Research

AI agents have settled $73 million in crypto payments over the past year. This research maps the full infrastructure stack and what comes next.

Anthropic is closing a $30B+ round at a $900B valuation as quarterly revenue doubles. We break down what the numbers actually mean for the frontier AI race…

Solana’s on-chain activity broke records in Q1 2026 even as SOL dropped 33%. A deep-dive into what the data says about the network’s real trajectory.

AI agents are settling transactions on crypto rails instead of legacy banking systems, and stablecoin infrastructure is emerging as the clear winner of tha…

Hyperscalers will spend close to $750 billion on AI infrastructure in 2026. Here is what that capital actually buys, and who wins the stack.

The United States Senate voted 66 to 32 on May 19 to advance the Guiding and Establishing National Innovation for U.S. Stablecoins Act, the first federal framework to directly govern dollar-pegged payment tokens. The vote broke a years-long legislative deadlock, and the bill now moves to the House with bipartisan momentum that virtually no observer…

A safety-focused AI lab founded three years ago by defectors from OpenAI is about to close a funding round larger than the GDP of Switzerland. Anthropic is finalizing a deal that will push its valuation to roughly $900 billion, surpassing OpenAI as the most valuable private AI company on the planet, and it is doing…

The stablecoin market crossed $230 billion in aggregate supply by May 2026, a figure that would have been unthinkable during the 2022 Terra collapse that wiped $40 billion from the category in a single week. Yet the fundamental question that collapse forced into the open has never been fully answered: when the dollar peg breaks,…

A fresh analysis of the Bitcoin blockchain has produced a number that is difficult to ignore: approximately 6.04 million Bitcoin (BTC), worth roughly $500 billion at current prices, sits in addresses whose public keys are permanently visible on-chain and therefore structurally vulnerable to a sufficiently powerful quantum computer. The threat is not theoretical in the…

The on-chain derivatives market has a new center of gravity. Hyperliquid, the layer-one blockchain purpose-built for perpetual futures and spot trading, has climbed to a $13.8 billion market cap for its native HYPE (HYPE) token as of May 22, making it the eleventh-largest cryptocurrency by market capitalization and the largest decentralized exchange by a wide…

A single-chain exchange built by a team that has never run a paid marketing campaign now processes more perpetual futures volume than most centralized competitors combined. Hyperliquid has crossed from niche experiment to structural force in global cryptocurrency derivatives markets faster than any protocol before it, and the data underneath that rise is more interesting…

Twelve months ago, Hyperliquid was a niche experiment: a fully on-chain order book that nobody in the mainstream had heard of. Today, with a market cap above $14 billion and a 24-hour trading volume exceeding $1.5 billion, it sits at rank eleven among all cryptocurrency assets and is the most actively discussed DEX platform across…

A decentralized exchange with no venture capital backing, no token presale to insiders, and a fully onchain order book has just printed a $13 billion market capitalization and is processing perpetuals volume that rivals some of the largest centralized venues on earth. That is not a forecast. As of May 21, that is the live…

Hyperliquid (HYPE) has done something no decentralized exchange managed in the previous decade of trying: it built a fully onchain order book that processes trades at speeds competitive with centralized venues, scaled it to a $12.4 billion market capitalization, and generated $863 million in 24-hour trading volume as of May 20. The question the broader…

A fully on-chain order book with no designated market makers and no off-chain matching engine routinely outpaces billion-dollar centralized exchanges on perpetual futures volume. That is the central paradox that defines Hyperliquid, the layer-one blockchain whose native perpetual DEX has reshaped how researchers and traders think about decentralized market structure in 2026. The project’s HYPE…