97
2Guest:
Kunal | Research Analyst at Blockworks
Producer/Host:
Danny He
Episode Description:
In this episode, we are honoured to welcome Kunal, a highly regarded crypto research analyst whose reports have becomeessential reading for navigating the recent market volatility.
As markets face a significant downturn,what truly drives price action behind the scenes? Where can value still befound when "easy trades" disappear? This conversation aims to movebeyond the noise, offering a clear, data-driven perspective on the forcesshaping crypto's next chapter.
Based in Singapore and writing for theinstitutional-grade research platform Blockworks, Kunal bridges deep on-chainanalysis with a global macro view. His journey—from studying accounting andfinance to becoming a trusted voice in crypto research—gives him a unique lensthrough which to dissect market structure and emerging opportunities.
In this discussion, we explore:
- Decoding the November Downturn: How ETF flows, digital asset treasuries, and whale behaviour converged to trigger the sell-off.
- Finding Alpha in a Tough Market: Why fundamentals in sectors like AI and RWA still matter, and how to identify catalysts in a low-liquidity environment.
- A Personal Investment Framework: How Kunal structures his portfolio across crypto and traditional assets, and his approach to risk management.
- Deep Dives on Key Narratives:
- The real potential of Centrifuge beyond Treasury bills, and why 2026 could be its breakthrough year.
- Why Solana ETF inflows are an underrated story, and the case for projects like Pump.
- The rise of equity perps and protocols like Hyperliquid poised to benefit.
Blockworks Research Website: www.blockworksresearch.com
Twitter: @Kunallegendd
LinkedIn: www.linkedin.com
All content discussed is for informationalpurposes only and does not constitute investment advice.
If you have any thoughts or questions, feel free to leave a comment. You can also add WeChat (Tracy_6652042) to join our listener community for more direct interaction.
Timeline：
02:01 From accounting student to crypto analyst: How did Kunal break into the industry?
05:06 How does a research analyst find opportunities and stay objective during amarket crash?
07:22 Are AI and RWA the only sectors where fundamentals still matter?
10:53 How does he balance investments between crypto and traditional assets?
15:04 Institutional flow decoded: What really caused Bitcoin’s 30% drop?
22:27 What are institutions paying for right now?
29:26 What’s missing in how we talk about crypto investing?
31:27 Two hidden gems
37:00 Practical advice for new comers
Producer Team:
Co-producer: Tracy
Edit: 觉狐
Thanks Tech Week Shanghai for the sponsorship！
