Market capitalization: useful arithmetic with important limits
Calculate circulating and diluted valuations while separating marginal price, supply estimates, liquidity, and token rights.
Editor’s reading
Further reading
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Crypto research sources: build a claim-to-evidence trail
Use documentation, code, governance records, and independent observations without confusing first-party claims with proof.
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Protocol upgrades: distinguish proposal, release, activation, and migration
Follow network and contract changes through their actual lifecycle instead of treating an announcement as completed behavior.
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Staking: separate validator rewards from the service wrapper
Compare direct operation, pooled participation, liquid claims, penalties, fees, and withdrawal dependencies.
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MEV: understand how transaction ordering changes outcomes
Learn the differences between arbitrage, liquidation, and sandwich behavior, plus the limits of private transaction routes.
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NFT metadata: separate token ownership from the file it references
Inspect contract identity, token URIs, content addressing, storage persistence, and the limits of ownership claims.
Editor’s reading
Further reading
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All articles
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Token supply: read minting, burning, vesting, and circulation separately
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Token decimals: translate raw balances without changing value
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Stablecoin mechanics: identify the route back to the target value
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Stablecoin reserves: read the assets, liabilities, and access terms
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DeFi collateral: calculate the buffer before borrowing
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AMM liquidity: what a pool position actually owns
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DEX slippage: distinguish the quote, price impact, and tolerance
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Oracle design: examine where a protocol gets its facts
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Blockchain bridges: trace the claim on both sides
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Rollups: separate execution speed from settlement guarantees
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Data availability: why a valid commitment is not enough
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Protocol governance: follow a proposal through to execution