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RESEARCH


June Newsletter: BTC Remains Near ATH, ETH ETF Gaining Strength, Cirlce IPO, ALTs Biding Times.
Summary This edition dives into the most important stories and narratives from May 2025. We cover the macro backdrop driving markets...
Jun 94 min read


May Newsletter: Macro Dominates Everything, but Bitcoin Dominates Crypto
Introduction: Navigating the New Crypto Order April has laid bare the truth investors can no longer ignore: markets are no longer steered...
May 710 min read


Understanding DeFi Token Valuation: A Comprehensive Analysis of Value Drivers, Metrics, and Strategies
Executive Summary Decentralized Finance (DeFi) has emerged from experimental protocols in 2018 to a mature ecosystem with billions in...
Mar 3139 min read


March Newsletter: Tariffs on, Tariffs Off, Market Up, Market Down
February 2025 witnessed major developments in the crypto industry, with the U.S. government taking unprecedented steps to integrate...
Mar 214 min read
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