PA Report

PA Report

In-depth analysis of current trends and providing all-round insights. This special topic will collect in-depth reports on each track for readers to read.

164 articles
Farewell to Crash-Style Plunges: In-Depth Review of Crypto Lending and Futures Markets in Q2 2026
In the second quarter of 2026, the crypto lending market experienced moderate deleveraging, with CeFi and DeFi scales declining simultaneously, and futures open interest fell 3.08% compared with the previous quarter. A stepwise decline replaced the crash, and market resilience strengthened.
Galaxy
Coinmetrics Report: Trillions in Stablecoin Transfers, Over 90% of Transaction Volume Not 'Real Payments'
Stablecoin transfer volume hits record highs, but over 90% comes from flash loans and market makers? USDC annual turnover rate reaches 741 times, ten times that of USDT.
深潮TechFlow
Solana Q2报告：DEX交易量蝉联第一、手续费却腰斩、RWA破30亿，转型期的“阵痛”与“新生”
DEX交易量稳居公链第一，网络手续费却环比降44%，永续合约量翻倍但承压。RWA突破30亿美元，代币化股票成主力，生态正从Meme投机转向多元化资产金融基础设施。
金色财经
"Mortality Rate" of Token Investments: 95% of Projects Underperform Bitcoin, 73% Ultimately Drawdown Over 90%
Only 4.1% of tokens outperform Bitcoin, median return plunges 97%, 73% ultimately drawdown 90%. Altcoin bull market hard to repeat, why exchange tokens become the only winners?
金色财经
Uweb In-depth Research Report: Global AIDC Transformation Cycle and Valuation Restructuring Logic of Listed Companies
Global listed companies' AIDC transformation enters a super construction cycle. Who will win between Bitcoin mining companies and cross-industry players? Electricity and long-term contracts become key, in-depth analysis of the differentiation pattern in three regions.
UWEB
Tiger Research Report: After Issuing a Stablecoin, How Exactly Do You Make Money?
The real opportunity for stablecoins lies not in issuance revenue, but in the entire value chain of deposits, transfers, payments, and yield generation. Mainstream players are grafting stablecoin efficiency onto traditional financial infrastructure, with yield generation as the final frontier.
Tiger Research
H1 2026 Crypto VC Report: $13.3 Billion Invested in Only 435 Projects, Where Did the Money Go?
The crypto investment market is undergoing a major reshuffle. In H1 2026, $13.3 billion was raised but the number of deals plummeted 78%, with capital concentrating on a few mature projects. Traditional financial institutions dominated 54.5% of transactions, seed rounds collapsed, sectors like GameFi shrank sharply, and only projects with compliance licenses and auditable revenue could secure funding.
Tiger Research
21Shares年中审计：BTC四年周期并未打破，稳定币供应创新高，预测市场交易量猛增
从叙事到基本面，一份关于2026年加密行业生存现状的深度报告。
21shares
Global Crypto Industry Recruitment Market Analysis Report for the First Half of 2026
Crypto recruitment shrinks but compliance roles grow against the trend, with CEX and stablecoin sectors becoming the main hiring forces as the industry shifts from speculation to institutionalization.
Tiger Research
Nvidia's Q1 results were solid, with Vera CPUs driving future growth.
Nvidia's Q1 revenue of $81.6 billion exceeded expectations, with net profit up 139% year-on-year. Data center revenue surged 92% to $75.2 billion. Q2 guidance met expectations, but share buybacks were slightly lower. The stock fell 1.3% in after-hours trading, but the medium- to long-term growth logic remains clear.
SoSo Value
24-year-old "Wall Street rising star's" portfolio adjustments revealed: He heavily shorted chips in Q1, while being bullish on energy and AI infrastructure.
A 13F report from Leopold Aschenbrenner's situational awareness fund, a 24-year-old Wall Street rising star, has been released, revealing that the fund has made a massive purchase of $8.46 billion in chip put options, shorted Nvidia, Broadcom, and other companies, and also heavily invested in AI infrastructure and Bitcoin mining companies, bringing its total size to $13.7 billion.
PA荐读
Bernstein's 97-page research report breaks down: In the battle for AI data center connectivity, who will be the real winner in 2026?
Bernstein's 97-page in-depth report: AI data center connectivity replaces computing power as a new bottleneck; copper-optical interconnects will coexist for a long time; CPO direction is clear but large-scale deployment will not occur until after 2028; more certain performance in 2026 will be in PCB, ABF, LPO/NPO and other segments.
qinbafrank
Morgan Stanley 2026 Semiconductor Report: Buy Packaging, Buy Testing, Buy Chinese Chips, Avoid Traditional Sectors
Building the future AI infrastructure – CPUs, GPUs, ASICs, optical modules, and Chinese-made chips.
见微知著杂谈
The Real China During Report Season
After reading 300 annual reports, one can see the "K-shaped differentiation" and logical restructuring taking place in China's industries.
PA荐读
泡沫之后，何去何从：Go2Mars 2026数字资产市场分析报告
从百年科技史看加密行业的生死轮回。
Go2Mars的Web3研究
ArkStream Q1 Report: Digital Gold Dream Shattered, Crypto Market Enters "Extreme Cold" Cleansing Period
All the money has gone into AI stocks, what about altcoins in the cryptocurrency market?
ArkStream Capital
Morgan Stanley report: The AI ​​revolution is 10 times faster, so why hasn't the wave of unemployment arrived yet?
Morgan Stanley's chief economist points out that AI is spreading at the fastest pace in history, yet global labor market indicators remain unusually stable, suggesting that AI is more of an "incrementer" than a "replacement." However, infrastructure bottlenecks, rapidly shrinking policy response capabilities, and a shrinking window for adjustment could lead this technological revolution to different outcomes. This article will analyze whether AI will eliminate or reshape jobs from three dimensions: historical lessons, empirical data, and potential risks.
BiyaNews
McKinsey's latest report: Stablecoins are poised to enter the $4 trillion era, with six major markets potentially becoming new hotspots for fintech.
Fintech has entered its "fifth era," where profitability and compliance are paramount, and AI is "killing" mediocre financial companies.
Yuliya
Interpreting the FBI's "2025 Internet Crime Report": AI Scams Become the Biggest Variable, and People Over 60 Become the Primary Target of Crypto Scams
Global cybercrime losses have surpassed a record high of $20.8 billion, with investment fraud and cryptocurrency-related crimes being the most rampant.
慢雾科技
CoinGecko CEX Spot Market Report: New Coins Peak Upon Listing, Almost All Fail Within 12 Months
Funds are flowing from Coinbase to retail-driven platforms such as Bitget and MEXC.
深潮TechFlow