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        <title>TokenInsight Research</title>
        <description>TokenInsight is a data-driven blockchain institution, we're committed to providing market intelligence: ratings, industry research, and data. Through our comprehensive blockchain industry classification system and proprietary rating research mechanisms, TokenInsight continuously helps investors find value in blockchain and navigate uncertainties in the digital assets market.</description>
        <link>https://tokeninsight.com/en/research</link>
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        <lastBuildDate>Thu, 29 Oct 2026 23:09:39 +0800</lastBuildDate>
        <language>en</language>
        <category domain="https://tokeninsight.com/en/cryptocurrencies">Crypto Research</category>
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            <title>TokenInsight Research</title>
            <link>https://www.tokeninsight.com/en/research </link>
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        <item>
            <title><![CDATA[Crypto Exchange Report Q2 2026]]></title>
            <description><![CDATA[Q2 2026 moved the crypto exchange industry from broad deleveraging into a phase of cautious stabilization. Total trading volume declined a further 8% QoQ to $16.5 trillion, but the underlying mix improved as spot volume rebounded from $3.3 trillion to $4.5 trillion while derivatives activity fell from $14.6 trillion to $12.0 trillion. At the same time, market share continued to consolidate around the largest venues, while TradFi perpetuals emerged as the clearest incremental growth segment. Against this backdrop of improving spot participation, restrained leverage, and accelerating product diversification, this report examines 20 major exchanges across trading volume, open interest, and the expanding equity and commodity perpetuals market.]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/reports/crypto-exchange-report-q2-2026?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/reports/crypto-exchange-report-q2-2026?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Mon, 20 Jul 2026 18:00:49 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[Exchanges]]></category>
            
            <media:keywords><![CDATA[Exchanges]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
                <media:description type="plain">
                <![CDATA[Crypto Exchange Report Q2 2026]]>
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                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
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        <item>
            <title><![CDATA[TokenInsight TradFi Weekly #008: Meta's Earnings Night, Up First and Down After]]></title>
            <description><![CDATA[Meta released its third-quarter results after the US market closed on 21 October. From 4pm to 5pm ET that day, the Meta perp rose 5.1% to 735.0.

By Sunday it had closed at 642.5, about 8% below where it stood before the release, and down 9.9% on the week.

This issue answers three questions. How did the Meta perp trade through the week? How are perps pricing Microsoft, Alphabet, Amazon and Apple, which report next? And how far apart were perps and stocks at Sunday's overnight reopen?]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-008-meta-s-earnings-night-up-first-and-down-after?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-008-meta-s-earnings-night-up-first-and-down-after?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Wed, 28 Oct 2026 18:36:51 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[DeFi]]></category>
            <category domain="tag"><![CDATA[Exchanges]]></category>
            
            <media:keywords><![CDATA[DeFi,Exchanges]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
                <media:description type="plain">
                <![CDATA[TokenInsight TradFi Weekly #008: Meta's Earnings Night, Up First and Down After]]>
                </media:description>
                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
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        <item>
            <title><![CDATA[TokenInsight TradFi Weekly #007: Chips Crashed. Who Kept Buying the Dip?]]></title>
            <description><![CDATA[Chip stocks fell eight days in a row, and SOXL, the 3× semiconductor ETF, lost a third of its value in a week. Normally, that is when traders head for the exit.
Perp data says the opposite. Open interest in SOXL rose 162%, and its funding rate flipped from near zero to mostly positive. TradFi perps traded $201.8B on the week, up 45% and nearly $50B more than any week we have tracked before.
This issue answers three questions: where did the money go, who was adding positions, and what happened at Sunday's overnight reopen?]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-007-chips-crashed.-who-kept-buying-the-dip?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-007-chips-crashed.-who-kept-buying-the-dip?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Thu, 22 Oct 2026 17:40:02 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[DeFi]]></category>
            <category domain="tag"><![CDATA[Exchanges]]></category>
            <category domain="tag"><![CDATA[Data]]></category>
            
            <media:keywords><![CDATA[DeFi,Exchanges,Data]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
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                <![CDATA[TokenInsight TradFi Weekly #007: Chips Crashed. Who Kept Buying the Dip?]]>
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                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
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        <item>
            <title><![CDATA[TokenInsight TradFi Weekly #006: Perps vs Stocks at the Reopen — How Far Apart?]]></title>
            <description><![CDATA[Last issue, we compared how 10 stocks and ETFs moved on perps over the weekend with how the stocks gapped when overnight trading resumed. The direction matched for all 10; the size did not always match.

This time we ask a more direct question: at the exact moment US overnight trading reopened on Sunday evening, how far apart were perp prices and stock prices? And did it matter which exchange you traded on?

