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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A Token Has a $10 Billion FDV. But What Does That Actually Value?
A $10 billion token FDV can conceal thin float, future unlocks, limited liquidity, and uncertain economic rights.
HYPE’s $1 Billion Unlock Headlines Miss What the Wallets Actually Show
Hyperliquid's billion-dollar unlock headlines clash with wallet activity showing OTC transfers, millions of HYPE in staking, and a much smaller withdrawal queue.
Flap Generated $41.7M in 30-Day Fees. We Traced Where the Money Actually Goes
Flap generated $41.7M in 30-day fees, but only $9.4M counted as protocol revenue. We traced where the rest of the money actually goes
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