Stacy in Dataland (´⊙~⊙`)

TRON Inc. has doubled down on its native token, purchasing 312.5M TRX for $110M at $0.2739 per token — following a $100M buy in June. While most firms opt for BTC or ETH, TRON is stockpiling TRX as a treasury asset, now holding 677.5M tokens at a blended entry of $0.3099.

CEXs have dominated crypto narratives over the past 30 days. Their influence and activity are once again on the rise like we're back to 2017.

As the attention economy fades, information itself becomes the asset. Here’s why information markets matter, who’s leading, and how you can position early. Read my research report on information markets (and how to be early).

This week, DeFi reclaimed the spotlight, surpassing L1s in mindshare for the first time in a while. The long-standing L1 dominance has been disrupted.

Despite dwindling activity, Solana DEXs are still generating ~$2M in daily revenue. Even in decline, volatility keeps the cash flowing.

Stablecoin-related companies captured around 25% of all crypto fundraising in Q3 so far—a record share for the category.

$USDe surged to $13B following the Binance listing news and Hyperliquid integration plans. But the rally may be masking early signs of a looming sell-side liquidity crunch.

August was a record month for Maple Finance, generating $1.4M in revenue — a 360% YoY increase. Sustainable earnings like this set it apart from protocols that rely solely on token emissions.

Kamino is now the second-largest protocol on Solana by TVL, surpassing $4.3B. It’s cementing its role as a major force in the ecosystem.

Icymi, Falcon is soon going live on Buidlpad. Here's my research on the bull, base, and bear case for Falcon, with some margin notes. Read it here

New research? You know what to do 😎 General ➖Crypto.com: Research Roundup Newsletter (September 2025) ➖ CoinGecko: Cost of An iPhone in Bitcoin & Ether, Over The Years ➖ Binance: Weekly: Do Rate Cuts Really Drive Bitcoin's Price? ➖ Galaxy: Weekly Top Stories - 9/05/25 Market ➖ 4pillars: From CRCL to FRAX: The Next GENIUS Act Play ➖Crypto.com: Institutional Adoption of Ethereum – The Next Big Trade for TradFi ➖Crypto.com: Market Update (August 2025) ➖ CoinGecko: ETH/BTC Ratio Below 0.05 for 14th Consecutive Month ➖ Coinbase: Weekly: Scrutinizing Labor Statistics ➖ Binance: Monthly Market Insights - September 2025 ➖ Glassnode: BTC Market Pulse: Week 37 ➖ Glassnode: Accumulating in the Gap ➖ Galaxy: The Gold Rush Returns DeFi ➖ DL Research: Can DePIN be sustainable? Breaking down The Shaga Model ➖ CoinGecko: Market Share of Decentralized Crypto Exchanges, by Trading Volume ➖ Galaxy: The State of Onchain Yield: From Stablecoins to DeFi and Beyond Blockchains & networks ➖ 4pillars: XION: The Invisible Blockchain Powering the New Internet ➖ The Defiant: Parallelizing Stellar Core: The First Step Toward 5000 TPS

This week’s crypto buzz: the NPM hack, CPI anticipation, and Eightco’s surprising investment in Worldcoin. Nasdaq filed with the SEC to enable blockchain-based trading of tokenized stocks and ETFs. Meanwhile, Solana and its memecoins ($BONK, $USELESS, $FARTCOIN) are stealing the spotlight.