
Circle processed $32 trillion in USDC transfers, yet 95% of its revenue relies entirely on interest rates
Coin Metrics found market plumbing drove much of the volume while reserve income supplied 95.2% of Q2 revenue.
Read crypto research, data-driven reports, on-chain studies, and analytical deep dives into Bitcoin, Ethereum, and Web3 trends.

As Bitcoin’s block subsidy declines, researchers are looking beyond total miner revenue and toward a more granular security signal: how sharply transaction fees change from one block to the next.

Hazync’s developer reports millisecond verification for blocks 1 through 1,789, while the full-chain proving campaign remains unfinished.

A new preprint says off-book routing damped liquidation feedback inside Hyperliquid, while wider market effects remain untested.

Anza’s 50,000 SOL pool unlocks by severity, while changing eligibility and duplicate rules leave researchers bearing the filing risk.

Distributed samplers replace fresh public randomness while a common random string, DDH, LWE, and proof-of-work assumptions remain.

The paper trail instead reveals Binance pricing failures, on-chain ADL and a disclosure gap regulators have yet to close.



