CZ once said, “IPOs will move onchain.” And I truly believed him. But looking at the current tokenized pre-IPO landscape, perpetuals platforms still dominate trading volume, accounting for roughly 80% of activity. So, what happens to spot pre-IPO markets? That's where these two platforms, @PreStocks and @Paimon_Finance, are positioning themselves to capture a share of the market. At @AnalyticSages, we've been closely monitoring the growth of tokenized assets, and we thought it was worth taking a deeper look at how these two platforms are performing. A few interesting findings stood out: > AI-related companies dominate activity across both platforms, although non-AI names like Polymarket (POLYp) and Anduril are also attracting attention. > Liquidity remains thin across many of the listed assets, making it difficult for these platforms to support broader trading activity. But there's more to the story, particularly around how these assets are priced and where the liquidity is coming from. We explored all of this in our latest research. Do well to read the full report below. 👇

If I were doing BD for any serious blockchain, I'd be reaching out to @AnalyticSages right now. Over the years, they've raised an interesting and highly productive set of data analysts, researchers, and top devs like myself, @Freemandayly, @defi__josh, @Kruys_Collins, etc. But with Dune becoming less accessible, the pathway for upcoming analysts to access free blockchain data has become much narrower. That's why their recent cohort on the "Blockchain Engineering Pathway" is a no-brainer. But you know where a blockchain gets to benefit? Right now, you've got people in that class asking themselves one question: What can I actually build that's useful? And with that level of hunger, many will end up reinventing things simply because they don't have a clear direction. But what if your blockchain could give them one? Give them access to your data, APIs, and real problems worth solving. From building data pipelines to dashboards, developer tools, and applications, these students get to understand your ecosystem beyond just interacting with its dApps. And you know what that means? They aren't just learning blockchain engineering anymore. They're building things your ecosystem could actually use. That's what real +EV looks like. Your chain gets more tools, useful products, and potentially new dApps, while the students get practical experience solving actual problems. PS: I'm leading research at Analytic Sages, so I guess you already know I love what we're building and can talk about it 24/7