0xResearch Newsletter

The treasury company now holds 673,783 BTC, but flow is more likely to be episodic in this year’s financial climate

Ranger’s Jan 6–10 sale could re-accelerate MetaDAO volumes and revenue

ETH derivatives show a disciplined rebuild of risk, with rising open interest pointing to healthier leverage

BTC finished the week up 1.6%, while L2s, RWAs and the treasury trade continued to grind lower

DTCC moves DTC-custodied Treasuries onchain via Canton, while Lighter’s LIT launches trading at a fees multiple in Hyperliquid territory

Yield Basis introduces an IL-free AMM design that already dominates BTC DEX liquidity

As Hyperliquid and Lighter battle for perps DEX dominance, Boros could capture the structural upside

Hyperliquid’s weekly volume trails newer rivals as a Lighter airdrop looms

Gold is having its best year since 1979, while many DeFi names are trading near multi-year lows

Maple is outperforming peers on growth, yield, and revenue — while benefiting from limited supply overhang and clear value accrual

2025 saw a huge compression in the valuation of new tokens, with the steepest losses in infrastructure and gaming

The AI sector was the top loser on the week, trading down -26%

The platform turns to onchain rails for Solana assets while crypto M&A and fundraising surge to cycle highs

Robinhood is pushing deeper into high-margin market design, joining competitors like Kalshi and DraftKings

Meanwhile, recent acquisitions continue to neglect tokenholders

Unit economics inflect, institutional capital shows up onchain, and market structure continues to evolve

The Nasdaq slipped yesterday after disappointing Q3 revenue from Oracle

Lightspeed IR, launched with the Solana Foundation, aims to give allocators a single surface for diligence and communication

BTC leads a broad crypto bid as ETFs post their strongest inflow in weeks

The exchange between Kamino and Jupiter has escalated from healthy competition to a clear public dispute

Crypto lags behind TradFi benchmarks, but trends in stablecoins, deposits and loans point to durable multi-year growth

Kalshi raises a billion dollars, and Trump’s new Fed Chair pick is imminent

Despite a soft market backdrop, Solana DeFi tokens showed relative strength, with Sanctum leading the pack

Nearly 40% of Hyperliquid’s daily active users trade through third-party frontends rather than the native UI