Jae
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PEARL Miners' Profitability Test: Token Price Plunge, Hashrate Retreat — Some Earn Effortlessly, Others Cut Losses and Leave
After gaining fame for its PoUW narrative, the PEARL public chain's token spiked and then fell back, retreating more than 35% in ten days. Because of the time lag in network difficulty adjustment, miners' per-card revenue shrank and network hashrate fell in turn, leaving late entrants prone to losses. The miner base has split: home miners with sunk hardware costs bear only electricity and remain profitable; large-scale farms weigh mining against AI rental opportunity costs, with some pivoting to AI; cloud-compute short-term renters are the first to leave due to high rental costs, while long-term renters hold on. The chain also has multiple hidden risks: over 90% of hashrate is not doing real AI computation but idling; daily token output creates sell pressure on the secondary market, and early unlocked chips pose latent risk; a single pool controls nearly half of hashrate, a centralization risk. Its future depends on whether real AI inference demand can materialize, and it reminds participants to mind their own cost line.
Jae
A Joke by Hyperliquid's Founder Is Now a Real Wall Street Move
NYSE parent ICE partners with Trade[XYZ] while Kraken parent Payward moves first: two financial giants stake out Hyperliquid in quick succession, opening the positioning battle for the US regulated on-chain perpetuals market. Hyperliquid is turning from an offshore DeFi protocol into regulated financial infrastructure, and the value of the whole industry chain is up for repricing.
Jae
In Conversation with SmartX Founder David: In the AI Trading Era, How Should Ordinary People Set Their Trading Survival Rules?
From a top trader on Binance's live-trading leaderboard to founder of SmartX, David shares six years of hands-on crypto experience, breaking down the opportunities and risks in the AI trading wave while offering ordinary investors survival rules and a swing-trading framework.
Jae
Top Perp DEXs at the Gates: Will the Onchain Options Landscape Shift?
Onchain options are rising, with Bitcoin options now accounting for 58.9% of BTC derivatives open interest. As leading Perp DEXs cross over into the sector, onchain derivatives are moving from a perpetuals-only show toward a new options cycle.
Jae
$2.6 Billion Forgotten On-Chain: Behind 6 Million Wallets, Where Does Crypto Users' Money Get Stuck?
On-chain stranded assets total $2.61 billion, yet 88% can be claimed by users themselves. Cross-chain forgetfulness, staking in old contracts, and token migrations are the hardest-hit areas. A look at the dormant funds in Solana, RNDR, and MKR.
Jae
$800 Million Raised in 3 Weeks, Yet 80% of Funds Sit Idle: How Much Real Demand Is Behind OUSD's "Whale Game"?
The Stripe-led stablecoin OUSD reached a circulating supply of $825 million within three weeks of launch, but on-chain data shows the top 10 addresses control 82%, there are only about 2,200 unique holder addresses, and over 80% of funds have not entered circulation. Comparing four cold-start models including USDG and PYUSD, this piece decodes the quality of OUSD's growth and the profitability challenges of the stablecoin business model.
Jae
After StandX's exit, a look at 9 potential "airdrops" in the Perp DEX sector
StandX's exit has reshuffled the airdrop market in the Perp DEX sector. PANews reviews 9 major protocols including Variational, Extended, and Pacifica, comparing their points mechanisms, funding backgrounds, and potential risks in depth to uncover the next round of airdrop opportunities.
Jae
From a Market That Never Closes to Borderless Finance: What Is OKX Building?
OKX's tokenized stocks and TradFi perpetual contracts have reached $3 billion in average daily trading volume, as traditional finance and crypto markets accelerate their convergence. From tokenized US equities to AI trading assistants, OKX is transforming into a global fintech platform, laying out Pre-IPO, options, and on-chain payments to reshape the next generation of financial infrastructure.
Jae
National Day Holiday DeFi Recap: Hyperliquid Plans Options, Uniswap Pilots Compliant Liquidity Architecture
DeFi infrastructure iteration is accelerating: the Orca and Loopscale merger drove ORCA up 60%, Hyperliquid is positioning for on-chain options, Injective released a new whitepaper positioning itself as institutional-grade RWA infrastructure, and Founders Fund is betting on the Anvil token. The Ethereum and Solana ecosystems are migrating from native crypto loops toward the real financial system, with on-chain credit and compliance frameworks taking center stage.
Jae
Restaking gold rush cools as thin-margin squeeze forces five leading protocols to pivot collectively
Ethereum LRT protocols are pivoting en masse: ether.fi is divesting restaking, while five leaders—Kelp, Renzo, Swell and others—are shifting toward neobanking, AI trading and infrastructure services as the blockchain restaking track races for survival.
Jae
Quant Lands Major US Clearing House Deal — What Comes After the 300% Rally?
Quant Network's QNT token surged 300% in seven days after being adopted by US clearing house TCH to provide underlying interoperability technology for banks' tokenized deposits, bringing blockchain transformation to traditional financial infrastructure.
Jae
Interview with frontier tech investor Zheng Di: SEC's "innovation exemption" opens a compliant bull market — which targets are the potential winners?
The SEC's "innovation exemption" opens a five-year window, and on-chain US equities may ignite a new crypto bull market. An interview with Zheng Di on the policy's essence, beneficiary targets, and investment logic, with attention on Coinbase, Uniswap, and prediction markets.
Jae
Vitalik's Latest Assessment at the Shanghai Summit: Blockchain's Next 15 Years, Entering the Era of "Blockchain + Cryptography"
Vitalik Buterin's Shanghai speech: fifteen years of dramatic change in blockchain, the fusion of zero-knowledge proofs and artificial intelligence accelerating the revolution, and the arrival of the era of programmable cryptography.
Jae
The Triple Logic Behind NEAR's Surge: How Option-Style Airdrops Ignited the Market
NEAR broke above $4.3, surging over 20% in 24 hours, with TVL hitting an all-time high. Option-style airdrop incentives and the launch of privacy perpetual contracts drove the rally, but risks remain from airdrop farmers exiting and narrative rotation.
Jae
SEC Launches 5-Year Sandbox Experiment: Traditional Stocks Accelerate On-Chain Under Innovation Exemption Framework
The U.S. SEC released an "Innovation Exemption" framework allowing tokenized securities exchanges to pilot on-chain trading of U.S. stocks over 5 years.
Jae
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