DEX Volume & Market Share - Monthly DEX volume has surpassed $500 billion [1] - DEXs' share of trading volume compared to CEXs has been increasing since 2023 [1] - The DEX to CEX trading volume ratio was approximately 25% and has been steadily growing [1] Perpetual DEX (PerpDEX) Growth - In 2022, PerpDEXs accounted for only 5% of the market [1] - PerpDEXs now control over 30% of the market [1] - Hyperliquid's strong performance has significantly contributed to the growth of the derivatives market [1] CEX Response & On-Chain Competition - Major centralized exchanges are launching their own on-chain perpetual platforms [2] - Examples include Binance (@Aster DEX), Coinbase (@avantisfi), and Kraken (@rails xyz) [2] - New on-chain native platforms like @reya xyz and @Lighter xyz are rapidly scaling and attracting trading demand [2] - On-chain trading is becoming the primary battleground for the entire market [2]

Problem Statement - On-chain trading activities are publicly traceable, allowing anyone to copy or analyze them [1] Proposed Solution - Ocash aims to address the privacy concerns associated with on-chain trading [1] - Active on-chain traders constantly move funds through bridging, swapping, farming, and rotating positions [1]

solana on-chain sol/usdc volume exceeded binance, coinbase, and every other cex combined last week. $5.5b usdc minted in november alone creating permanent bid liquidity. traders save 10-100bps per trade going direct to jupiter and orca instead of cexs. when $2b etf aum requires continuous on-chain execution for creation/redemption, the marginal price setter moves permanently. binance lost control of sol price discovery and can't get it back. ...

Core Insights - Coinbase has announced the acquisition of Vector, a Solana-based social trading platform focused on meme coins and rapid asset launches, to enhance its on-chain trading capabilities [1][2] - The acquisition aligns with Coinbase's strategy to expand its presence in the growing Solana ecosystem, which has seen decentralized exchange volume exceed one trillion dollars in 2025 [3][6] Group 1: Acquisition Details - Coinbase will integrate Vector's team and technology into its consumer trading division, discontinuing Vector's mobile and desktop apps during the transition [2] - The terms of the acquisition have not been disclosed, with the transition expected to close by the end of the year [2] Group 2: Market Context - The meme-coin and social trading market is gaining traction as users seek quick access to tokens and peer-driven strategies [3] - By acquiring Vector, Coinbase aims to improve asset availability, trading speed, and liquidity, particularly in token launch environments [3][5] Group 3: User Benefits - Users may benefit from faster access to newly minted Solana tokens and improved trading execution within Coinbase's interface following the integration of Vector's infrastructure [4] - The acquisition could streamline the trading experience by reducing the need for multiple apps and separate wallets for new coin launches and social trading [5] Group 4: Strategic Implications for Coinbase - This acquisition marks Coinbase's ninth in 2025, highlighting its ambition to become an "everything exchange" that encompasses centralized, derivatives, and on-chain trading [6] - The integration of Solana expertise positions Coinbase to offer deeper support for emerging assets and trading models [6] Group 5: Future Considerations - The industry will monitor the speed at which Vector features become available to Coinbase users and how the new CAPA addresses compliance and risk amid meme-coin volatility [7] - The accelerated listing of Solana assets may prompt other exchanges to enhance their on-chain and mobile trading offerings [7]

RT Bluefin (@bluefinapp)Bluefin is thrilled to announce a strategic partnership and lending agreement with @officialSUIG (NASDAQ: SUIG), focused on accelerating institutional adoption of on-chain trading and structured products.“This partnership extends beyond capital - we are building the bridge from Wall Street to Sui,” said @MariusBarnett, Chairman of SUI Group. ...

Solana Network Capabilities - Solana旨在提供世界上每种资产的各种版本，不仅仅是ZEC，而是其所有形式 [1] - Solana网络融合了市场、交易所和结算层，形成一个统一的系统 [1] - Solana的架构允许任何人即时创建和交易这些资产的不同表达形式 [1] - Solana将金融系统从孤立的花园升级为单一的可编程界面，各种衍生品、合成资产或封装形式的资产可以共存，并实时定价和结算 [2] Asset Availability and Network Value - Solana计划在网络上提供各种资产，包括ZEC和铀 [3] - SOL的价值来自网络使用量的增加，而非依赖于网络炒作 [3] Asset Types on Solana - 现货资产 [4] - 期权 [4] - 永续合约 [4] - 指数篮子 [4] - 建立在顶部的结构性产品 [4]

Industry Trend - The report indicates the emergence of a new generation of on-chain trading platforms [1] - Bybit Alpha is presented as a platform for this next generation of on-chain trading [1]

Excited for this, built by the legend @hunterorrell.TLDR: Social on-chain trading with real-time intelligence, for both desktop and mobile, just joined the waitlist and happy to partner with themLUTE (@lute):it pays to be early https://t.co/ICE9D131Iv ...

DePIN & Cloud Computing - Cloud outages highlight the distinction between compute and the internet, emphasizing the need for decentralized solutions [1] - Beamable Network is constructing a Compute Capital Market on Solana [1] - Beamable Network operates as a Decentralized Physical Infrastructure Network (DePIN) [1] Tokenization & On-Chain Trading - Capacity within the Beamable Network is tokenized, enabling its trading on-chain [1] - Tokenized capacity is streamed to applications in real time [1]

Project Overview - Vanish 旨在解决链上交易中信息暴露的问题，类似于在牌面朝上的情况下玩扑克 [1] - Vanish 致力于保护用户的下一步行动不被泄露 [1] Core Functionality - Vanish 专注于提供链上交易的隐私保护 [1]