<!DOCTYPE html><html lang="en" data-beasties-container><head><title data-rh="true">Perception | Digital asset research for institutions</title><meta data-rh="true" name="description" content="Research and strategy on digital assets for banks, asset managers, market infrastructure and digital asset companies."><meta data-rh="true" name="keywords" content="digital asset research, digital asset market intelligence, institutional digital asset research, digital asset peer tracking"><meta data-rh="true" property="og:type" content="website"><meta data-rh="true" property="og:url" content="https://perception.to/"><meta data-rh="true" property="og:title" content="Perception | Digital asset research for institutions"><meta data-rh="true" property="og:description" content="Research and strategy on digital assets for banks, asset managers, market infrastructure and digital asset companies."><meta data-rh="true" property="og:image" content="https://perception-og-image.fernandonikolic.workers.dev/api/og-image?title=Make+the+right+call+on+digital+assets&amp;path=%2F&amp;v=2026-09-23-v2"><meta data-rh="true" property="og:image:type" content="image/png"><meta data-rh="true" property="og:image:width" content="1200"><meta data-rh="true" property="og:image:height" content="630"><meta data-rh="true" property="og:image:alt" content="Make the right call on digital assets | Perception"><meta data-rh="true" property="twitter:card" content="summary_large_image"><meta data-rh="true" property="twitter:url" content="https://perception.to/"><meta data-rh="true" property="twitter:title" content="Perception | Digital asset research for institutions"><meta data-rh="true" property="twitter:description" content="Research and strategy on digital assets for banks, asset managers, market infrastructure and digital asset companies."><meta data-rh="true" property="twitter:image" content="https://perception-og-image.fernandonikolic.workers.dev/api/og-image?title=Make+the+right+call+on+digital+assets&amp;path=%2F&amp;v=2026-09-23-v2"><meta data-rh="true" property="twitter:image:alt" content="Make the right call on digital assets | Perception"><link data-rh="true" rel="canonical" href="https://perception.to/">
    <meta charset="UTF-8">
    <script>
      (function () {
        try {
          var requested = new URLSearchParams(location.search).get('motion');
          var explicit = requested === 'on' ? 'full' : requested === 'off' ? 'reduced' : requested === 'system' ? 'system' : null;
          var saved = null;
          try {
            if (explicit === 'system') localStorage.removeItem('perception-motion-choice');
            else if (explicit) localStorage.setItem('perception-motion-choice', explicit);
            saved = localStorage.getItem('perception-motion-choice');
          } catch (e) { /* Storage is optional; URL and device preferences still apply. */ }
          var mode = explicit || (saved === 'full' || saved === 'reduced' ? saved : 'system');
          var systemReduced = typeof matchMedia === 'function' && matchMedia('(prefers-reduced-motion: reduce)').matches;
          document.documentElement.dataset.siteMotion = mode === 'reduced' || (mode === 'system' && systemReduced) ? 'reduced' : 'full';
        } catch (e) {
          document.documentElement.dataset.siteMotion = 'reduced';
        }
      })();
    </script>
    <!-- Consume preview fragments before analytics or third-party scripts run. -->
    <script>
      (function () {
        if (!location.pathname.startsWith('/preview/')) return;
        var grant = new URLSearchParams(location.hash.slice(1)).get('grant');
        if (grant) window.__perceptionPreviewGrant = grant;
        history.replaceState(history.state, '', location.pathname + location.search);
      })();
    </script>
    <!-- Google Tag Manager -->
    <script>(function(w,d,s,l,i){if(w.location.pathname.startsWith('/preview/'))return;w[l]=w[l]||[];w[l].push({'gtm.start':
    new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],
    j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src=
    'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);
    })(window,document,'script','dataLayer','GTM-NVDZX38V');</script>
    <!-- End Google Tag Manager -->
    <link rel="icon" type="image/png" href="/logos/perception-logo-dark.png">
    <meta name="viewport" content="width=device-width, initial-scale=1.0">
    <meta name="robots" content="index, follow, max-image-preview:large, max-snippet:-1, max-video-preview:-1">
    <meta name="googlebot" content="index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1">
    <meta name="bingbot" content="index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1">
    <meta name="theme-color" content="#ffffff">
    <meta name="fragment" content="!">
    
    <link rel="sitemap" type="application/xml" href="/sitemap.xml">
    <link rel="alternate" type="text/plain" href="/llms.txt" title="LLMs.txt">

    <!-- DNS Prefetch for third-party services -->
    <link rel="dns-prefetch" href="//www.googletagmanager.com">
    <link rel="dns-prefetch" href="//js.stripe.com">
    <link rel="dns-prefetch" href="//app.perception.to">

    <!-- Structured data handled by middleware (seo-config.js) + React components -->

    <style>body{background-color:#fafafa;margin:0;min-height:100vh}#root{min-height:100vh;display:flex;flex-direction:column}.brand-artwork{min-width:0;width:100%;overflow:hidden}.brand-artwork>svg{display:block;width:100%;height:auto}.brand-artwork--fill{position:absolute;top:0;right:0;bottom:0;left:0;height:100%}.brand-artwork--fill>svg{height:100%;-o-object-fit:cover;object-fit:cover}.brand-artwork g[data-art-part]{transform-box:fill-box;transform-origin:center}.home-logo-walls{padding-bottom:40px}.home-social-row{padding-block:24px 28px;border-top:1px solid var(--brand-rule)}.home-social-row-heading{display:flex;align-items:center;justify-content:space-between;gap:16px;margin-bottom:16px}.home-page .home-social-row-heading h2{color:var(--brand-muted);font-size:13px;font-weight:400;line-height:1.5;letter-spacing:0;text-wrap:initial}.home-social-row-heading .home-text-link{flex-shrink:0;font-size:12px}.home-social-logos{display:grid;grid-template-columns:repeat(5,minmax(0,1fr));align-items:center;gap:16px 28px;margin:0;padding:0;list-style:none}.home-social-logos[data-press=true]{grid-template-columns:repeat(4,minmax(0,1fr))}.home-social-logos a{display:flex;min-height:80px;flex-direction:column;align-items:center;justify-content:center;gap:8px;color:var(--brand-muted)}.home-social-logos a:focus-visible{outline:2px solid var(--brand-blue);outline-offset:6px}.home-social-logo-art{display:flex;width:100%;height:72px;align-items:center;justify-content:center;overflow:hidden}.home-social-logo-art img{display:block;width:auto;max-width:100%;height:34px;-o-object-fit:contain;object-fit:contain}.home-social-logos [data-logo=Cointelegraph] img{width:210px;height:auto}.home-social-logos [data-logo=Forbes] img{width:154px;height:auto}.home-social-logos [data-logo=CoinDesk] img{height:36px}.home-social-logos [data-logo="Bitcoin Magazine"] img{height:40px}@media (max-width: 640px){.home-logo-walls{padding-bottom:24px}.home-social-row{padding-block:20px 24px}.home-social-row-heading{align-items:baseline;gap:12px}.home-social-logos,.home-social-logos[data-press=true]{grid-template-columns:repeat(2,minmax(0,1fr));gap:16px 24px}.home-social-logo-art img{max-width:144px;height:30px}.home-social-logos [data-logo=CoinDesk] img{max-width:100%;height:28px}.home-social-logos [data-logo="Bitcoin