Latest Articles
KaspaRocket Has 180 Live Covenants. But How Much DeFi Activity Do They Represent?
KaspaRocket has 180 live mainnet covenants, but their trading activity remains a far more important question.
Meteora Looks Cheap at $180M. But Is Its Revenue Telling the Whole Story?
Meteora's revenue makes MET look undervalued, but token unlocks and conflicting figures complicate the investment case.
IOTA’s TWIN Enters EU Freight Pilot as Sweden and Estonia Test Digital Cargo Data
A Baltic freight pilot tests IOTA-linked infrastructure, but whether anything reaches the blockchain remains an open question.
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Hyperliquid Strategies Reported $621M in Profit. Its Operations Burned $17M in Cash
A $621 million quarterly profit concealed a different reality: HYPE gains surged while operating cash flowed out.
Millions of Blockchain Transactions. But Where’s the Real Economy?
Millions of transactions can conceal validator traffic, automated churn, weak demand, and fragmented economic value capture.
Stablecoins Move Billions Every Hour. How Much Is Actual Payment Activity?
Stablecoins move billions, but Ravel's calculations challenge what headline volumes reveal about actual payment adoption.
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