In episode 2 of The Signal, Michael and Oskari discuss the current state of the liquid staking market on Solana. Resouces: 1. The Liquid Staking Set-Up on Solana (And an analysis of Marinade Finance): https://thedefireport.io/research/the-liquid-staking-set-up-on-solana 2. Solana Liquid Staking (Revisiting the thesis): https://thedefireport.io/research/solana-liquid-staking-revisiting Timestamps and topics covered: 00:00 Market update: Bitcoin halving and ETF flows 06:48 Solana's liquid staking landscape & comparing Ethereum and Solana staking dynamics 11:34 Marinade Finance: A case study ..read more

In episode 1 of The Signal, Michael and Oskari share Ethereum's Q1 Earnings Results. We recommend downloading a copy of the Q1 issue of The Ethereum Investment Framework to go along with this episode. If you're interested, you can do so here: Topics covered: - Financial performance for the quarter (onchain profit) - Operating performance (user growth and other KPIs) - Growth of L2s (vs Ethereum L1) - Ethereum "GDP" - Market metrics - DeFi metrics (TVL, ETH staked, trading volumes) - Token Economics (ETH burned vs issued) - EIP 4844 - Market Outlook We hope you enjoy the episode! -- Subscr ..read more

In this week's episode of The Rundown, Michael and Shiv were joined by Chan Samadder, CFA and Head of Product at ETC-Group. Topics covered: - Chan's background in TradFi and his journey into crypto and digital assets - ETC-Group and the regulated crypto financial products they are bringing to market in Europe - Why Ethereum? How Chan thinks about ETH as an asset and how he speaks with investors about the Ethereum Network - How to monitor Ethereum's adoption rates - Ethereum's Token Economics - Onchain Financials - Why Now? - How ETH fits into a diversified portfolio of assets - Correlations to ..read more

In episode 18 of The Rundown, Michael and Shiv dive into the following topics as Bitcoin shot through all-time highs: - Bitcoin ETF Inflow Update - Pattern matching ---- what can we learn about new TradFi entrants so far this cycle? - Why did Bloomberg downgrade the chances of an ETH ETF to 35% in May? - Michael Saylor and Microstrategy buying more BTC (with really cheap capital) - Is FUD season already here? - Going onchain with Artemis Terminal covering Sybil activity onchain We hope you enjoy the episode! ---- Subscribe to The DeFi Report Newsletter: https://thedefireport.io/#newsletter Dow ..read more

In this week's episode of The Rundown, Michael and Shiv share their approach toward building a Solana portfolio with an "aircraft carrier" approach. Additional topics covered: - The Bitcoin ETF inflows update - Onchain Data "cycle awareness" update using onchain data signal from Glassnode We hope you enjoy the episode! ---- Subscribe to The DeFi Report Newsletter: https://thedefireport.io/#newsletter Download a free copy of The Ethereum Investment Framework: https://thedefireport.gumroad.com/l/ethereuminvestmentframework Subscribe on YouTube: https://bit.ly/3SeyyA8 Subscribe on Spotify: https ..read more

Tom Dunleavy, CIO of MC Capital joined Michael and Shiv on episode 16 of The Rundown. Tom provides a unique, boots-on-the-ground perspective of the crypto capital markets and shares plenty of alpha on what to expect in the next crypto cycle. Topics covered: - Tom's background & MV Capital's investment strategy - How VCs impact crypto cycles - Types of projects being funded early in this cycle - Crypto funding mechanisms (airdrops, ICOs, valuations, etc) - Thesis for BTC, ETH, SOL this cycle - How the election cycle in the US could impact crypto in the coming years - New privacy solutions ..read more

Are Stablecoins the new Euro Dollar? In episode 15 of The Rundown, Michael and Shiv go deep on Stablecoin data and how Tether is being used on Tron. Additional topics covered: - Bitcoin ETF inflow data - Similarities between the growth of stablecoins and the growth of the Euro Dollar market - Stablecoin usage on Ethereum (top stablecoins, users, transactions, etc) - Tether usage on Tron vs Ethereum - Types of Tether users and user cohorts - User preferences in different regions of the world - TRON Onchain Data: active users, transactions, TVL, revenues, etc - Developer activity on Tron We h ..read more

In this week's special edition of The Rundown, Michael and Shiv share their unique journeys into web3 including the unique challenges, lessons learned, the importance of curiosity, and why they are so excited for the future. In the season of giving, we hope you can learn from their experience and apply some takeaways to your own life.  Topics covered: - Michaels's journey from accounting/finance, commercial real estate, and MIT's Investment Management Company to crypto - Shiv's journey from one of Australia's largest banks into crypto and how he found himself writing Protocols of Money in ..read more

If you don't know your numbers you don't know you're crypto! In this weeks episode of The Rundown, Michael, and Shiv discuss Uniswap — the largest decentralized exchange in crypto. Topics discussed: - Uniswap's business model & breakthrough innovation - Use cases for Uniswap in finance - Uniswap financials & KPIs - How Uniswap is integrating in the tech stack - The UNI token - How Uniswaps economics change on various blockchains - Will Uniswap launch its own L2? Subscribe on YouTube:https://www.youtube.com/channel/UCGQqZBVIFO8agRSJ1gQCMKw?sub_confirmation=1 Subscribe on Spotify: https ..read more

In this week's episode of The Rundown, Michael and Shiv unpack the question on everyone's minds: are we in a new bull market?? The duo also shared their perspectives on the following important topics: - Global macro & liquidity conditions (and how they impact crypto) - Regulation - Binance - Bitcoin - Solana institutional interest (and the massive premium on Greyscale) Finally, the on-chain data with Token Terminal segment this week covered liquidity conditions, the reflexive nature of crypto, and the impact that the merge had on Ethereum's business model and token economics. We hope you e ..read more