5 studies
Between 2018 and 2026 the dual model helped issuers and security-token holders, but not governance-token holders. Across 20+ projects in four archetypes, every utility/governance token traded 51–99.9% below its ATH while the security layer grew several-fold.
Strip out government debt and tokenized equities and the $33,4b RWA securities market shrinks to $12,3b and about 300 tokens. Every remaining segment has defaults, failed redemptions or 80%+ price collapses, and only about 5% of the value carries any external rating.
Every exchange token promises the same things: buybacks, burns, staking, VIP tiers. We took six apart — BNB, OKB, BGB, KCS, MNT and HYPE — and measured how much money actually reaches the market for each. For five of the six it is zero. What works, what doesn't, and why copying someone else's tokenomics is pointless.
Altcoin correlation with Bitcoin is an axiom of the crypto market. But correlation doesn't mean inevitability. We calculated Pearson correlation coefficients between the price of 10 tokens and their product metrics (fees, volumes, revenue) over the period from October 2025 to May 2026. The result: for all 10 assets, the link to their own product is stronger than the link to BTC. Below: the data, the charts, and the reasons behind it.
For years, a Binance listing was treated as the happy ending of any crypto story. 2025 broke that assumption. We analyzed 542 launches across the top exchanges, and the pattern was counterintuitive: the more prestigious the venue, the weaker the average post-listing performance over the following 90 days. 8Blocks breaks down why this happens below.