KKDEMIAN
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Crypto market structure, written up as a searchable research library

Exchanges, perp DEXs, stablecoins, L1/L2, RWA, AI × Crypto — tracked over time, taken apart one by one, kept current.

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2026-10-31
The looser the anchor, the wider the range: what prices the five largest bStocks instruments
2026-10-31
Turnover of 38x on less volume than spot: the denominator trap in single-stock 2x tokens
2026-10-31
Onchain card gacha platforms: one protocol takes 80% of the category revenue, four are underwater
2026-10-30
Renaiss: EV equals price, custody is not delivery, and its own index is falling
2026-10-30
Binance has not released the signing logs — a disclosure audit
2026-10-30
Binance names a root cause: what broke was a service identity with signing power, not EIP-7702
2026-10-30
A Binance hot wallet falls: one valid signature, eight minutes, $5.6B
2026-10-30
Anatomy of the EIP-7702 attack: 18 hours of prep, one signature, one bot

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