Insights & Analysis

Institutional-grade research reports, covering a broad range of topics in the digital asset industry such as blockchain, economics, and finance

Institutional Custody in Crypto

A detailed study of the institutional custody landscape

BRC-20 Tokens: A Primer

A close look at the BRC-20 market, including their origins, market outlook, effects on Bitcoin's metrics, and much more

Data Insights - Lending

A data-driven analysis of the growing DeFi lending market

Monthly Market Insights - May 2023

A summary of the most important market developments, interesting charts and upcoming events

AI x Crypto: Exploring Use Cases and Possibilities

Exploring the intersection of AI and Crypto

The Financialization of NFTs

An analysis of existing solutions to unlock NFT liquidity

Q1 State of Crypto: Market Pulse

A compilation of key charts and insights on the market

Monthly Market Insights - April 2023

A summary of the most important market developments, interesting charts and upcoming events

A New Era for Bitcoin?

With an analysis of recent developments, we cover all there is to know and look forward to in Bitcoin’s new era

Navigating Crypto: Industry Map

An overview of different verticals in crypto

The State of NFT Marketplaces

An analysis of the competitive landscape of NFT marketplaces

Monthly Market Insights - March 2023

A summary of the most important market developments, interesting charts and upcoming events

Real World Assets: The Bridge Between TradFi and DeFi

A deep dive into the world of real world assets

Ethereum's Shanghai Upgrade: By the Charts

An analysis of the upcoming Ethereum's Shanghai Upgrade

A Guide to Fundamental Analysis in Crypto

Crypto Fundamental Analysis 101

Q4 State of Crypto: Market Pulse

A compilation of key charts and insights on the market

Wallets: A Deep Dive into Crypto Custody

An analysis of wallets and the crypto custody space

Full-Year Review 2022 & Themes for 2023

A crypto-centric review of 2022

Crypto Ecosystem One-Pager

A single page graphical overview of the crypto landscape

Navigating Crypto: Industry Map

An overview of different verticals in crypto

GameFi Tokenomics - Deep Dive

Learn about the key elements of GameFi Tokenomics

Web3 Social - Road to Mass Adoption

An introduction to Web3 Social

Centralized and Decentralized Exchanges - What's the difference?

A comparison between Centralized and Decentralized Exchanges

Interoperability Solutions: Connecting Worlds

An analysis of the interoperability landscape

2022 - The Year Institutions Evolved Into Web3

Discover their Web3 journey as we look back at this year's major milestones

Move - The Next Step in Smart Contract Programming?

What is the Move programming language and its unique features? Do we need a new smart contract programming language?

The Emergence of Real Yield

An evaluation of DeFi yields

Navigating Crypto: Industry Map

An overview of the crypto ecosystem

zkEVM and the Future of Ethereum Scaling

Learn everything you need to know about zero-knowledge Ethereum Virtual Machines

Q3 State of Crypto: Market Pulse

A compilation of key charts and insights on the market

Aptos and Sui - The New Kids on the Block

Introduction to the alternative Layer 1 solutions Aptos and Sui

Layer 2 Scaling - Market Update

Update on Layer 2 scaling and recent market developments

DeFi on BNB Chain

A partnership between Binance Research and Binance Labs

Soul Searching - Soulbound Tokens

An in-depth look at Soulbound Tokens

Tokenomics - Deep Dive

Learn about the Supply and Demand dynamics that drive Tokenomics

Uncovering DeFi Fundamentals: Decentralized Exchanges

Fundamental analysis of decentralized exchanges

The Rise of Decentralized Autonomous Organizations

An in-depth look at Decentralized Autonomous Organizations

Half-Year Report 2022

A crypto-centric review of the first half of 2022

Algorithmic Stablecoins

An overview of algorithmic stablecoins, their risks and opportunities

Ethereum DeFi Ecosystem: A Deep Dive

An overview of Ethereum's DeFi ecosystem

What to say to someone who says that cryptocurrency is “too risky?”

A brief comparison of the risk of Bitcoin and Ether versus some popular technology stocks

Russia & Ukraine: What does it mean for Cryptocurrency?

How will the Russia-Ukraine crisis impact crypto markets?

Global Crypto User Index - 2021

A global survey report on crypto user motivations, behaviors, and preferences.

What is the Outlook for the Crypto Brokerage Industry?

An exploration into the state of the crypto brokerage industry.

Is the Crypto Market Turning into a Kangaroo Market?

An in-depth look at crypto markets in Q2 2020.

What Does Data Say About TRON?

A data-driven dive into the TRON ecosystem.

Will Libra Live Up To Its Initial Ambitions?

An Update on Libra: A Global Payment System and Financial Infrastructure.

Portfolio Optimization With BNB

How can BNB be used to diversify portfolios?

March 2020 - Will Central Bank Policies Impact the Crypto-Market Recovery?

