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Messari Research This Week: - Next Generation CLOBs by @defi_monk - InfoFi: Emerging Speculation Markets by @Solofunk30, @FBitach, @AJalooli - State of Ethereum Q1 2025 by @AvgJoesCrypto, @DrxlEth - State of Marinade Q1 2025 by @0xBoomz - State of Ronin Q1 2025 by @0xGunkan - State of XRP Ledger Q1 2025 by @KreiserMatt - State of Cardano Q1 2025 by @CryptoSam01 - State of Pyth Q1 2025 by Mohamed Allam - Agoric: The cross-chain orchestration engine by @troyharris__ - State of Manta Q1 2025 - State of GoPlus Q1 2025 by @whynonah - Understanding Akash: A Comprehensive Overview - State of IOnet Q1 2025 - State of Fuel Q1 2025 by @ItsFloe - Reserve: Index DTFs and their Governance via Vote Locking Read now:
Messari Research This Week:

- Next Generation CLOBs by @defi_monk
- InfoFi: Emerging Speculation Markets by @Solofunk30, @FBitach, @AJalooli
- State of Ethereum Q1 2025 by @AvgJoesCrypto, @DrxlEth
- State of Marinade Q1 2025 by @0xBoomz
- State of Ronin Q1 2025 by @0xGunkan
- State of XRP Ledger Q1 2025 by @KreiserMatt
- State of Cardano Q1 2025 by @CryptoSam01
- State of Pyth Q1 2025 by Mohamed Allam
- Agoric: The cross-chain orchestration engine by @troyharris__
- State of Manta Q1 2025
- State of GoPlus Q1 2025 by @whynonah
- Understanding Akash: A Comprehensive Overview
- State of IOnet Q1 2025
- State of Fuel Q1 2025 by @ItsFloe
- Reserve: Index DTFs and their Governance via Vote Locking

Read now:
In Q1, @fuel_network and Simply Staking launched a decentralized sequencer to eliminate central control in transaction ordering. - Built with Cosmos SDK, supports native & Ethereum transactions - 6s block times - Low barriers for validators (4 CPU cores, 8GB RAM) The design aims to improve censorship resistance, distribute MEV via auctions, and support shared sequencing across multiple rollups. See what else happened in Q1:
In Q1, @fuel_network and Simply Staking launched a decentralized sequencer to eliminate central control in transaction ordering.

- Built with Cosmos SDK, supports native & Ethereum transactions
- 6s block times
- Low barriers for validators (4 CPU cores, 8GB RAM)

The design aims to improve censorship resistance, distribute MEV via auctions, and support shared sequencing across multiple rollups.

See what else happened in Q1:
Hyperliquid short seller liquidated for $23M after HYPE soars to ATH
Hyperliquid short seller liquidated for $23M after HYPE soars to ATH
Crypto market to $3.67T
Crypto market to $3.67T
State of @mantanetwork Q1 Key Update: Manta Network introduces dual-layer fast finality, combining MANTA restaking and Bitcoin-based validation to enhance security and speed on its L2. QoQ Metrics 📊 • Protocol revenue ⬆️ 19.1% • CeDeFi TVL maintained at $117.7M Read the full report 🔗
State of @mantanetwork Q1

Key Update: Manta Network introduces dual-layer fast finality, combining MANTA restaking and Bitcoin-based validation to enhance security and speed on its L2.

QoQ Metrics 📊
• Protocol revenue ⬆️ 19.1%
• CeDeFi TVL maintained at $117.7M

Read the full report 🔗
State of @GoplusSecurity Q1 Key Update: GoPlus launched their GPS token and reveals a new AI-focused security roadmap. QoQ Metrics 📊 • Ecosystem profit ⬆️ 373.7% • Solana API request volume ⬆️ 31.1% • Base API request volume ⬆️ 28.7% Read the full report 🔗
State of @GoplusSecurity Q1

Key Update: GoPlus launched their GPS token and reveals a new AI-focused security roadmap.

QoQ Metrics 📊
• Ecosystem profit ⬆️ 373.7%
• Solana API request volume ⬆️ 31.1%
• Base API request volume ⬆️ 28.7%

Read the full report 🔗
Cross-chain development is broken. @agoric is fixing it. Their Orchestration SDK lets developers automate swaps, staking, and transfers across blockchains in a single contract. Fast USDC shows it in action—moving stablecoins from EVM to Cosmos in under one minute. Full report:
Cross-chain development is broken. @agoric is fixing it.

Their Orchestration SDK lets developers automate swaps, staking, and transfers across blockchains in a single contract.

Fast USDC shows it in action—moving stablecoins from EVM to Cosmos in under one minute.

Full report:
Coinbase leads investment disclosures for 2025
Coinbase leads investment disclosures for 2025
State of @PythNetwork Q1 Key Update: Pyth Network launches Pyth Lazer, offering ultra-fast price updates to revolutionize high-frequency trading in DeFi. QoQ Metrics 📊 • TTV ⬆️ 376.6% YoY to $149.1B • Entropy requests ⬆️ 479.4% QoQ, 1M+ processed • PYTH staked ⬆️ 176.4% to 638.7M Read the full report 🔗
State of @PythNetwork Q1

Key Update: Pyth Network launches Pyth Lazer, offering ultra-fast price updates to revolutionize high-frequency trading in DeFi.

QoQ Metrics 📊
• TTV ⬆️ 376.6% YoY to $149.1B
• Entropy requests ⬆️ 479.4% QoQ, 1M+ processed
• PYTH staked ⬆️ 176.4% to 638.7M

Read the full report 🔗
Happy BTC ATH day to all that celebrate
Happy BTC ATH day to all that celebrate
State of XRP Ledger Q1 Key Update: Ripple acquires global prime broker Hidden Road, positioning XRP Ledger for institutional adoption and expanded DeFi capabilities. QoQ Metrics 📊 • Daily active addresses ⬆️ 142% • Average daily CLOB volume ⬆️ 74% • RLUSD market cap on XRPL ⬆️ 304% Read the full report 🔗
State of XRP Ledger Q1

Key Update: Ripple acquires global prime broker Hidden Road, positioning XRP Ledger for institutional adoption and expanded DeFi capabilities.

QoQ Metrics 📊
• Daily active addresses ⬆️ 142%
• Average daily CLOB volume ⬆️ 74%
• RLUSD market cap on XRPL ⬆️ 304%

Read the full report 🔗
Internet Capital Markets: Launch Coin leads 24H Mindshare.
Internet Capital Markets: Launch Coin leads 24H Mindshare.
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