The short answer: 10 of 12 perps sat slightly above the stock, with a median gap of just 0.26%. And on any given stock, the exchanges quoted almost the same price.]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-006-perps-vs-stocks-at-the-reopen-how-far-apart?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-006-perps-vs-stocks-at-the-reopen-how-far-apart?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Thu, 15 Oct 2026 18:31:04 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[DeFi]]></category>
            <category domain="tag"><![CDATA[Exchanges]]></category>
            
            <media:keywords><![CDATA[DeFi,Exchanges]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
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                <![CDATA[TokenInsight TradFi Weekly #006: Perps vs Stocks at the Reopen — How Far Apart?]]>
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                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
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        <item>
            <title><![CDATA[TokenInsight TradFi Weekly #005: Did Perps Price the Weekend Gap Before Stocks Reopened?]]></title>
            <description><![CDATA[Last issue, we followed NVDA through a weekend when its stock market was closed. Its perp moved, recovered, and finished close to the stock’s reopening price.

This time, we broaden the comparison to 10 stocks and ETFs. Did their weekend perp moves match the gaps when overnight stock trading resumed?

The direction matched across all 10. The size of the move did not always match.]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-005-did-perps-price-the-weekend-gap-before-stocks-reopened?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-005-did-perps-price-the-weekend-gap-before-stocks-reopened?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Sat, 10 Oct 2026 21:07:39 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[DeFi]]></category>
            
            <media:keywords><![CDATA[DeFi]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
                <media:description type="plain">
                <![CDATA[TokenInsight TradFi Weekly #005: Did Perps Price the Weekend Gap Before Stocks Reopened?]]>
                </media:description>
                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
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        <item>
            <title><![CDATA[TokenInsight TradFi Weekly #004: What’s Your Stock Worth This Weekend?]]></title>
            <description><![CDATA[Your stock market closes for the weekend. Your stock perp keeps trading. How far can the two prices drift and where do they meet when stocks reopen?
This week, we tracked NVDA’s perp through all 48 hours. It fell, recovered, and finished almost unchanged. When overnight stock trading resumed, NVDA opened just $0.03 below the perp’s last weekend price.
If you only checked the opening price, you missed the move.
This is Issue #004 of TradFi Weekly: what traders traded, what moved most, and what happened while stocks were closed.
Follow us on our site(https://tokeninsight.com/en/research) and on @TokenInsight.]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-004-what-s-your-stock-worth-this-weekend?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-004-what-s-your-stock-worth-this-weekend?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Sun, 27 Sep 2026 09:14:47 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[DeFi]]></category>
            
            <media:keywords><![CDATA[DeFi]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
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                <![CDATA[TokenInsight TradFi Weekly #004: What’s Your Stock Worth This Weekend?]]>
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                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
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            <title><![CDATA[Crypto Exchange Liquidity Report - Sep 2026]]></title>
            <description><![CDATA[August–September 2026 has been defined by the sharpest risk rally of the year running headlong into a tightening central bank. Bitcoin gained roughly ~25% in August, its best month of the year, as U.S. spot ETFs absorbed about $3.5 billion in net inflows, while gold rose ~10% and silver ~15% over the same period. September then delivered a dense run of headwinds — the CLARITY Act's failure in the Senate procedural vote, the Fed's first rate hike since 2023, and a BOJ increase to its highest policy rate in 31 years — briefly pushing BTC below $75,000. The recovery was swift: BTC reclaimed $80,000 on September 18 and pushed above $87,000 by September 21, its highest level since late January. With positioning rebuilding this quickly under tightening policy, the question of where executable liquidity actually resides has become central to how institutional flow is routed. This report examines how nine major exchanges performed under these conditions, measuring order book depth, slippage, and bid-ask spreads across BTC, ETH, XAU, and XAG to assess where liquidity is genuinely concentrated.]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/reports/crypto-exchange-liquidity-report-sep-2026?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/reports/crypto-exchange-liquidity-report-sep-2026?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Thu, 24 Sep 2026 16:59:57 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[Exchanges]]></category>
            
            <media:keywords><![CDATA[Exchanges]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
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                <![CDATA[Crypto Exchange Liquidity Report - Sep 2026]]>
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                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
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            <title><![CDATA[TokenInsight TradFi Weekly #003: What Are Your Stocks Worth When the Market Is Closed?]]></title>
            <description><![CDATA[The U.S. stock market was closed for three days last week.

But prices for names like NVDA, TSLA, and AMD didn’t really stop moving. On the other side of the market, perpetual contracts tied to these stocks kept trading around the clock.

By Sunday night, some were trading nearly 8% away from their Friday closes.