Magazine"] img{max-width:100%;height:34px}}.home-page{--home-ink:var(--brand-ink, #111111);--home-muted:var(--brand-muted, #626671);--home-rule:var(--brand-rule, #DCDFE7);--home-paper:var(--brand-paper, #F7F8FC);--home-blue:var(--brand-blue, #3B46F2);color:var(--home-ink);background:var(--home-paper)}.home-container{width:min(1440px,100%);margin-inline:auto;padding-inline:clamp(24px,4.45vw,64px)}.home-section{padding-block:clamp(64px,7vw,100px);scroll-margin-top:92px}.home-page :is(.home-section-heading,.home-section-intro,.home-context-heading,.home-final-layout,.home-faq-layout) h2{font-size:clamp(30px,3.5vw,50px);line-height:1.08;letter-spacing:-.04em;font-weight:500;text-wrap:balance}.home-page p{text-wrap:pretty}.home-hero{padding-block:156px 90px}.home-hero-layout{display:grid;grid-template-columns:minmax(0,1.25fr) minmax(0,1fr);align-items:center;gap:clamp(40px,7vw,100px)}.home-headline{max-width:710px;margin:0;font-size:clamp(48px,5.1vw,74px);line-height:1.02;font-weight:500;letter-spacing:-.055em;text-wrap:balance}.home-intro-copy{max-width:500px;margin-top:30px;font-size:18px;line-height:1.55;color:var(--home-muted)}.home-hero-actions{display:flex;align-items:center;flex-wrap:wrap;gap:12px 26px;margin-top:32px}.home-primary-action{display:inline-flex;min-height:48px;align-items:center;justify-content:center;gap:24px;border:1px solid var(--home-blue);border-radius:2px;background:var(--home-blue);padding:0 22px;color:var(--home-paper);font-size:15px;font-weight:500;transition:background-color .16s ease,border-color .16s ease}.home-primary-action:hover{background:var(--brand-royal, #2635D9);border-color:var(--brand-royal, #2635D9)}.home-text-link{display:inline-flex;min-height:44px;align-items:center;gap:9px;color:inherit;font-size:14px;text-decoration:underline;text-decoration-thickness:1px;text-decoration-color:currentColor;text-underline-offset:5px}.home-text-link:hover{color:var(--home-blue)}.home-free-access{margin-top:16px;font-size:12px;color:var(--home-muted)}.home-hero-art{position:relative;width:100%;aspect-ratio:1;overflow:hidden}.home-section-heading{display:flex;align-items:end;justify-content:space-between;gap:32px;margin-bottom:48px}.home-section-heading h2{max-width:720px}.home-section-intro h2{max-width:440px}.home-section-intro>p{margin-top:24px;max-width:390px;color:var(--home-muted);font-size:17px;line-height:1.6}.home-record{background:var(--home-ink);color:var(--home-paper)}.home-record-layout{display:grid;grid-template-columns:1fr 1fr;gap:clamp(40px,8vw,120px)}.home-record .home-section-intro>p{color:#c7cad2}.home-record .home-text-link{margin-top:25px}.home-record .home-text-link:hover{color:#fff}.home-record-details>div{border-top:1px solid #45464D;padding-block:23px}.home-record-details>div:first-child{padding-top:0;border-top:0}.home-record-details>div:last-child{padding-bottom:0}.home-record-details dt{font-size:23px;letter-spacing:-.02em}.home-record-details dd{margin-top:12px;max-width:460px;color:#c7cad2;font-size:16px;line-height:1.7}.home-faq{padding-top:32px}.home-faq-layout{display:grid;grid-template-columns:.75fr 1.3fr;gap:clamp(36px,7vw,100px)}.home-faq-list>details{border-top:1px solid var(--home-rule)}.home-faq-list>details:last-child{border-bottom:1px solid var(--home-rule)}.home-faq-list summary{display:flex;align-items:center;justify-content:space-between;gap:24px;padding-block:24px;cursor:pointer;font-size:18px;line-height:1.4;list-style:none}.home-page summary::-webkit-details-marker{display:none}.home-faq-list summary>span{font-size:24px;font-weight:300}.home-faq-list details>div{padding-bottom:20px}.home-faq-list p{max-width:550px;font-size:16px;line-height:1.7;color:var(--home-muted)}.home-faq-list .home-text-link{margin-top:8px}.home-final-cta{background:var(--home-blue);color:var(--home-paper);padding-block:clamp(64px,8vw,112px)}.home-final-layout{display:grid;grid-template-columns:1.25fr 1fr;align-items:center;gap:72px}.home-final-layout h2{max-width:680px;font-size:clamp(40px,4.2vw,62px)}.home-final-layout>div{justify-self:end}.home-final-cta .home-primary-action{background:var(--home-paper);border-color:var(--home-paper);color:var(--home-ink);min-width:215px}.home-final-cta .home-primary-action:hover{background:#fff;border-color:#fff}.home-final-cta p{margin-top:18px;font-size:12px;color:var(--home-paper)}.home-subhead{max-width:560px;margin-top:24px;font-size:22px;line-height:1.4;letter-spacing:-.02em;color:var(--home-ink);text-wrap:pretty}.home-eyebrow{margin:0 0 18px;color:var(--home-muted);font:12px/1.5 var(--brand-font-mono);text-transform:uppercase;letter-spacing:.16em}.home-section-intro-wide h2,.home-section-intro-wide>p{max-width:720px}.home-team-grid{display:grid;grid-template-columns:repeat(3,minmax(0,1fr));gap:28px;margin-top:48px}.home-team-grid li{border-top:1px solid var(--home-rule);padding-top:22px}.home-team-grid h3{font-size:20px;line-height:1.25;letter-spacing:-.02em;font-weight:500}.home-team-grid p{margin-top:12px;font-size:16px;line-height:1.6;color:var(--home-muted)}.home-offers{border-block:1px solid var(--home-rule);background:#fff}.home-offer-list>li{display:grid;grid-template-columns:56px minmax(0,.9fr) minmax(0,.7fr) minmax(0,1.6fr);gap:24px;align-items:baseline;border-top:1px solid var(--home-rule);padding-block:26px}.home-offer-list>li:last-child{border-bottom:1px solid var(--home-rule)}.home-offer-step{color:var(--home-muted);font:12px/1.5 var(--brand-font-mono)}.home-offer-list h3{font-size:22px;line-height:1.25;letter-spacing:-.02em;font-weight:500}.home-offer-price{font-size:17px;font-weight:500}.home-offer-line>p{font-size:16px;line-height:1.6;color:var(--home-muted)}.home-offer-line a{color:var(--home-ink);text-decoration:underline;text-underline-offset:4px}.home-offer-line a:hover{color:var(--home-blue)}.home-offers-action{margin-top:36px}.home-offers-intro{max-width:620px;margin-top:20px;font-size:17px;line-height:1.6;color:var(--home-muted)}.home-sample-proof{max-width:56rem;margin-top:28px;font-size:17px;line-height:1.6;color:var(--home-ink)}.home-final-cta .home-final-body{max-width:560px;font-size:18px;line-height:1.55}.home-page :is(a,button,summary):focus-visible{outline:2px solid var(--home-blue);outline-offset:5px}.home-record :is(a,button):focus-visible,.home-final-cta a:focus-visible{outline-color:var(--home-paper)}@media (max-width: 1000px){.home-hero{padding-block:128px 64px}.home-hero-layout{gap:40px;grid-template-columns:1.2fr .9fr}.home-headline{font-size:clamp(46px,6vw,62px)}.home-intro-copy{font-size:16px}.home-team-grid{grid-template-columns:repeat(2,minmax(0,1fr))}.home-offer-list>li{grid-template-columns:48px minmax(0,1fr) minmax(0,1.4fr)}.home-offer-list>li>.home-offer-line{grid-column:2 / -1}.home-section-heading{align-items:start}}@media (max-width: 700px){.home-hero{padding-block:112px 48px}.home-hero-layout{grid-template-columns:1fr;gap:38px}.home-headline{max-width:590px;font-size:clamp(42px,10.8vw,64px);letter-spacing:-.047em}.home-intro-copy{margin-top:24px;max-width:470px}.home-hero-art{aspect-ratio:1.4}.home-hero-actions{margin-top:26px;gap:12px 20px}.home-section-heading{display:block;margin-bottom:32px}.home-section-heading>:last-child:not(:first-child){margin-top:16px}.home-record-layout,.home-faq-layout{grid-template-columns:1fr;gap:32px}.home-section-intro h2{max-width:460px}.home-section-intro>p{max-width:480px;margin-top:20px;font-size:16px}.home-subhead{font-size:19px;margin-top:20px}.home-team-grid{grid-template-columns:1fr;gap:24px;margin-top:32px}.home-offer-list>li{grid-template-columns:40px minmax(0,1fr);gap:6px 