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AnalysisBT-2026-0212

The ordering supply chain professionalised

Extraction moved from opportunistic scripts to an industry with tiers and contracts.

SpansAISECFIN

7 minAlgorithmic & AI Trading

Searching, building and relaying are now distinct businesses with distinct margins. Value that once accrued to whoever was fastest is increasingly split by negotiated arrangement.

For an ordinary user this is mildly good — competition among builders returns some of it. For protocol designers it means neutrality assumptions need restating.

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Across the network

Desks that share a zone with this one on the BITBRIEF coverage map.

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