Notes on crypto market structure.
We're working on the first issue — an occasional letter on what we're watching in crypto markets. Patterns from the order books, on-chain flows, and the parts of the structure that don't get enough attention. Free, public, and separate from our signal product. Drop your email to get it when it ships.
We write only when there's something worth saying. Never sold, never shared.
Three things in every issue.
Where we're looking
The corners of the market we've been spending time on — venues, instruments, or flows where the structure is shifting in ways worth noting.
A short read
Five hundred words on something worth paying attention to. Written to clarify, not to predict. No price commentary.
From the field
Two or three links — a working paper, a primary data source, a piece of writing that deserves more attention than it got.