16px}.home-offer-list>li>:is(.home-offer-price,.home-offer-line){grid-column:2}.home-final-layout{grid-template-columns:1fr;gap:32px}.home-final-layout>div{justify-self:start}}@media (prefers-reduced-motion: reduce){.home-primary-action{transition:none}}.home-context-problem{border-top:1px solid var(--home-rule)}.home-context-heading{max-width:770px}.home-context-heading h2{max-width:720px}.home-context-heading>p{max-width:740px;margin-top:24px;font-size:18px;line-height:1.6;color:var(--home-muted)}@media (max-width: 700px){.home-context-heading>p{font-size:16px}}:root{--brand-paper:#F7F8FC;--brand-ink:#111111;--brand-blue:#3B46F2;--brand-royal:#2635D9;--brand-muted:#626671;--brand-rule:#DCDFE7;--brand-font-sans:"Geist", Arial, sans-serif;--brand-font-mono:"Necto Mono", monospace}.brand-site{font-family:var(--brand-font-sans);background:var(--brand-paper);color:var(--brand-ink)}.brand-site :is(h1,h2,h3,h4){font-family:var(--brand-font-sans);font-style:normal}.brand-navigation{background:var(--brand-paper);border-bottom:1px solid var(--brand-rule)}.brand-nav-surface{background:var(--brand-paper)}.brand-footer{background:var(--brand-ink);color:var(--brand-paper);border-top:6px solid var(--brand-blue)}.brand-footer-inner{max-width:1440px;padding:64px 40px 32px;margin:auto}.brand-footer-heading{display:flex;justify-content:space-between;align-items:center;gap:28px;margin-bottom:56px}.brand-footer-heading>a{font-size:28px;letter-spacing:-.04em}.brand-footer-heading>p{font-size:16px;color:#c4c7d2}.brand-footer-links{display:grid;grid-template-columns:repeat(5,1fr);gap:32px}@media (max-width:1080px){.brand-footer-links{grid-template-columns:repeat(3,1fr)}}.brand-footer-links h3{font:12px var(--brand-font-mono);color:#a7abba;margin-bottom:16px}.brand-footer-links a{display:inline-flex;align-items:center;min-height:44px;font-size:14px;color:var(--brand-paper)}.brand-footer a:hover{text-decoration:underline;text-underline-offset:4px}.brand-footer-bottom{margin-top:48px;padding-top:32px;border-top:1px solid #37383f;display:flex;justify-content:space-between;gap:40px}.brand-footer-newsletter h3{font-size:20px;letter-spacing:-.03em;color:var(--brand-paper)}.brand-footer-newsletter>p,.brand-footer-legal p{font-size:14px;line-height:1.5;color:#a7abba;margin:10px 0 18px}.brand-footer-legal{display:flex;flex-direction:column;align-items:flex-end}.brand-footer-legal>div:last-child{display:flex;gap:20px;font-size:13px}.brand-artwork{display:block;width:100%;height:auto}@media (max-width:720px){.brand-footer-inner{padding:44px 24px 28px}.brand-footer-heading,.brand-footer-bottom{flex-direction:column;align-items:flex-start}.brand-footer-heading{margin-bottom:36px}.brand-footer-links{grid-template-columns:repeat(2,1fr);gap:30px 20px}.brand-footer-links a{min-height:44px}.brand-footer-legal{align-items:flex-start}}.home-hero-copy{min-width:0}.brand-site :is(h1,h2){text-wrap:balance}.brand-site :is(input:not([type=checkbox]):not([type=radio]),select,textarea){min-height:44px}.brand-site :is(input,textarea){caret-color:var(--brand-blue)}.motion-page-feedback[class]{transition-property:color,background-color,border-color,opacity,transform;transition-duration:var(--motion-feedback);transition-timing-function:var(--motion-ease-out)}@media (prefers-reduced-motion: reduce){:root:not([data-site-motion=full]) .motion-page-feedback[class]{transition-property:color,background-color,border-color,opacity}}@font-face{font-family:Geist;src:url(/fonts/Geist-Variable.woff2) format("woff2");font-weight:100 900;font-style:normal;font-display:swap}@font-face{font-family:Geist;src:url(/fonts/Geist-VariableItalic.woff2) format("woff2");font-weight:100 900;font-style:italic;font-display:swap}@font-face{font-family:Necto Mono;src:url(/fonts/NectoMono-Regular.woff2) format("woff2");font-weight:400;font-style:normal;font-display:swap}*,:before,:after{--tw-border-spacing-x:0;--tw-border-spacing-y:0;--tw-translate-x:0;--tw-translate-y:0;--tw-rotate:0;--tw-skew-x:0;--tw-skew-y:0;--tw-scale-x:1;--tw-scale-y:1;--tw-pan-x: ;--tw-pan-y: ;--tw-pinch-zoom: ;--tw-scroll-snap-strictness:proximity;--tw-gradient-from-position: ;--tw-gradient-via-position: ;--tw-gradient-to-position: ;--tw-ordinal: ;--tw-slashed-zero: ;--tw-numeric-figure: ;--tw-numeric-spacing: ;--tw-numeric-fraction: ;--tw-ring-inset: ;--tw-ring-offset-width:0px;--tw-ring-offset-color:#fff;--tw-ring-color:rgb(88 102 245 / .5);--tw-ring-offset-shadow:0 0 #0000;--tw-ring-shadow:0 0 #0000;--tw-shadow:0 0 #0000;--tw-shadow-colored:0 0 #0000;--tw-blur: ;--tw-brightness: ;--tw-contrast: ;--tw-grayscale: ;--tw-hue-rotate: ;--tw-invert: ;--tw-saturate: ;--tw-sepia: ;--tw-drop-shadow: ;--tw-backdrop-blur: ;--tw-backdrop-brightness: ;--tw-backdrop-contrast: ;--tw-backdrop-grayscale: ;--tw-backdrop-hue-rotate: ;--tw-backdrop-invert: ;--tw-backdrop-opacity: ;--tw-backdrop-saturate: ;--tw-backdrop-sepia: ;--tw-contain-size: ;--tw-contain-layout: ;--tw-contain-paint: ;--tw-contain-style: }*,:before,:after{box-sizing:border-box;border-width:0;border-style:solid;border-color:#e5e7eb}:before,:after{--tw-content:""}html{line-height:1.5;-webkit-text-size-adjust:100%;-moz-tab-size:4;-o-tab-size:4;tab-size:4;font-family:Geist,Arial,sans-serif;font-feature-settings:normal;font-variation-settings:normal;-webkit-tap-highlight-color:transparent}body{margin:0;line-height:inherit}h1,h2,h3{font-size:inherit;font-weight:inherit}a{color:inherit;text-decoration:inherit}button,input{font-family:inherit;font-feature-settings:inherit;font-variation-settings:inherit;font-size:100%;font-weight:inherit;line-height:inherit;letter-spacing:inherit;color:inherit;margin:0;padding:0}button{text-transform:none}button{-webkit-appearance:button;background-color:transparent;background-image:none}summary{display:list-item}dl,dd,h1,h2,h3,p{margin:0}ol,ul{list-style:none;margin:0;padding:0}input::-moz-placeholder{opacity:1;color:#9ca3af}input::placeholder{opacity:1;color:#9ca3af}button{cursor:pointer}img,svg,iframe{display:block;vertical-align:middle}img{max-width:100%;height:auto}:root{--background:228 45.45% 97.84%;--foreground:0 0% 6.67%;--card:0 0% 100%;--card-foreground:224 71.4% 4.1%;--popover:0 0% 100%;--popover-foreground:224 71.4% 4.1%;--primary:236.39 87.56% 59.02%;--primary-foreground:228 45.45% 97.84%;--secondary:210 40% 96.1%;--secondary-foreground:222.2 47.4% 11.2%;--muted:210 40% 96.1%;--muted-foreground:224 7% 41%;--accent:210 40% 96.1%;--accent-foreground:222.2 47.4% 11.2%;--destructive:0 84.2% 60.2%;--destructive-foreground:210 40% 98%;--border:214.3 31.8% 91.4%;--input:214.3 31.8% 91.4%;--ring:236.39 87.56% 59.02%;--radius:.25rem;--motion-ease-out:cubic-bezier(.23, 1, .32, 1);--motion-ease-in-out:cubic-bezier(.77, 0, .175, 1);--motion-ease-drawer:cubic-bezier(.32, .72, 0, 1);--motion-feedback:.16s;--motion-popover:.18s;--motion-panel:.2s;--font-sans:"Geist", Arial, sans-serif}*{border-color:hsl(var(--border))}html{overflow-x:clip}body{overflow-x:clip;background-color:var(--brand-paper);color:hsl(var(--foreground));-webkit-font-smoothing:antialiased;-moz-osx-font-smoothing:grayscale}:where(a,button,input,select,textarea,summary,[tabindex]):focus-visible{outline:2px solid var(--brand-blue);outline-offset:3px}:where(section,h2,h3)[id]{scroll-margin-top:7rem}.sr-only{position:absolute;width:1px;height:1px;padding:0;margin:-1px;overflow:hidden;clip:rect(0,0,0,0);white-space:nowrap;border-width:0}.visible{visibility:visible}.fixed{position:fixed}.absolute{position:absolute}.relative{position:relative}.left-1\/2{left:50%}.top-0{top:0}.top-\[1px\]{top:1px}.top-full{top:100%}.z-10{z-index:10}.z-50{z-index:50}.mx-0{margin-left:0;margin-right:0}.mx-auto{margin-left:auto;margin-right:auto}.ml-1{margin-left:.25rem}.mt-4{margin-top:1rem}.mt-5{margin-top:1.25rem}.mt-6{margin-top:1.5rem}.flex{display:flex}.inline-flex{display:inline-flex}.hidden{display:none}.h-11{height:2.75rem}.h-20{height:5rem}.h-3{height:.75rem}.h-4{height:1rem}.h-7{height:1.75rem}.h-8{height:2rem}.h-9{height:2.25rem}.min-h-11{min-height:2.75rem}.min-h-screen{min-height:100vh}.w-11{width:2.75rem}.w-3{width:.75rem}.w-4{width:1rem}.w-7{width:1.75rem}.w-8{width:2rem}.w-full{width:100%}.w-max{width:-moz-max-content;width:max-content}.min-w-0{min-width:0px}.min-w-11{min-width:2.75rem}.max-w-4xl{max-width:56rem}.max-w-\[1440px\]{max-width:1440px}.max-w-\[440px\]{max-width:440px}.flex-1{flex:1 1 0%}.shrink-0{flex-shrink:0}.