DEXs Aren't Dead, CEXs Are Just Riding the Tailwind
* Centralized Exchange (CEX) Recovery: CEX spot trading volume grew significantly in 2025, with Q4 2024 monthly average exceeding $2.25 trillion, primarily driven by ETF and macroeconomic tailwinds. * Decentralized Exchange (DEX) Growth is Faster: DEX spot volume grew from $133 billion in January 2024 to $540 billion in October 2025, with market share rising from ~10% in 2024 to nearly 20%. * Perpetuals Drive DEX Activity: On-chain perpetuals trading volume surged, exceeding $1.13 trillion in...
DEXs Aren't Dead, CEXs Are Just Riding the Tailwind
* Centralized Exchange (CEX) Recovery: CEX spot trading volume grew significantly in 2025, with Q4 2024 monthly average exceeding $2.25 trillion, primarily driven by ETF and macroeconomic tailwinds. * Decentralized Exchange (DEX) Growth is Faster: DEX spot volume grew from $133 billion in January 2024 to $540 billion in October 2025, with market share rising from ~10% in 2024 to nearly 20%. * Perpetuals Drive DEX Activity: On-chain perpetuals trading volume surged, exceeding $1.13 trillion in...
External Cause: Trump; Internal Cause: Market Makers? What Really Caused the Epic Altcoin Market Crash?
Event Overview: The cryptocurrency market experienced an epic crash in the early hours. Bitcoin briefly fell to $102,000 and Ethereum to $3,392. The total liquidation amount across the network reached $19.141 billion, setting a historical record. Market panic primarily stemmed from Trump's surprise tariff policy. Root Cause: Trump announced on social media the cancellation of his meeting with China and plans to impose an additional 100% tariff on Chinese imports starting November 1st, alongsi...
External Cause: Trump; Internal Cause: Market Makers? What Really Caused the Epic Altcoin Market Crash?
Event Overview: The cryptocurrency market experienced an epic crash in the early hours. Bitcoin briefly fell to $102,000 and Ethereum to $3,392. The total liquidation amount across the network reached $19.141 billion, setting a historical record. Market panic primarily stemmed from Trump's surprise tariff policy. Root Cause: Trump announced on social media the cancellation of his meeting with China and plans to impose an additional 100% tariff on Chinese imports starting November 1st, alongsi...
CoinW’s “Twin-Engine” Spot Strategy: A Cycle-Proof Playbook from Blue-Chip Safety to On-Chain Alpha
1. The New Market Fault-Line Institutions are here. ETFs, DAT treasuries and sovereign funds have turned BTC and ETH into macro assets, but they want depth, compliance and zero slippage. Meanwhile, Solana, Base, Sui and the rest mint 10-k-token weeks—Meme, DePIN, AI agent, whatever. Crypto-native degens need speed first, story second, KYC third. Caught in the middle is the retail newcomer who hears “on-chain is the future” yet can’t even spell private key. CoinW’s answer: run two engines on t...
CoinW’s “Twin-Engine” Spot Strategy: A Cycle-Proof Playbook from Blue-Chip Safety to On-Chain Alpha
1. The New Market Fault-Line Institutions are here. ETFs, DAT treasuries and sovereign funds have turned BTC and ETH into macro assets, but they want depth, compliance and zero slippage. Meanwhile, Solana, Base, Sui and the rest mint 10-k-token weeks—Meme, DePIN, AI agent, whatever. Crypto-native degens need speed first, story second, KYC third. Caught in the middle is the retail newcomer who hears “on-chain is the future” yet can’t even spell private key. CoinW’s answer: run two engines on t...
a16z to Founders: Don’t Fix Low Retention—Pivot
Nine Laws of Retention (15 Years of Data)Bad retention is un-fixable. Push alerts, drip e-mails and button-colour A/B tests will not turn 10 % D1 retention into 40 %.Retention only falls; it never rises. The curve decays in a predictable half-life—D7 ≈ 50 % of D1, D30 ≈ 50 % of D7.Revenue retention can grow even while user retention shrinks. Slack loses seats but gains dollars; Amazon starts with books, ends with everything.Category is destiny. No-one opens a hotel-booking app daily—accept th...
a16z to Founders: Don’t Fix Low Retention—Pivot
Nine Laws of Retention (15 Years of Data)Bad retention is un-fixable. Push alerts, drip e-mails and button-colour A/B tests will not turn 10 % D1 retention into 40 %.Retention only falls; it never rises. The curve decays in a predictable half-life—D7 ≈ 50 % of D1, D30 ≈ 50 % of D7.Revenue retention can grow even while user retention shrinks. Slack loses seats but gains dollars; Amazon starts with books, ends with everything.Category is destiny. No-one opens a hotel-booking app daily—accept th...
When Will DAT-Treasury Firms Sell Their ETH?
Why This Matters Companies that run “DAT” (Dividend Accumulation Treasury) strategies on Ethereum have quietly amassed large ETH stacks. Their exit timing is the market’s next “unknown unknown.” Below are six plausible end-games, grouped into Good, Neutral, and Bad outcomes.Good Endings 1. Take-Money-Off-the-TableScenario: ETH is multiples above their entry price (e.g., cost basis $3 k, spot $6 k).Trigger: tax-loss harvesting or shareholder pressure for realized gains.Market impact: mild—thin...
When Will DAT-Treasury Firms Sell Their ETH?
Why This Matters Companies that run “DAT” (Dividend Accumulation Treasury) strategies on Ethereum have quietly amassed large ETH stacks. Their exit timing is the market’s next “unknown unknown.” Below are six plausible end-games, grouped into Good, Neutral, and Bad outcomes.Good Endings 1. Take-Money-Off-the-TableScenario: ETH is multiples above their entry price (e.g., cost basis $3 k, spot $6 k).Trigger: tax-loss harvesting or shareholder pressure for realized gains.Market impact: mild—thin...
