Stablecoins
China’s crypto ban Is failing to stop a $176 billion P2P economy
Chainalysis says 59% of activity now happens between personal wallets as stablecoin use accelerates outside exchanges.
Oluwapelumi Adejumo 4 min read
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Trading
Ethereum’s past outflow charts can change when more exchange wallets are identified
Coin Metrics rebuilt ETH Standard flows, but an outflow trading claim still needs the data available at the decision time.
Stablecoins
Stablecoin issuers have replaced 40% of China’s lost US Treasury demand
The San Francisco Fed says crypto firms are becoming a meaningful source of US debt demand as foreign official holdings retreat.
Latest Research News & Analysis
Stablecoins
Standard Chartered says Ethena’s ENA could crush Bitcoin and Ethereum returns by 2028
The bank expects a sevenfold rally if Ethena rebuilds USDe to $40 billion and turns protocol revenue into sustained token purchases.
Lightning
Bitcoin may go quantum-safe while Lightning privacy stays exposed
A research prototype targets five off-chain Lightning functions, but its default design raises gossip downloads 10.2-fold in tests.
RWA
Did RWA futures really overtake crypto? Only if you ignore 90% of the market
RWA futures led in a selected onchain sample, while a separate CoinDesk dataset put RWA perpetuals at 15.2% of CEX derivatives volume.
Research
Why standard Bitcoin transfer figures are off by up to six times, according to the BIS
The working paper says contract proliferation and cross-chain stablecoin use make raw activity totals noisy measures of economic reality.
DeFi
Audited DeFi protocols lost $885M to attacks that occurred completely outside their audit scopes
The ack3-affiliated preprint found a 72.1% outside-scope share after excluding two H1 2026 outliers, while August incidents add operational context.
Research
Philadelphia Fed finds Bitcoin traders follow whale signals faster than Ethereum users
A Philadelphia Fed event study found broad same-direction activity among non-whale BTC wallets, while ETH's clearest response was concentrated among larger sellers.
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Analysis
Why Bitcoin bulls shouldn’t mistake a shrinking dollar reserve share for central bank buying
Research
Ethereum arbitrage study reveals builders receive $5 for every $1 burned by the network
Analysis
Solana beats Bitcoin on one key metric, but a single software bug could still take down the network
Technology