-translate-x-1\/2{--tw-translate-x:-50%;transform:translate(var(--tw-translate-x),var(--tw-translate-y)) rotate(var(--tw-rotate)) skew(var(--tw-skew-x)) skewY(var(--tw-skew-y)) scaleX(var(--tw-scale-x)) scaleY(var(--tw-scale-y))}.translate-y-0{--tw-translate-y:0px;transform:translate(var(--tw-translate-x),var(--tw-translate-y)) rotate(var(--tw-rotate)) skew(var(--tw-skew-x)) skewY(var(--tw-skew-y)) scaleX(var(--tw-scale-x)) scaleY(var(--tw-scale-y))}.transform-gpu{transform:translate3d(var(--tw-translate-x),var(--tw-translate-y),0) rotate(var(--tw-rotate)) skew(var(--tw-skew-x)) skewY(var(--tw-skew-y)) scaleX(var(--tw-scale-x)) scaleY(var(--tw-scale-y))}.scroll-mt-28{scroll-margin-top:7rem}.list-none{list-style-type:none}.flex-col{flex-direction:column}.items-center{align-items:center}.justify-center{justify-content:center}.justify-between{justify-content:space-between}.gap-1\.5{gap:.375rem}.gap-2{gap:.5rem}.gap-2\.5{gap:.625rem}.gap-3{gap:.75rem}.space-x-1>:not([hidden])~:not([hidden]){--tw-space-x-reverse:0;margin-right:calc(.25rem * var(--tw-space-x-reverse));margin-left:calc(.25rem * calc(1 - var(--tw-space-x-reverse)))}.space-x-4>:not([hidden])~:not([hidden]){--tw-space-x-reverse:0;margin-right:calc(1rem * var(--tw-space-x-reverse));margin-left:calc(1rem * calc(1 - var(--tw-space-x-reverse)))}.whitespace-nowrap{white-space:nowrap}.rounded-\[4px\]{border-radius:4px}.rounded-md{border-radius:calc(var(--radius) - 2px)}.border{border-width:1px}.border-slate-300{--tw-border-opacity:1;border-color:rgb(189 193 206 / var(--tw-border-opacity, 1))}.border-slate-600{--tw-border-opacity:1;border-color:rgb(81 85 95 / var(--tw-border-opacity, 1))}.bg-background{background-color:hsl(var(--background))}.bg-primary{background-color:hsl(var(--primary))}.bg-slate-950{--tw-bg-opacity:1;background-color:rgb(17 17 17 / var(--tw-bg-opacity, 1))}.bg-transparent{background-color:transparent}.bg-white{--tw-bg-opacity:1;background-color:rgb(255 255 255 / var(--tw-bg-opacity, 1))}.fill-current{fill:currentColor}.object-contain{-o-object-fit:contain;object-fit:contain}.px-3{padding-left:.75rem;padding-right:.75rem}.px-4{padding-left:1rem;padding-right:1rem}.px-5{padding-left:1.25rem;padding-right:1.25rem}.px-6{padding-left:1.5rem;padding-right:1.5rem}.py-2{padding-top:.5rem;padding-bottom:.5rem}.font-mono{font-family:Necto Mono,ui-monospace,SFMono-Regular,monospace}.font-sans{font-family:Geist,Arial,sans-serif}.text-3xl{font-size:1.875rem;line-height:1.2;letter-spacing:-.02em}.text-\[13px\]{font-size:13px}.text-\[14px\]{font-size:14px}.text-\[21px\]{font-size:21px}.text-base{font-size:1rem;line-height:1.5;letter-spacing:0}.text-sm{font-size:.875rem;line-height:1.35;letter-spacing:.01em}.text-xs{font-size:.75rem;line-height:1.25;letter-spacing:.02em}.font-medium{font-weight:500}.uppercase{text-transform:uppercase}.leading-relaxed{line-height:1.625}.tracking-\[-0\.03em\]{letter-spacing:-.03em}.tracking-\[0\.25em\]{letter-spacing:.25em}.tracking-tight{letter-spacing:-.02em}.text-\[var\(--brand-blue\)\]{color:var(--brand-blue)}.text-foreground{color:hsl(var(--foreground))}.text-primary-foreground{color:hsl(var(--primary-foreground))}.text-red-300{--tw-text-opacity:1;color:rgb(252 165 165 / var(--tw-text-opacity, 1))}.text-red-700{--tw-text-opacity:1;color:rgb(185 28 28 / var(--tw-text-opacity, 1))}.text-slate-400{--tw-text-opacity:1;color:rgb(135 140 155 / var(--tw-text-opacity, 1))}.text-slate-500{--tw-text-opacity:1;color:rgb(98 102 113 / var(--tw-text-opacity, 1))}.text-slate-600{--tw-text-opacity:1;color:rgb(81 85 95 / var(--tw-text-opacity, 1))}.text-slate-700{--tw-text-opacity:1;color:rgb(59 62 71 / var(--tw-text-opacity, 1))}.text-slate-900{--tw-text-opacity:1;color:rgb(17 17 17 / var(--tw-text-opacity, 1))}.text-slate-950{--tw-text-opacity:1;color:rgb(17 17 17 / var(--tw-text-opacity, 1))}.text-white{--tw-text-opacity:1;color:rgb(255 255 255 / var(--tw-text-opacity, 1))}.underline{text-decoration-line:underline}.underline-offset-4{text-underline-offset:4px}.opacity-100{opacity:1}.transition-colors{transition-property:color,background-color,border-color,text-decoration-color,fill,stroke;transition-timing-function:cubic-bezier(.4,0,.2,1);transition-duration:.15s}.duration-200{transition-duration:.2s}.duration-200{animation-duration:.2s}html,body{overflow-x:clip}.motion-feedback{transition:color var(--motion-feedback) ease,background-color var(--motion-feedback) ease,border-color var(--motion-feedback) ease,opacity var(--motion-feedback) ease}.motion-chevron{transition:transform var(--motion-feedback) var(--motion-ease-out)}.motion-navigation{transition:transform var(--motion-panel) var(--motion-ease-in-out),opacity var(--motion-panel) var(--motion-ease-in-out)}@media (prefers-reduced-motion: reduce){:root:not([data-site-motion]) .motion-navigation,:root:not([data-site-motion]) .motion-chevron{transition:none}}.placeholder\:text-slate-400::-moz-placeholder{--tw-text-opacity:1;color:rgb(135 140 155 / var(--tw-text-opacity, 1))}.placeholder\:text-slate-400::placeholder{--tw-text-opacity:1;color:rgb(135 140 155 / var(--tw-text-opacity, 1))}.hover\:bg-primary\/90:hover{background-color:hsl(var(--primary) / .9)}.hover\:bg-slate-200:hover{--tw-bg-opacity:1;background-color:rgb(220 223 231 / var(--tw-bg-opacity, 1))}.hover\:bg-slate-800:hover{--tw-bg-opacity:1;background-color:rgb(41 43 50 / var(--tw-bg-opacity, 1))}.hover\:bg-white\/10:hover{background-color:#ffffff1a}.hover\:text-\[var\(--brand-blue\)\]:hover{color:var(--brand-blue)}.hover\:text-blue-600:hover{--tw-text-opacity:1;color:rgb(59 70 242 / var(--tw-text-opacity, 1))}.hover\:text-white:hover{--tw-text-opacity:1;color:rgb(255 255 255 / var(--tw-text-opacity, 1))}.hover\:underline:hover{text-decoration-line:underline}.focus\:not-sr-only:focus{position:static;width:auto;height:auto;padding:0;margin:0;overflow:visible;clip:auto;white-space:normal}.focus\:absolute:focus{position:absolute}.focus\:left-4:focus{left:1rem}.focus\:top-4:focus{top:1rem}.focus\:z-50:focus{z-index:50}.focus\:rounded-md:focus{border-radius:calc(var(--radius) - 2px)}.focus\:bg-white:focus{--tw-bg-opacity:1;background-color:rgb(255 255 255 / var(--tw-bg-opacity, 1))}.focus\:px-4:focus{padding-left:1rem;padding-right:1rem}.focus\:py-2:focus{padding-top:.5rem;padding-bottom:.5rem}.focus\:text-black:focus{--tw-text-opacity:1;color:rgb(0 0 0 / var(--tw-text-opacity, 1))}.focus\:shadow-lg:focus{--tw-shadow:0 10px 15px -3px rgb(0 0 0 / .1), 0 4px 6px -4px rgb(0 0 0 / .1);--tw-shadow-colored:0 10px 15px -3px var(--tw-shadow-color), 0 4px 6px -4px var(--tw-shadow-color);box-shadow:var(--tw-ring-offset-shadow, 0 0 #0000),var(--tw-ring-shadow, 0 0 #0000),var(--tw-shadow)}.focus\:outline-none:focus{outline:2px solid transparent;outline-offset:2px}.focus-visible\:outline-none:focus-visible{outline:2px solid transparent;outline-offset:2px}.focus-visible\:ring-1:focus-visible{--tw-ring-offset-shadow:var(--tw-ring-inset) 