The Yen Broke. What Actually Moved Onchain?
First came risk transfer. Then exposure grew—mostly among traders already there.
First came risk transfer. Then exposure grew—mostly among traders already there.
On 8 July 2026, renewed U.S.–Iran escalation coincided with opposite moves in two commodity benchmarks: spot gold fell 0.52%, while front-month WTI settled 4...
Five Solana wrappers on one company, one issuer-designated conversion route, and nine weeks of swap-level flow through it. Public data only, no position take...
An empirical note on effective concentration under a capacity objective.