The second half of the most recent bull market, colloquially named the "double bubble," was dominated by the "L1 Wars" narrative. The initial spark was Avalanche's announcement of "Avalanche Rush," a...

Interest rate derivatives are perhaps the most underdeveloped and underexplored area in all of crypto. Interest rate projects have struggled mightily to attract liquidity, and seemed forgotten about t...

Liquid Staking Derivatives (LSDs) enable users to swap ETH in return for a derivative token that represents staked ETH. LSDs let users bypass the frictions of staking ETH: (i) the technical know-how o...

Crypto derivatives refer to financial contracts, such as futures and options, that derive their value from underlying assets like BTC and ETH. These contracts enable traders to speculate on or hedge t...

Welcome to our monthly coverage of NFTs and the metaverse. This month: Pudgy Penguins raises $9M in Seed funding, led by 1kx, as they look to expand their IP beyond static images. Nike’s .SWOOSH platf...

Level Finance is an oracle-based margin and spot trading decentralized exchange (DEX) that emerged following the success of GMX. Its growth has been remarkable since launching in 2023, achieving volum...

Daily active addresses on Uniswap are spiking to levels not seen since May 2021. Why is this? Well, one of the main reasons is meme tokens, of course. The current rally’s poster boy, PEPE, has rallied...

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...

How are we already one-third of the way through 2023? Well, as a wise man once said: “Time flies when the market is intent upon separating you from your capital.” – Jason Pagoulatos...

Leverage is a double-edged sword, and is frequently misunderstood in the realm of crypto trading. While it can act as a profit multiplier for disciplined traders, it simultaneously serves as the harbi...

In early February, we wrote about the turnaround in the global liquidity cycle and its influence on the market’s strong start to the year. Since then, the broad crypto market is up ~14%, largely drive...

Despite the broader crypto market performing quite well in April, with ETH making a run past $2,000, the Web3 gaming sector continued to follow a downward trend. This report will add color to the curr...

Crypto-native social media is revving up to bring the competition to web2 social media. In this report, we explore Lens Protocol, the open-source, web3 social graph. The protocol has seen a substantia...

Protocols who are not able to capture the MEV they create will struggle to accrue value. This is where Skip comes in, providing the infrastructure for Cosmos appchains to capture their MEV....

Delphi Co-founder & Head of Research, Kevin Kelly, joins Founder & CEO of Real Vision, Raoul Pal, for April 2023's edition of Crypto Insiders where they dig into the most pressing questions at...

If you have been using social media platforms in the last decade, you have probably noticed that they are fumbling. This has been most apparent on Twitter. From arbitrary censoring of competitor links...

Perhaps "Solana Summer," which first gained traction in 2021, was just delayed by two years. In 2023, the Solana NFT ecosystem is flourishing more than ever. Numerous protocols are launching their tok...

As a critical component in the crypto ecosystem, stablecoins play a vital role in providing a safe haven for investors and serving as the asset of choice across exchanges, lending markets, and virtual...

Welcome to our monthly coverage of NFTs and the metaverse. This month: OpenSea Pro, Starbucks Odyssey, and the fierce competition for pro NFT traders....

Today we’re excited to reintroduce Delphi Digital’s research platform. From the very beginning, our mission has always been to make […]...