Even more interesting: the biggest moves were concentrated in one sector…]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-003-what-are-your-stocks-worth-when-the-market-is-closed?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-003-what-are-your-stocks-worth-when-the-market-is-closed?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Thu, 17 Sep 2026 20:09:50 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[DeFi]]></category>
            
            <media:keywords><![CDATA[DeFi]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
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                <![CDATA[TokenInsight TradFi Weekly #003: What Are Your Stocks Worth When the Market Is Closed?]]>
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                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
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            <title><![CDATA[TokenInsight TradFi Weekly #002: Bitcoin Went Up 9.5%.Not All of It Was Buying.]]></title>
            <description><![CDATA[This week was a good reminder that macro direction and market direction are not always the same thing.

Inflation came in hotter, Fed rhetoric stayed hawkish, and the dollar strengthened. Bitcoin still gained 9.5%.

So instead of asking why price went up, this week’s TradFi Weekly looks at what actually bought it: ETF flows, positioning, macro liquidity, rates and the signals coming out of Jackson Hole.]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-002-bitcoin-went-up-9.5-.not-all-of-it-was-buying?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-002-bitcoin-went-up-9.5-.not-all-of-it-was-buying?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Fri, 28 Aug 2026 21:55:03 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[DeFi]]></category>
            
            <media:keywords><![CDATA[DeFi]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
                <media:description type="plain">
                <![CDATA[TokenInsight TradFi Weekly #002: Bitcoin Went Up 9.5%.Not All of It Was Buying.]]>
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                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
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            <title><![CDATA[Equity Perpetuals Market Report - How Large Has the Equity Perpetual Market Become?]]></title>
            <description><![CDATA[Equity perpetuals have moved from a niche listing to a material category on crypto exchanges. Across Binance, Bybit, Bitget, MEXC, and OKX, they averaged $17.6 billion in daily volume during our sample period, close behind ETH at $18.2 billion and BTC at $24.0 billion. On weekdays alone, the figure rises to roughly $23.5 billion, ahead of ETH on any day the underlying cash market is open. Yet weekend volume falls to 9.9% of weekday levels, against 44.4% for BTC, showing the category remains anchored to traditional trading hours. This report examines how large the equity perpetuals market has become and how the five venues compare on product coverage, position limits, order-book depth, and execution quality.]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/reports/equity-perpetuals-market-report-how-large-has-the-equity-perpetual-market-become?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/reports/equity-perpetuals-market-report-how-large-has-the-equity-perpetual-market-become?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Wed, 26 Aug 2026 16:00:19 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[Exchanges]]></category>
            <category domain="tag"><![CDATA[Stock]]></category>
            
            <media:keywords><![CDATA[Exchanges,Stock]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
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                <![CDATA[Equity Perpetuals Market Report - How Large Has the Equity Perpetual Market Become?]]>
                </media:description>
                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
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            <title><![CDATA[TokenInsight TradFi Weekly #001: Stocks Fell. Gold and Bitcoin Didn't.]]></title>
            <description><![CDATA[US equities fell this week — the S&P 500 down 1.86%, the Nasdaq-100 down 2.77%. Gold rose, Bitcoin broke $70,000, and $1.61 billion flowed into US spot Bitcoin ETFs across four sessions. The dollar fell 0.88%. Credit spreads remain tight at 273bp. This is not risk-off. It is capital rotating out of dollar-denominated financial assets and into non-sovereign ones.]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-001-stocks-fell.-gold-and-bitcoin-didn-t?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/daily-digest/tokeninsight-tradfi-weekly-001-stocks-fell.-gold-and-bitcoin-didn-t?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Sun, 23 Aug 2026 00:16:19 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[DeFi]]></category>
            
            <media:keywords><![CDATA[DeFi]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
                <media:description type="plain">
                <![CDATA[TokenInsight TradFi Weekly #001: Stocks Fell. Gold and Bitcoin Didn't.]]>
                </media:description>
                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
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            <title><![CDATA[Crypto Exchange  Liquidity Report - Jul 2026]]></title>
            <description><![CDATA[June–July 2026 has been defined by a market absorbing its sharpest reset in four years. Bitcoin fell roughly 20% in June to post its worst monthly performance since July 2022, briefly trading below $60,000 as U.S. spot ETFs recorded their heaviest month of net outflows since launch. Precious metals corrected in parallel as the Fed's June projections removed rate cuts from the 2026 path entirely. Conditions steadied in the first half of July as ETF flows turned positive for the first time in eight weeks and a softer June CPI print eased pressure into mid-month, but with the recovery in demand still shallow relative to the selling that preceded it, the question of where executable liquidity actually resides has become central to how institutional flow is routed. This report examines how nine major exchanges performed under these conditions, measuring order book depth, slippage, and bid-ask spreads across BTC, ETH, XAU, and XAG to assess where liquidity is genuinely concentrated.]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/reports/crypto-exchange-liquidity-report-jul-2026?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/reports/crypto-exchange-liquidity-report-jul-2026?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Mon, 03 Aug 2026 18:00:08 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[Exchanges]]></category>
            
