Theses - Page 2 of 10 - Alea Research

From messaging to money. Telegram's super-app is the distribution moat. TON's symbiosis unlocks asymmetric effects.

11 Sep, 2025 28 Min Read

Chintai’s real institutional RWA flows far exceed $CHEX’s market cap—creating rare, asymmetric upside for early conviction.

20 Aug, 2025 23 Min Read

Arbitrum goes beyond Arbitrum One, free L3s, profit-sharing L2s, and Stylus multi‑VM engine, boost adoption and thicker margins.

14 Aug, 2025 34 Min Read

Metaplex is Solana’s token-creation engine; asset issuance results in constant buy-pressure for $MPLX via buybacks.

04 Aug, 2025 22 Min Read

A bet on $EUL as a meta-protocol and DeFi operating sysstem with >3x borrowed/FDV and leading utilization rates.

21 Jul, 2025 28 Min Read

Onchain options leader at <$30m FDV; Coinbase-Deribit buy-out signals 10× upside as flows migrate onchain.

25 Jun, 2025 18 Min Read

ENA is a kingmaker bet: Converge unites yield, compliance, dApps; fees and flows accrue to staked ENA via fee switch.

20 Jun, 2025 20 Min Read

Layer3 converts protocols’ idle incentives into ROI by matching them with engaged users, generating $20M+ ARR.

10 Jun, 2025 11 Min Read