infrastructure

Scorecard 2026: The 10 Largest Blockchains Across 5 Fundamentals

Ethereum burned 990.6 ETH in 30 days and BNB retired $932 million in a single act on July 15: the scorecard of the 10 largest chains across five axes.

regulation

CLARITY Act: The Senate's Last Window and the SEC's Plan B

The CLARITY Act is running out of plenary days: Polymarket prices it at 23.5% while the SEC already carries its Plan B on the formal regulatory agenda.

defi

Hyperliquid builder codes: who gets paid and how much in 2026

102 interfaces collect commissions on the Hyperliquid order book without operating any: $89,986,616 accumulated and a layer that is already earning 27% less.

analysis

Crypto 2026: the 21 tokens that rose with the market at −40%

Only 21 out of 202 investable cryptocurrencies closed in the green during the first half of 2026. Ten of them collect fees or burn supply with their revenue.

defi

x402 and Agentic Payments: What Collapsed and What Survived

PING fell by 98.5% but x402 has no token: the count plunged by 92% while 95% of the volume shifted to payments of more than one dollar. Three series, one story.

regulation

USDT is not illegal in the EU: the MiCA stablecoin registry

Your USDT is not illegal in Europe: what's prohibited is for an exchange to sell it to you. The MiCA EMT registry lists 21 issuers covering 24.7% of the market.

security

Coldcard Failure: Why Mk3 is Being Emptied and Mk4 Resists

A 2021 compilation error left Coldcard seeds at 40 or 72 bits: the 40-bit seeds are already being emptied, the 72-bit ones resist, and the patch does not repair either.

security

$60 Million in Crypto Hacks: Detection Scales, Patching Doesn't

From July 19 to 27, 2026, 60.45 million in crypto was stolen and almost no flaw was new: Verus fell twice via the same route in two months.

defi

Lighter vs Aster vs edgeX: Life After the TGE

Lighter volume dropped 85% following the end of its airdrop. Aster, Lighter, and edgeX, at three different stages of their token launches: who retains users and who was just renting them.

trading

SK Hynix Flash Crash: 960 accounts liquidated on Hyperliquid

A single SK Hynix share crossed at −29.96% in the pre-market and liquidated 57 million dollars on Hyperliquid. The oracle functioned as intended.

defi

On-chain Perpetuals: app-chain vs Solana vs Ethereum L2s

Hyperliquid, a single app-chain, moves more perpetuals than all of Solana and all Ethereum L2s combined. We aggregate volume by layer, not by brand.

bitcoin

Bitcoin has not broken the power law: crossover on Oct-25-2026

Bitcoin has not broken the power law: trading at $63,999 above a floor of $59,192 that rises $54 per day. If it does not move, the crossover arrives on October 25.