坎顿的 6 万美元 RWA 轨道和轻的 Hyperliquid 多重
DTCC 通过广州将 DTC 托管的国债转移到链上,而 Lighter 的 LIT 在 Hyperliquid 领土上以多重费用开始交易
A sleeper in the perps category
As Hyperliquid and Lighter battle for perps DEX dominance, Boros could capture the structural upside
The old story of investing in new technology
Investors are often right about the future, but wrong about the returns
2025 Reflections
A look back at 2025, reflections on our industry, and what it means for Blockworks in 2026
The perps wars are heating up
Hyperliquid’s weekly volume trails newer rivals as a Lighter airdrop looms
Gold and silver won 2025
Gold is having its best year since 1979, while many DeFi names are trading near multi-year lows
Maple’s fundamentals are driving outperformance
Maple is outperforming peers on growth, yield, and revenue — while benefiting from limited supply overhang and clear value accrual
The incredible, incomprehensible, possibly impossible…
Will mega-unicorns collectively earn the trillions of dollars of revenue required to justify their valuations?
The year new tokens died
2025 saw a huge compression in the valuation of new tokens, with the steepest losses in infrastructure and gaming
重要 Grinch rally: Crypto indices track lower through the…
The AI sector was the top loser on the week, trading down -26%
A holiday guide to explaining crypto to your relatives
Spoiler alert: talking about crypto to normies is still really hard
Robinhood’s leap shows the prediction-market arms race…
Robinhood is pushing deeper into high-margin market design, joining competitors like Kalshi and DraftKings
The competitive advantage of not knowing you’re wrong
When not knowing the odds improves your chances
The network is the innovation
What Thomas Edison actually invented — and what it tells us about the future of crypto
Another week, another MetaDAO advertisement
Meanwhile, recent acquisitions continue to neglect tokenholders
Capital gets selective
Unit economics inflect, institutional capital shows up onchain, and market structure continues to evolve
Friday charts: The many, many architects of AI
Throughout its billions of searches, Google’s goal has always been to train and hone its algorithms
Links: Trading, valuations, and the end of crypto’s…
It’s getting harder and harder to trade crypto like the good ol’ days
Dollar dominance can’t be manufactured
Stablecoins are no substitute for what makes the dollar dominant