0 0 0 var(--tw-ring-offset-width) var(--tw-ring-offset-color);--tw-ring-shadow:var(--tw-ring-inset) 0 0 0 calc(1px + var(--tw-ring-offset-width)) var(--tw-ring-color);box-shadow:var(--tw-ring-offset-shadow),var(--tw-ring-shadow),var(--tw-shadow, 0 0 #0000)}.focus-visible\:ring-2:focus-visible{--tw-ring-offset-shadow:var(--tw-ring-inset) 0 0 0 var(--tw-ring-offset-width) var(--tw-ring-offset-color);--tw-ring-shadow:var(--tw-ring-inset) 0 0 0 calc(2px + var(--tw-ring-offset-width)) var(--tw-ring-color);box-shadow:var(--tw-ring-offset-shadow),var(--tw-ring-shadow),var(--tw-shadow, 0 0 #0000)}.focus-visible\:ring-blue-600:focus-visible{--tw-ring-opacity:1;--tw-ring-color:rgb(59 70 242 / var(--tw-ring-opacity, 1))}.focus-visible\:ring-ring:focus-visible{--tw-ring-color:hsl(var(--ring))}.focus-visible\:ring-offset-2:focus-visible{--tw-ring-offset-width:2px}.focus-visible\:ring-offset-slate-950:focus-visible{--tw-ring-offset-color:#111111}.disabled\:pointer-events-none:disabled{pointer-events:none}.disabled\:opacity-50:disabled{opacity:.5}@media (min-width: 640px){.sm\:flex-row{flex-direction:row}.sm\:px-10{padding-left:2.5rem;padding-right:2.5rem}.sm\:text-4xl{font-size:2.25rem;line-height:1.1;letter-spacing:-.02em}.sm\:text-lg{font-size:1.125rem;line-height:1.5;letter-spacing:0}}@media (min-width: 1024px){.lg\:flex{display:flex}.lg\:hidden{display:none}.lg\:flex-1{flex:1 1 0%}.lg\:justify-center{justify-content:center}}@media (prefers-reduced-motion: no-preference){@media (hover:hover) and (pointer:fine){:root:not([data-site-motion]) .motion-safe\:\[\@media\(hover\:hover\)_and_\(pointer\:fine\)\]\:hover\:scale-110:hover{--tw-scale-x:1.1;--tw-scale-y:1.1;transform:translate(var(--tw-translate-x),var(--tw-translate-y)) rotate(var(--tw-rotate)) skew(var(--tw-skew-x)) skewY(var(--tw-skew-y)) scaleX(var(--tw-scale-x)) scaleY(var(--tw-scale-y))}}}</style>
    <script>
      // Clear any cached service workers
      if ('serviceWorker' in navigator) {
        navigator.serviceWorker.getRegistrations().then(function(registrations) {
          for(let registration of registrations) {
            registration.unregister();
          }
        });
        // Clear caches
        if ('caches' in window) {
          caches.keys().then(function(names) {
            for (let name of names) {
              caches.delete(name);
            }
          });
        }
      }
    </script>

    <script>
      // WebMCP — expose site tools to AI agents running in the browser.
      // Spec: https://webmachinelearning.github.io/webmcp/
      (function () {
        if (!('modelContext' in navigator) || typeof navigator.modelContext.provideContext !== 'function') {
          return;
        }
        try {
          navigator.modelContext.provideContext({
            tools: [
              {
                name: 'get_perception_mcp_server',
                description: 'Return the Perception MCP server endpoint, transport, auth metadata, and descriptor URL so an AI client can connect to the digital asset industry narrative record for cited search, trends, sentiment, entities, earnings, regulation, and company intelligence.',
                inputSchema: { type: 'object', properties: {}, additionalProperties: false },
                execute: async () => ({
                  name: 'Perception',
                  url: 'https://mcp.perception.to/mcp',
                  transport: 'streamable-http',
                  protocolVersion: '2025-06-18',
                  descriptor: 'https://perception.to/.well-known/mcp.json',
                  agentCard: 'https://perception.to/.well-known/agent.json',
                  skillsIndex: 'https://perception.to/.well-known/agent-skills/index.json',
                  documentation: 'https://perception.to/integrations/mcp',
                  pricing: 'https://perception.to/pricing',
                  positioning: {
                    contractVersion: '2026-10-09-demo-led-v1',
                    category: 'Narrative intelligence for digital assets',
                    coveredSources: ['media coverage', 'podcasts', 'company disclosures', 'regulatory filings', 'earnings calls', 'public conversations'],
                    complementarySources: ['on-chain activity', 'wallet attribution', 'blockchain transactions', 'token prices', 'order books', 'trade execution']
                  },
                  commercialModel: {
                    version: '2026-09-21-weighted-v2',
                    billingMetric: 'weighted credits shared across MCP and REST',
                    catalog: {
                      registeredTools: 35,
                      commercialMeteredTools: 33,
                      unmeteredTools: ['perception_get_subject_taxonomy', 'perception_get_usage']
                    },
                    calculation: { toolBaseCredits: [1, 2, 3], resultBlockSize: 25, creditsPerRequestedBlock: 1, maximumCreditsPerCall: 10 },
                    free: { toolCount: 33, includedCredits: 5, creditWindow: 'utc-day', creditAccounting: 'weighted', publicTrial: false },
                    metered: {
                      label: 'Registered metered',
                      subscriptionRequired: false,
                      toolCount: 33,
                      creditAccounting: 'weighted',
                      priceUsdPerCredit: 0.05,
                      dailyPaidCreditLimit: 20,
                      signupUrl: 'https://app.perception.to/auth/sign-up?source=pricing-metered&plan=metered'
                    },
                    perception: { toolCount: 33, includedCredits: 1000, creditWindow: 'subscription-month', overagePriceUsdPerCredit: 0.025, overageCapOptionsUsd: [25, 50] },
                    intelligence: { toolCount: 33, includedCredits: 8000, creditWindow: 'subscription-month', overagePriceUsdPerCredit: 0.025, overageCapOptionsUsd: [25, 50, 100, 250] },
                    x402: { accountRequired: false, priceUsdPerCredit: 0.10 }
                  },
                  auth: {
                    type: 'oauth2',
                    authorizationUrl: 'https://mcp.perception.to/authorize',
                    tokenUrl: 'https://mcp.perception.to/token',
                    registrationUrl: 'https://mcp.perception.to/register'
                  }
                })
              },
              {
                name: 'get_perception_api_catalog',
                description: 'Return the Perception API catalog (RFC 9727 linkset) pointing to the OpenAPI spec, API documentation, and health endpoint for the Perception REST API at api.perception.to.',
                inputSchema: { type: 'object', properties: {}, additionalProperties: false },
                execute: async () => {
                  const response = await fetch('/.well-known/api-catalog', { headers: { Accept: 'application/linkset+json' } });
                  return response.json();
                }
              },
              {
                name: 'navigate_perception',
                description: 'Navigate the current browser tab to a canonical Perception page. Use this when the user asks to open Data, Systems, Research, Customers, Pricing, documentation, API reference, integrations, or the app.',
                inputSchema: {
                  type: 'object',
                  properties: {
                    destination: {
                      type: 'string',
                      enum: ['home', 'data', 'systems', 'research', 'customers', 'pricing', 'api', 'mcp', 'docs', 'app', 'integrations'],
                      description: 'Which Perception page to open.'
