoin usage, and weak consumer banking infrastructure...Inflation and Everyday Dollar Demand Somewhere past 20% annual inflation, sustained for a few years,...
14 Min
DeFi
Aug 2026
World: A Trillion Dollar Opportunity, or Just Another Low Float, High FDV?
Some quick notes: Projected Annual Issuance is the primary driver of inflation in the circulating...Rate is the % unlocked YoY (based on the unlocks) Actual Inflation Rate is the actual inflation YoY...In other words, can the network’s value creation outpace its high inflation?
26 Min
AI
May 2025
Sanctum: Solana's Overlooked Fundamentals Play?
This could be partly due to Solana’s higher inflation rate, which naturally penalizes non-stakers....inflation with a smart issuance model....Even without SIMD-0228, Solana inflation decreases 15% per year until it settles at long term inflation...High SOL inflation appears to be a temporary phenomenon.
10 Min
DeFi
Jul 2025
Market Musings - Eternal Chop
...for markets: …restrictive monetary policy will likely play an increasingly important role [in getting inflation...Getting inflation sustainably back down to 2 percent is expected to require a period of below-trend economic...But the inflation and labor market data show an evolving situation.
10 Min
Macro & Markets
Aug 2024
Inflation + real yields biased higher = headwind to Bitcoin
Headline inflation came in largely in line, but the more important signal is income and spending drifting...Looking at leading indicators, inflation pressures are unlikely to fade....Not to mention the additional supply-driven inflationary pressures – which had been rising for the 5...Headline inflation came in largely in line, but the more important signal i...
1 Min
Macro & Markets
Apr 2026
Something’s Gotta Give
The Pledge Renewed inflation worries, soaring bond yields, growing deficit concerns, a strong US dollar...“Peak dovishness” may have marked the bottom in UST yields…but inflation is not the biggest driving force...Inflation concerns also rose both in the US and abroad, as did term premiums, which caused a jump in...
7 Min
Macro & Markets
Jan 2025
High off the Halving
This will drive Bitcoin’s annualized inflation rate down from roughly 1.7% to 0.85%.Although every halving...Many naysayers were quick to criticize BTC as a debunked inflation hedge when CPI started to rip in 2022...But bitcoin isn’t an inflation hedge in the way many ascribe it to be.
7 Min
Macro & Markets
Apr 2024
No Pain, No Gain
Simply put, strong economic momentum and renewed inflation concerns dampen the case for rate cuts....The Dollar, Debt Monetization, & Monetary Inflation In December, Howell believed the US dollar would...Howell also believes the broader trend of monetary inflation will continue to benefit monetary inflation...
13 Min
Macro & Markets
Apr 2024
The Dark Night Rises - Part 1
Inflation is a lot more under control than it was 12-18 months ago — but there’s still a risk that easing...This is reflected in the CNY’s real exchange rate — adjusted for differences in inflation rates — which...JPY weakness has coincided with a notable rise in domestic inflation expectations… …which is helping...
23 Min
Macro & Markets
Jul 2024
zkVerify Memo: Integration Flow, Potential Markets, and Token Economics
Validator Rewards and Inflation Model A dynamic staking mechanism will secure the zkVerify network with...a variable inflation rate designed to optimize participation and economic security....contributing to the network will receive the transaction fees for the blocks they produce plus the inflation...
22 Min
Infrastructure
Apr 2025
Scaling Real World Assets on Avalanche
This is especially powerful in high-inflation economies, where access to stable, dollar-denominated yield...offers access to digital dollars and crypto, helping users protect their savings in areas where annual inflation...As high inflation erodes local currencies, Belo offers an accessible alternative for income preservation...
16 Min
Infrastructure
Oct 2025
Delphi's Market Matters - August 2026
Inflation and the market’s hawkish repricing of future Fed policy remain a risk as we head into the back...half of the year, with our models indicating softening inflation pressures Equities have recovered to.... • Inflation and the market’s hawkish repricing of future Fed policy remain a risk as we head into the...
56 Min
Macro & Markets
Aug 2026
The Treasury just underwrote our term premium call
The macro drivers (growth and inflation leading indicators, unemployment, Fed balance sheet, rates vol...The risk remains a vol event (the MOVE index has been suppressed YTD) or our inflation leading indicators...Suppressing the term premium while nominal growth runs near 6% socializes inflation risk onto currency...
9 Min
Macro & Markets
Aug 2026