Discussing 'Black Thursday' on Bitcoin derivatives exchanges and the impact of COVID-19 on financial & crypto markets.

How Has the Recent Market Turmoil Impacted Cryptocurrencies?

Overview of the crypto-correlations in Q1 2020.

Sweden’s Public Digital Cash: E-Krona

Are efforts from central banks to create digital cash finally taking shape?

February 2020 - Is An Alt-Season About To Start?

Discussing ETH Denver, flash loans, BUSD's growing supply, and the rise in altcoin volume.

Case Study: Constructing Synthetic Trading Pairs

How can long and short positions be used to trade pairs that do not exist?

Decentralisation, governance and EOS - a lost case?

Assessing the governance of EOS against the benefits of decentralisation, such as collusion resistance.

An examination of the flaws in the Zerocoin protocol

What were the implications of the 2019's Zerocoin cryptographic flaws?

January 2020 - Did The January Effect Happen?

Discussing the January effect in crypto-markets, development in the altcoin space, and Bitcoin's Open Interest dominance.

2019 - Annual Crypto-Correlations Review

What do correlations among cryptoassets tell us about 2019?

DeFi #3 - 2020: The Borderless State of DeFi

Will innovation and growth within DeFi continue to expand beyond the scope of the crypto-industry?

December 2019 - Where Was Santa?

Exploring the absence of a Santa Claus Rally, new BUSD pairs, Binance Collectibles, and bulls vs. bears.

Bitcoin Mining Allocation

Why are some miners economically irrational when allocating computing resources between BTC, BCH, and BSV?

November 2019 - What Are The Causes of Market Shifts?

Discussing market shifts, Binance Futures' sustained expansion, and margin trading's impact on orderbook structure.

Theory and praxis of DAOs

How can DAOs be conceptualized and classified?

Institutional Market Insights - 2nd edition

Exploring the latest insights from institutional and large VIP clients in the digital asset industry.

October 2019 - DevCon and The Meteoric Growth of Binance Futures.

Discussing DevCon, DeFi, staking, and the meteoric growth of Binance Futures.

The Rise of Staking: From Theory to Building Large Infrastructure

Is staking's maturing ecosystem compelling enough for widespread adoption?

2019 Q3 Crypto-Correlations Review

Have cryptoassets remained correlated throughout the third quarter of 2019?

September 2019 - What Is The Expected Impact of New Derivatives Products?

Discussing derivatives, price oracles, and altcoin products.

Exploring Telegram Open Network

Can Telegram Open Network be released before October 31st and become the first 5th generation blockchain?

DeFi #2 - Arbitrage and Carry Trade Strategies

Exploring carry trade and arbitrage strategies with Ethereum-based DeFi.

Case Study: Santander’s Latest Bond Issuance on Ethereum

What are the main benefits of issuing bonds on blockchains?

August 2019 - Where Will Bitcoin's Dominance Go Next?

Discussing Bitcoin dominance, Libra turmoil and the growth of crypto-derivatives.

First Look: China's Central Bank Digital Currency

Overview of the expected characteristics from China’s CBDC.

The World of Tokenization

What are the key factors to evaluate and develop on-chain token economies?

July 2019 - What are the latest developments of Staking, Security Tokens, and DeFi?

Discussing DeFi, security tokens and staking.

Exploring The Diversification Benefits With Bitcoin

How does Bitcoin fit into multi-asset portfolios?

Case Study: Merged Mining in Dogecoin & Litecoin

Does merged mining provide increased security for smaller PoW blockchains?

2019 Q2 Crypto-Correlations Review

Are cryptoassets still highly correlated over the second quarter of 2019?

Institutional Market Insights - Q2 2019

Exploring the results of the latest institutional and VIP client survey

First Look: Libra

An in-depth review of Facebook's long-anticipated entry into cryptocurrency.

DeFi #1 - Decentralized Cryptoasset Lending & Borrowing

Studying the landscape of the (Ethereum) decentralized cryptoasset lending industry.

The Evolution of Stablecoins

How are fiat-backed stablecoins adapting their strategies to remain competitive?

Categorizing Cryptoassets: A Return-Driven Cluster Analysis

What does cluster analysis reveal about Bitcoin, XRP, and other large digital assets?

Litecoin’s 2019 Halving Scenarios

What are the implications for Litecoin’s (and Bitcoin’s) future decrease in block rewards?

Investigating Cryptoasset Cycles

A look at changes in cryptoasset correlations based on market structure

A Look At Irregularities Discovered on Augur

Are design flaws plaguing Augur’s prediction markets?

Examining the Implications of Monero's Latest Fork

Discussing the Effects of Forking Out ASIC Miners.

Are Cryptoassets Highly Correlated?

An exploration of relationships between Bitcoin and other large cap digital assets.

Can JPM Coin Disrupt the Existing Stablecoin Market?

Discussing JP Morgan's prototype for blockchain-based payment settlements.