                    }
                  },
                  required: ['destination'],
                  additionalProperties: false
                },
                execute: async ({ destination }) => {
                  const routes = {
                    home: 'https://perception.to/',
                    data: 'https://perception.to/integrations/mcp',
                    systems: 'https://perception.to/systems',
                    research: 'https://perception.to/intelligence',
                    customers: 'https://perception.to/customers',
                    pricing: 'https://perception.to/pricing',
                    api: 'https://perception.to/api',
                    mcp: 'https://perception.to/integrations/mcp',
                    docs: 'https://perception.to/docs',
                    app: 'https://app.perception.to/',
                    integrations: 'https://perception.to/integrations'
                  };
                  const url = routes[destination];
                  if (!url) return { ok: false, error: 'Unknown destination' };
                  window.location.assign(url);
                  return { ok: true, url };
                }
              }
            ]
          });
        } catch (err) {
          // WebMCP is optional — swallow errors so nothing else breaks.
        }
      })();
    </script>

    <!-- Intercom Messenger — lazy-loaded on first interaction (4s idle fallback) to protect page speed -->
    <script>
      (function () {
        if (/^\/(preview|embed)\//.test(location.pathname)) return;
        var APP_ID = 'd0a3oz2y';
        window.intercomSettings = { api_base: 'https://api-iam.intercom.io', app_id: APP_ID };
        var loaded = false;
        function loadIntercom() {
          if (/^\/(preview|embed)\//.test(location.pathname)) return;
          if (loaded) return;
          loaded = true;
          var w = window;
          if (typeof w.Intercom === 'function') {
            w.Intercom('reattach_activator');
            w.Intercom('update', w.intercomSettings);
            return;
          }
          var i = function () { i.c(arguments); };
          i.q = [];
          i.c = function (args) { i.q.push(args); };
          w.Intercom = i;
          var s = document.createElement('script');
          s.async = true;
          s.src = 'https://widget.intercom.io/widget/' + APP_ID;
          document.head.appendChild(s);
        }
        ['pointerdown', 'keydown', 'touchstart', 'scroll'].forEach(function (evt) {
          window.addEventListener(evt, loadIntercom, { once: true, passive: true });
        });
        setTimeout(loadIntercom, 4000);
      })();
    </script>
    <script type="module" crossorigin src="/js/app-BC-WPpz1.js"></script>
    <link rel="preload" crossorigin href="/css/app-KkmJ9ZJ8.css" as="style">
  <link rel="preload" as="font" crossorigin="anonymous" href="/fonts/Geist-Variable.woff2"><link rel="preload" as="font" crossorigin="anonymous" href="/fonts/Geist-VariableItalic.woff2"><link rel="preload" as="font" crossorigin="anonymous" href="/fonts/NectoMono-Regular.woff2"></head>
  <body>
    <noscript>
      
    </noscript>
    <!-- Google Tag Manager (noscript) -->
    <noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-NVDZX38V" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript>
    <!-- End Google Tag Manager (noscript) -->
    <div id="root" data-server-rendered="true"><div class="brand-site min-h-screen bg-background text-foreground"><a href="#main-content" class="sr-only focus:not-sr-only focus:absolute focus:top-4 focus:left-4 focus:z-50 focus:bg-white focus:px-4 focus:py-2 focus:rounded-md focus:shadow-lg focus:text-black">Skip to content</a><script type="application/ld+json">{"@context":"https://schema.org","@type":"WebSite","name":"Perception","alternateName":"Bitcoin Perception","url":"https://perception.to","description":"Perception does research and strategy on digital assets for institutions: what's moving in their market and what it means for their product, strategy and pipeline, backed by a maintained record of 2,800+ sources.","publisher":{"@type":"Organization","name":"Perception","logo":{"@type":"ImageObject","url":"https://perception.to/brand/downloads/v1/perception-logo-ink.png","width":2400,"height":413}},"inLanguage":"en-US"}</script><script type="application/ld+json">{"@context":"https://schema.org","@type":"Organization","name":"Perception","alternateName":"Bitcoin Perception","url":"https://perception.to","logo":"https://perception.to/brand/downloads/v1/perception-logo-ink.png","sameAs":["https://x.com/BTCPerception","https://www.linkedin.com/company/bitcoinperception"],"description":"Perception maintains a 15-year narrative record of the digital asset industry and delivers it through Data and Systems.","foundingDate":"2024","contactPoint":{"@type":"ContactPoint","contactType":"Customer Support","email":"support@perception.to","availableLanguage":["English"]},"address":{"@type":"PostalAddress","addressLocality":"Tallinn","addressCountry":"EE"},"offers":{"@type":"Offer","name":"Research projects and Perception Advisory","description":"Research projects from $2,500 and Perception Advisory from $5,000 a month, with the Perception terminal and 10 seats included.","category":"Narrative Intelligence","url":"https://perception.to/pricing"}}</script><header class="brand-navigation fixed z-50 w-full motion-navigation transform-gpu top-0 translate-y-0 opacity-100 visible"><nav class="brand-nav-surface"><div class="mx-auto max-w-[1440px] h-20 flex items-center justify-between px-6 sm:px-10"><a href="/" class="flex min-h-11 items-center gap-2.5 group shrink-0"><img src="/brand/v1/logo-ink.svg" alt class="h-7 w-7 object-contain"><span class="font-sans font-medium text-[21px] tracking-tight text-slate-900 motion-feedback">Perception</span></a><div class="hidden lg:flex lg:flex-1 lg:justify-center"><nav aria-label="Main" data-orientation="horizontal" dir="ltr" class="relative z-10 flex flex-1 items-center justify-center w-full"><div style="position:relative"><ul data-orientation="horizontal" class="group flex flex-1 list-none items-center justify-center space-x-1" dir="ltr"><li class="relative"><a href="/advisory" class="flex min-h-11 items-center text-[14px] font-sans font-medium text-slate-600 hover:text-blue-600 motion-feedback px-4 py-2">Advisory</a></li><li class="relative"><button id="radix-:Rid:-trigger-radix-:R16id:" data-state="closed" aria-expanded="false" class="group inline-flex h-9 w-max items-center justify-center rounded-md px-4 py-2 motion-feedback focus:outline-none focus-visible:ring-2 focus-visible:ring-blue-600 focus-visible:ring-offset-2 disabled:pointer-events-none disabled:opacity-50 data-[state=open]:text-foreground group min-h-11 bg-transparent font-sans font-medium text-[14px] text-slate-600 hover:text-blue-600 motion-feedback" data-radix-collection-item>Use Cases<!-- --> <svg width="15" height="15" viewBox="0 0 15 15" fill="none" xmlns="http://www.w3.org/2000/svg" class="relative top-[1px] ml-1 h-3 w-3 motion-chevron group-data-[state=open]:rotate-180" aria-hidden="true"><path d="M3.13523 6.15803C3.3241 5.95657 3.64052 5.94637 3.84197 6.13523L7.5 9.56464L11.158 6.13523C11.3595 5.94637 11.6759 5.95657 11.8648 6.15803C12.0536 6.35949 12.0434 6.67591 11.842 6.86477L7.84197 10.6148C7.64964 10.7951 7.35036 10.7951 7.15803 10.6148L3.15803 6.86477C2.95657 6.67591 2.94637 6.35949 3.13523 6.15803Z" fill="currentColor" fill-rule="evenodd" clip-rule="evenodd"/></svg></button></li><li class="relative"><button id="radix-:Rid:-trigger-radix-:R1mid:" data-state="closed" aria-expanded="false" class="group inline-flex h-9 w-max items-center justify-center rounded-md px-4 py-2 motion-feedback focus:outline-none focus-visible:ring-2 focus-visible:ring-blue-600 focus-visible:ring-offset-2 disabled:pointer-events-none disabled:opacity-50 data-[state=open]:text-foreground group min-h-11 bg-transparent font-sans font-medium text-[14px] text-slate-600 hover:text-blue-600 motion-feedback" data-radix-collection-item>Research<!-- --> <svg width="15" height="15" viewBox="0 0 15 15" fill="none" xmlns="http://www.w3.org/2000/svg" class="relative top-[1px] ml-1 h-3 w-3 motion-chevron group-data-[state=open]:rotate-180" aria-hidden="true"><path d="M3.13523 6.15803C3.3241 5.95657 3.64052 5.94637 3.84197 6.13523L7.5 9.56464L11.158 6.13523C11.3595 5.94637 11.6759 5.95657 11.8648 6.15803C12.0536 6.35949 12.0434 6.67591 11.842 6.86477L7.84197 10.6148C7.64964 10.7951 7.35036 10.7951 7.15803 10.6148L3.15803 6.86477C2.95657 6.67591 2.94637 6.35949 3.13523 6.15803Z" fill="currentColor" fill-rule="evenodd" clip-rule="evenodd"/></svg></button></li><li class="relative"><a href="/pricing" class="flex min-h-11 items-center text-[14px] font-sans font-medium text-slate-600 hover:text-blue-600 motion-feedback px-4 py-2">Pricing</a></li></ul></div><div class="absolute left-1/2 top-full flex justify-center -translate-x-1/2"></div></nav></div><div class="hidden lg:flex items-center space-x-4 shrink-0"><a href="https://app.perception.to/auth/sign-in" class="inline-flex min-h-11 items-center text-[14px] font-sans font-medium text-slate-600 hover:text-blue-600 motion-feedback">Platform sign in</a><a href="/advisory#book-a-demo" class="inline-flex items-center justify-center rounded-[4px] h-11 px-5 text-[13px] font-sans font-medium motion-feedback bg-primary hover:bg-primary/90 text-primary-foreground">Book a call with Fernando</a></div><button type="button" class="lg:hidden inline-flex h-11 w-11 items-center justify-center text-slate-700 hover:text-blue-600" aria-expanded="false" aria-controls="mobile-navigation" aria-label="Open menu"><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-menu h-4 w-4"><line x1="4" x2="20" y1="12" y2="12"/><line x1="4" x2="20" y1="6" y2="6"/><line x1="4" x2="20" y1="18" y2="18"/></svg></button></div></nav></header><span role="status" class="sr-only"></span><div><div id="main-content" tabindex="-1" aria-busy="false"><main class="bp-stage home-page"><section class="home-hero" aria-labelledby="home-title"><div class="home-container home-hero-layout"><div class="home-hero-copy"><h1 id="home-title" class="home-headline">Make the right call on digital assets</h1><p class="home-subhead">Research and strategy for banks, asset managers, market infrastructure and digital asset companies.