Arena Blog

Measured by drawdown, the 2026 bear market was the mildest of bitcoin's big cycles: −53 % against −77 % to −93 % before. Measured in time, it was the worst: the low matched a price from five and a quarter years earlier, further back than any low since 2010. And against its own history, bitcoin was not cheap at any low since 2017. Three numbers for every bear market, and what each tells you before you call bitcoin a bargain.

Ichimoku is usually traded with 9, 26 and 52 and with the rule "only buy above the cloud". Both were tested on crypto from 2018 to October 2026. The cloud rule lowered the result on all ten of today's largest coins, and on bitcoin and ether the traditional numbers did no better than randomly drawn ones. What that means for your settings.

Hyperliquid calls itself decentralised. When markets got tight, a market was closed by vote, winning positions were force-closed and a bridge was paused. Who holds the stake behind those decisions, and what it means for traders and HYPE holders.

Solana is gaining ground where the future is supposed to be: its share of tokenized securities has more than doubled since early 2025, and BlackRock keeps 43 percent of its BUIDL fund there. But in the third quarter of 2026, 65.7 percent of the revenue of apps on Solana came from memecoin trading, and 1.2 percent from all the long-term fields together. What Solana does, where it really grows, who buys and sells SOL, and how the price has done against bitcoin.

Kaspa delivered: ten blocks per second since May 2025, smart contracts since June 2026. Yet users pay the network about 94 dollars in fees a day, less than Dogecoin, while new coins worth 71,500 dollars go to miners daily. What Kaspa does, who uses it, how its supply works, and why every upgrade so far was followed by a lag against bitcoin.

Staking ALGO pays roughly 5 percent a year. The network takes in about $142 a day in fees, around 170 times less than it pays out. The rest comes from the Algorand Foundation, committed for about 24 months from January 2025. What Algorand does, who really uses it, who holds and sells ALGO, and how the price has done against bitcoin.

A popular framework says: cut a strategy's position in half when its 90-day Sharpe drops below the backtest's 5th percentile, pause it at 1.5x the backtest drawdown. Simulated, those rules cut eight in ten healthy strategies to half size within three years and leave four in five strategies without any edge running through their first year. What to check instead.

Zcash can hide what Bitcoin and Lightning cannot: the amount. Private use grew as fast as the price last year. But per private transaction the market pays ten times what it pays for Monero, and the few who carry that price have stopped buying.

Bitcoin can already hide who gets paid and which coins belong together. It cannot hide how much. Zcash and Monero can, and each pays for it somewhere you should know before you buy.

Venice sells private AI, and its DIEM token pays out one dollar of API credit every day. A DIEM costs about $1,870 on the market, but minting a new one locks up VVV worth about $11,500. What Venice does, how DIEM works, who controls the supply, and how VVV has done against bitcoin.