Independent investment research

Night Ash.

Crypto. Real assets. Market structure.

Market observations

View all

Data through

Liquidity pressure indicator56 score
Liquidity: five-year percentile56 percentile
Liquidity composite score-0.1262 score
Net dollar liquidity5.75 USD-trillion

Latest research

All research
Research

NEAR Intents Separates Auction Funding from ZEC Settlement

NEAR says bidders can use several assets while @zksnarks_ auctions settle in ZEC. The route may reduce funding friction, but its economics depend on conversion costs, settlement reliability, and how recipients manage ZEC inventory; privacy is a separate implementation question.

Read report