</p><p class="home-intro-copy">We follow your peers and competitors, the institutional holdings and flows that matter to you, and the sales and BD openings in your market.</p><div class="home-hero-actions"><a href="/advisory#book-a-demo" class="home-primary-action">Book a call with Fernando<svg xmlns="http://www.w3.org/2000/svg" width="18" height="18" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-arrow-up-right" aria-hidden="true"><path d="M7 7h10v10"/><path d="M7 17 17 7"/></svg></a><a href="/advisory#market-map" class="home-text-link">See what's in a market map<svg xmlns="http://www.w3.org/2000/svg" width="16" height="16" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-arrow-up-right" aria-hidden="true"><path d="M7 7h10v10"/><path d="M7 17 17 7"/></svg></a></div><p class="home-free-access">Research projects from $2,500. Perception Advisory from $5,000 a month.</p></div><div class="home-hero-art" aria-hidden="true"><div class="brand-artwork brand-artwork--fill " aria-hidden="true"><svg focusable="false" preserveAspectRatio="xMidYMid slice" xmlns="http://www.w3.org/2000/svg" width="1056" height="900" viewBox="72 216 1056 900"><rect width="1200" height="1500" fill="#F7F8FC"/><g transform="translate(72 72) scale(0.13333333333333333)"><path d="M0 0H300V225H75V150H0Z" fill="#111111"/><path d="M75 75H225V150H75Z" fill="#F7F8FC"/><path d="M0 225H75V300H0Z" fill="#111111"/></g><defs><clipPath id="art--R8ct--field"><rect x="72" y="216" width="1056" height="900"/></clipPath><clipPath id="art--R8ct--window"><path d="M72 1000L1128 -56V472L72 1528Z"/></clipPath></defs><g clip-path="url(#art--R8ct--field)"><rect x="72" y="216" width="1056" height="900" fill="#3B46F2"/><path d="M80 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M96 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M112 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M128 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M144 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M160 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M176 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M192 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M208 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M224 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M240 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M256 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M272 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M288 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M304 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M320 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M336 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M352 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M368 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M384 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M400 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M416 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M432 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M448 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M464 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M480 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M496 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M512 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M528 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M544 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M560 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M576 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M592 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M608 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M624 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M640 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M656 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M672 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M688 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M704 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M720 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M736 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M752 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M768 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M784 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M800 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M816 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M832 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M848 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M864 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M880 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M896 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M912 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M928 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M944 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M960 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M976 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M992 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1008 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1024 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1040 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1056 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1072 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1088 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1104 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1120 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1136 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1152 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1168 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1184 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1200 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1216 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1232 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1248 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><path d="M1264 208V1124" stroke="#F7F8FC" stroke-width="5.2"/><g clip-path="url(#art--R8ct--window)"><rect x="72" y="216" width="1056" height="900" fill="#3B46F2"/><g data-art-part="" data-x="0" data-y="12" data-order="0"><path d="M64 208H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 224H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 240H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 256H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 272H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 288H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 304H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 320H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 336H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 352H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 368H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 384H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 400H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 416H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 432H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 448H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 464H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 480H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 496H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 512H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 528H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 544H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 560H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 576H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 592H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 608H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 624H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 640H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 656H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 672H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 688H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 704H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 720H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 736H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 752H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 768H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 784H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 800H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 816H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 832H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 848H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 864H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 880H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 896H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 912H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 928H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 944H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 960H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 976H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 