Delphi Digital

Delphi Digital

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Delphi is a research-driven firm dedicated to making crypto happen sooner and better than it would without us.

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Marcus explains what Bitcoin needs for a rebound. "It is my opinion that on Bitcoin, we need to see commodities put in a sideways chop before we can actually make a meaningful break of the range. Without commodities pulling back significantly or consolidating, Bitcoin is just going to go through its chop as well."

Logan explains why physics makes a single global exchange impractical. "If these things scale to trillions of dollars a day, I have a hard time seeing the United States or China saying 'Yes, I'm okay with that data center being in Tokyo because I'm disadvantaged purely from a physics standpoint."

Zcash's shielded pool went from 11% to 30% of total supply in a single year. This is more growth than the previous eight years combined. Users are actively moving coins into the shielded pool and keeping them there. Shielded ZEC tends to be stickier, acting as a supply sink that removes coins from circulation. Three things changed in the last two years: the cryptography no longer requires any trust assumptions, mobile wallets actually work, and Near Intents gave users a non-custodial way to rotate into ZEC from any chain. In the last 30 days alone, ZEC has done $285M in volume on Near Intents versus $348M for BTC. That adoption is built on real cryptographic guarantees. The privacy is information-theoretically hidden. Sender, receiver, and amount are all encrypted in a way that makes transactions mathematically indistinguishable from one another. Every shielded transaction cryptographically proves no coins were counterfeited without revealing any transaction details. There's no information for a quantum computer to extract. The next phase is scaling. Orchard eliminated the trusted setup entirely and became the default shielded pool. Tachyon comes next, reworking how transactions are validated and batched to push throughput toward the levels needed for real economic activity. Now the privacy needs to work at scale. twitter.com/Delphi_Digital/sta...

blood in the streets but my man @simononchain with *the* zcash $zec report - the vision/core principles - the history - privacy<>integrity tradeoff - market traction/shielded pool network effects - encryption vs obfuscation - scaling (tachyon) - post-quantum - much much more

97% of altcoins on our sector dashboard are in the red since Jan 2025. The average drawdown is 78%. Only 3 out of 121 altcoins are green: HYPE, SYRUP, and BCH. twitter.com/Delphi_Digital/sta...

Logan explains the grand prize for blockchains. "The goal for blockchains is to become the leading indicator for price discovery. What will happen is the blockchain will be the true price and exchanges on the centralized venue will be the lagging price. I think that's what everybody's trying to build. That's the grand prize."

LTR explains why memecoins are struggling. "The game reminds me of sneakers and whatnot. It's largely solved. So will there still be opportunities for profit? Yes, but they're just gonna be faster and fewer in between with much more velocity."

Logan breaks down why no one is paying for decentralization. "If people valued Ethereum's 10,000 nodes over Solana's 1,000, they would pay 10x the cost. I don't think we've seen that. People care about decentralization only if it makes a better product."

Logan notes that the fastest companies to hit $100M in revenue are crypto companies, not AI. "So we plotted this and showed it to Raj and Anatoly. It was a chart showing the time from an application to get from 0 to 100 million in revenue... The fastest 0 to $100 million revenue companies in the world are crypto companies.

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