Leading Crypto Industry Research and Analysis

As prediction markets gain broader market attention, Hyperliquid is preparing to integrate outcome-based trading directly into HyperCore. HIP-4 could turn event contracts into a native part of the platform’s trading stack, creating a more capital-efficient model for binary outcomes, hedging, and new derivatives-like products.

Institutional capital, tokenized assets, and new licensing regimes are pulling crypto exchanges into territory long held by brokers and banks. The result is a generation of multi-asset platforms competing directly with the traditional financial system they once sat alongside.

In 2025, TRON doubled down on its role as a stablecoin-first settlement layer, pairing ecosystem execution with steady on-chain growth. In H2, the network leaned into real-world distribution and infrastructure upgrades that reinforced TRON’s positioning as core financial rails.

Bitcoin is trading in the $72–75K range, funding rates are negative, and open interest is rising – a classic setup for a short squeeze. But the structure of this cycle is already different.

In February TradFi faced unplanned stress test due to geopolitics. While commodity exchanges were closed, DeFi provided continuous trading. We break down why RWA perps are more efficient than tokenization and how protocols like Hyperliquid capture volumes from classic markets.

In Q4 2025, the largest hedge funds slashed their BTC ETF positions en masse. But while the fast money was heading for the exits, long-term institutional players were quietly building exposure. Here's who's selling, who's buying, and why gold is winning again.

The crypto market experienced a significant decline in January 2026, driven by macroeconomic uncertainty, overheated valuations in both stock and crypto markets, and a lack of major positive catalysts on the horizon for the industry. Despite this broader market decline, prediction markets and RWA tokenization emerged as bright spots, posting growth even as other sectors struggled.

In 2025, venture capital inflows into the Web3 sector rebounded sharply, approaching levels last seen in 2022. However, the venture landscape has fundamentally changed. As the crypto market matures, investors are applying new criteria and expectations, forcing projects seeking VC funding to adapt. This recap breaks down the key shifts shaping today’s crypto fundraising environment.

The crypto market underwent a structural transformation in 2025. ETFs, stablecoins, and RWAs redefined access to digital assets, while institutions formally entered the ecosystem, reshaping the market structure. This is the start of a repricing cycle as digital assets converge with TradFi and adoption. This recap highlights the key narratives, sectors, and projects that drove the shift.