Tootfinder

A look at challenges facing Tether and Circle's stablecoin duopoly, such as intermediaries like exchanges and DeFi protocols exploring their own stablecoins (Nic Carter/Murmurations II)
https://murmurationstwo.substack.com/p/the-stablecoin-duopoly-is-ending…

The stablecoin duopoly is ending
Three's a crowd

Murmurations using Petersson trace formula
Chan Ieong Kuan, Didier Lesesvre
https://arxiv.org/abs/2507.11418 https://arxiv.org/pdf/25…

Murmurations using Petersson trace formula
We prove the murmuration phenomenon, which is a correlation between signs of functional equations and Fourier coefficients, in the case of modular forms in the weight aspect. We in particular improve the range of visibility of murmurations compared to previous results. This is the first approach to the murmuration phenomenon using a relative trace formula, showing its robustness.