            <media:keywords><![CDATA[Exchanges]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
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                <![CDATA[Crypto Exchange  Liquidity Report - Jul 2026]]>
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                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
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            <title><![CDATA[TxFlow: A Perp DEX Built Around Shared Liquidity]]></title>
            <description><![CDATA[TxFlow is a community-owned financial Layer 1 whose first live Channel is a fully onchain central limit order book perp DEX, designed to make liquidity composable across perpetuals, spot, prediction markets, and future financial applications.]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/reports/txflow-a-perp-dex-built-around-shared-liquidity?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/reports/txflow-a-perp-dex-built-around-shared-liquidity?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Wed, 15 Jul 2026 12:07:44 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[DEX]]></category>
            
            <media:keywords><![CDATA[DEX]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
                <media:description type="plain">
                <![CDATA[TxFlow: A Perp DEX Built Around Shared Liquidity]]>
                </media:description>
                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
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        <item>
            <title><![CDATA[The AI Capex Paradox: Record Earnings Mask a Weakening Setup]]></title>
            <description><![CDATA[Strong earnings continue to support the S&P 500, but the market backdrop is becoming less favorable. AI capital spending is lifting near-term profits while raising concerns about future free cash flow, especially among major technology companies. At the same time, Magnificent 7 leadership is weakening, equity supply is rising, and midterm-year seasonality could create room for a sentiment reset. The result is a market that remains fundamentally supported, yet increasingly vulnerable to a short-term correction.]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/reports/the-ai-capex-paradox-record-earnings-mask-a-weakening-setup?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/reports/the-ai-capex-paradox-record-earnings-mask-a-weakening-setup?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Thu, 02 Jul 2026 17:15:15 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[Traditional Industry]]></category>
            
            <media:keywords><![CDATA[Traditional Industry]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
                <media:description type="plain">
                <![CDATA[The AI Capex Paradox: Record Earnings Mask a Weakening Setup]]>
                </media:description>
                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
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        <item>
            <title><![CDATA[Gold’s Pullback Is a Real-Rate Shock, Not a Structural Breakdown]]></title>
            <description><![CDATA[The 25% drawdown from January reflects an unwind in gold's rate-sensitive layer, not a break in the structural bid. Real rates still govern marginal pricing, but fiscal dominance caps how far they can travel. The next leg begins when markets accept that the Fed's real-rate ceiling is binding.]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/reports/gold-s-pullback-is-a-real-rate-shock-not-a-structural-breakdown?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/reports/gold-s-pullback-is-a-real-rate-shock-not-a-structural-breakdown?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Tue, 16 Jun 2026 17:48:57 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[Traditional Industry]]></category>
            
            <media:keywords><![CDATA[Traditional Industry]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
                <media:description type="plain">
                <![CDATA[Gold’s Pullback Is a Real-Rate Shock, Not a Structural Breakdown]]>
                </media:description>
                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
            </media:content>
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        <item>
            <title><![CDATA[CRYPTO EXCHANGE  LIQUIDITY REPORT - May 2026 ]]></title>
            <description><![CDATA[April–May 2026 has been defined by a market caught between recovery and fragility. Bitcoin rebounded through April to post its strongest monthly performance so far this year, and U.S. spot ETF inflows turned decisively positive once again. With the Fed holding rates steady, geopolitical tensions lingering in the background, and derivatives markets increasingly shaping intraday price discovery, the question of where executable liquidity actually resides has become central to how institutional flow is routed. This report examines how eight major centralized exchanges performed under these conditions, measuring order book depth, slippage, and bid-ask spreads across BTC, ETH, XAU, and XAG to assess where liquidity is genuinely concentrated.]]></description>
            <link><![CDATA[https://tokeninsight.com/en/research/reports/crypto-exchange-liquidity-report-may-2026?utm_source=public&utm_medium=rss]]></link>
            <guid><![CDATA[https://tokeninsight.com/en/research/reports/crypto-exchange-liquidity-report-may-2026?utm_source=public&utm_medium=rss]]></guid>
            <pubDate>Thu, 28 May 2026 17:59:22 +0800</pubDate>
            <dc:creator><![CDATA[TI Research]]></dc:creator>
            <author>research@tokeninsight.com</author>
            <category domain="https://tokeninsight.com/en/research/"><![CDATA[Blockchain Research]]></category>
            <category domain="article-type"><![CDATA[Research]]></category>
            <category domain="tag"><![CDATA[Exchanges]]></category>
            
            <media:keywords><![CDATA[Exchanges]]></media:keywords>
            <media:content url="" type="image/jpeg" height="600" width="800">
                <media:description type="plain">
                <![CDATA[CRYPTO EXCHANGE  LIQUIDITY REPORT - May 2026 ]]>
                </media:description>
                <media:credit role="author" scheme="urn:ebu"><![CDATA[TI Research]]></media:credit>
            </media:content>
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