Foxperiodical

An investor decides to diversify. They buy a broad US index fund, a growth fund and a technology sector fund. Three funds, three tickers, three separate lines on the statement. It feels diversified.

In practice, all three may be dominated by the same small group of very large companies, and the portfolio may be more concentrated than a single broad fund would have been...

Gas is the most confusing part of using Ethereum, largely because the word is used for two different things: the amount of work, and the price of that work. Separating them makes the rest straightforward.

Gas is work, not money

Every operation on the network costs a fixed, protocol-defined amount of gas. Sending ether costs 21,000 gas. Transferring a token costs more, ...

Every trade has two prices at any moment: the highest a buyer is currently willing to pay, and the lowest a seller is currently willing to accept. The gap between them is the spread, and understanding it explains almost everything about order types.

Market orders

An instruction to trade immediately at whatever price is available. It guarantees that the trade happens. I...

Every ticker page on this site shows a set of figures supplied by our data provider: market capitalisation, dividend yield, 52-week range, beta and more. None of them mean anything on their own. All of them mean something in context. Here is the context.

Market capitalisation

Share price multiplied by ...

Sentiment indices are among the most quoted and least understood numbers in markets. The Crypto Fear and Greed Index in particular gets screenshotted constantly, usually with an implied conclusion the index itself does not support.

Our live gauge shows the current reading with thirty day...