992H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1008H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1024H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1040H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1056H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1072H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1088H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1104H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1120H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1136H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1152H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1168H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1184H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1200H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1216H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1232H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1248H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1264H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1280H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1296H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1312H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1328H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1344H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1360H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1376H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1392H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1408H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1424H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1440H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1456H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1472H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1488H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1504H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1520H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1536H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1552H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1568H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1584H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1600H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1616H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1632H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1648H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1664H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1680H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1696H1136" stroke="#F7F8FC" stroke-width="5.2"/><path d="M64 1712H1136" stroke="#F7F8FC" stroke-width="5.2"/></g></g></g></svg>
</div></div></div></section><div class="home-logo-walls home-container"><section class="home-social-row" aria-labelledby="cited-research-title"><div class="home-social-row-heading"><h2 id="cited-research-title">Perception data cited by</h2><a href="/press" class="home-text-link">Press archive<svg xmlns="http://www.w3.org/2000/svg" width="14" height="14" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-arrow-up-right" aria-hidden="true"><path d="M7 7h10v10"/><path d="M7 17 17 7"/></svg></a></div><ul class="home-social-logos" data-press="true"><li><a href="https://cointelegraph.com/news/bitcoin-lacked-coverage-mass-media-q2-report" aria-label="Read Cointelegraph’s mention of Perception research, July 2025" data-logo="Cointelegraph" target="_blank" rel="noopener noreferrer"><span class="home-social-logo-art"><img src="/logos/Cointelegraph Logo.png" alt="Cointelegraph" loading="lazy" width="180" height="72"></span></a></li><li><a href="https://www.coindesk.com/markets/2026/01/05/asia-morning-briefing-data-shows-legacy-media-took-a-more-balanced-view-of-bitcoin-in-2025" aria-label="Read CoinDesk’s mention of Perception research, January 2026" data-logo="CoinDesk" target="_blank" rel="noopener noreferrer"><span class="home-social-logo-art"><img src="/logos/coindesk-logo.png" alt="CoinDesk" loading="lazy" width="180" height="72"></span></a></li><li><a href="https://bitcoinmagazine.com/culture/left-leaning-outlets-amplify-their-anti-bitcoin-bias-following-trumps-endorsement-" aria-label="Read the Bitcoin Magazine contributor article using Perception research, June 2024" data-logo="Bitcoin Magazine" target="_blank" rel="noopener noreferrer"><span class="home-social-logo-art"><img src="/logos/bitcoin-magazine-color.png" alt="Bitcoin Magazine" loading="lazy" width="180" height="72"></span></a></li><li><a href="https://web.archive.org/web/20240904132826/https://www.forbes.com/sites/digital-assets/2024/09/04/bbc-bitcoin-coverage-raises-concern-over-its-journalism-and-trust/" aria-label="Read the archived Forbes article, September 2024" data-logo="Forbes" target="_blank" rel="noopener noreferrer"><span class="home-social-logo-art"><img src="/logos/forbes-color.png" alt="Forbes" loading="lazy" width="180" height="72"></span></a></li></ul></section></div><section id="problem" class="home-section home-context-problem" aria-labelledby="problem-title"><div class="home-container"><div class="home-context-heading"><h2 id="problem-title">Your peers move every week</h2><p>They launch, file, hire and talk across news, filings, earnings calls, podcasts and posts. We read 2,800+ sources and pull out what touches your product, strategy and pipeline, with a link to every source.</p></div></div></section><section id="who-its-for" class="home-section" aria-labelledby="who-its-for-title"><div class="home-container"><div class="home-section-intro home-section-intro-wide"><p class="home-eyebrow">Who it's for</p><h2 id="who-its-for-title">For the teams taking your firm into digital assets</h2><p>Heads of digital asset business lines, strategy, product, BD, research, IR and marketing at banks and private banks, asset and wealth managers, ETF issuers, payment companies, insurers, market infrastructure, and established digital asset companies.</p></div><ul class="home-team-grid"><li><h3>Digital asset business line</h3><p>Which of our peers are building what we're building, and how far along are they?</p></li><li><h3>Strategy</h3><p>Which of our peers made a move in digital assets this quarter, and what did they launch?</p></li><li><h3>Product</h3><p>Which digital asset products are competitors bringing to clients, from ETFs to custody to payments?</p></li><li><h3>BD and sales</h3><p>Which institutions just added digital asset exposure, and who do we call first?</p></li><li><h3>Research</h3><p>Where are institutional holdings and flows moving, and why?</p></li><li><h3>Marketing and go-to-market</h3><p>What are our peers saying about digital assets, and which story is ours to tell?</p></li></ul></div></section><section id="work-with-us" class="home-section home-offers" aria-labelledby="work-with-us-title"><div class="home-container"><div class="home-section-heading"><div><p class="home-eyebrow">How to work with us</p><h2 id="work-with-us-title">Start with one project</h2><p class="home-offers-intro">Every piece arrives as a report or an email brief, so your team reviews it the way it reviews any research provider.</p></div></div><ol class="home-offer-list"><li><span class="home-offer-step" aria-hidden="true">01</span><h3>Monthly research</h3><p class="home-offer-price">Free</p><div class="home-offer-line"><p>Once a month we publish what we found in the data.</p><form novalidate class="w-full mt-4 max-w-[440px]"><div class="flex gap-2 flex-col sm:flex-row"><label for=":R2gpct:" class="sr-only">Email address</label><input id=":R2gpct:" type="email" name="email" autocomplete="email" inputmode="email" required placeholder="you@company.com" aria-invalid="false" class="h-11 min-w-0 flex-1 rounded-[4px] border px-3 text-sm motion-feedback focus-visible:outline-none focus-visible:ring-2 focus-visible:ring-blue-600 focus-visible:ring-offset-2 border-slate-300 bg-white text-slate-900 placeholder:text-slate-400" value><button class="inline-flex min-w-11 items-center justify-center whitespace-nowrap rounded-[4px] font-sans font-medium motion-feedback focus-visible:outline-none focus-visible:ring-2 focus-visible:ring-blue-600 focus-visible:ring-offset-2 disabled:pointer-events-none disabled:opacity-50 bg-slate-950 text-white hover:bg-slate-800 h-11 px-6 text-sm shrink-0" type="submit">Subscribe</button></div><p id=":R2gpctH1:" aria-live="polite" class="text-sm text-red-700"></p></form></div></li><li><span class="home-offer-step" aria-hidden="true">02</span><h3>Private market map</h3><p class="home-offer-price">$2,500</p><div class="home-offer-line"><p>Your peers, the holdings and flows that matter, sales and BD signals, and three recommendations on what to do next. Built for your product, sales or marketing team.</p></div></li><li><span class="home-offer-step" aria-hidden="true">02</span><h3>Co-branded report</h3><p class="home-offer-price">$5,000</p><div class="home-offer-line"><p>A published report built on your data and Perception's record. We do the research and write the content, and you put it in front of your audience.</p></div></li><li><span class="home-offer-step" aria-hidden="true">03</span><h3>Perception Advisory</h3><p class="home-offer-price">From $5,000 a month</p><div class="home-offer-line"><p>Research, strategy and content every month: trackers, a weekly brief on what it means for you, a monthly strategy call, content built on the research for your own channels, and <a href="/platform" class="font-medium text-slate-900 underline underline-offset-4 hover:text-[var(--brand-blue)]">the terminal</a> for your team. It starts after a project.</p></div></li></ol><div class="home-offers-action"><a href="/advisory#book-a-demo" class="home-primary-action">Book a call with Fernando</a></div></div></section><div class="home-section home-sample-work"><div class="home-container"><section id="sample-work" aria-labelledby="sample-work-title" class="max-w-4xl scroll-mt-28 mx-0"><div><p class="font-mono text-xs uppercase tracking-[0.25em] text-slate-500">Sample work</p><h2 id="sample-work-title" class="mt-4 text-3xl font-medium tracking-[-0.03em] text-slate-900 sm:text-4xl">We wrote the media section of Epoch VC's Bitcoin ecosystem report</h2><p class="mt-5 text-base leading-relaxed text-slate-600 sm:text-lg">Epoch's 2026 annual report on the Bitcoin ecosystem carries our "Bitcoin in the Media" section: 356,423 data points from 653 sources, 1 January to 30 December 2025.</p><a href="https://epochvc.io/pdf/Epoch-Bitcoin-Ecosystem-Report-2026.pdf" target="_blank" rel="noopener noreferrer" class="mt-6 inline-flex min-h-11 items-center gap-1.5 text-base font-medium text-[var(--brand-blue)] underline-offset-4 hover:underline">Read the report<svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-arrow-up-right h-4 w-4" aria-hidden="true"><path d="M7 7h10v10"/><path d="M7 17 17 7"/></svg></a></div></section><p class="home-sample-proof">We also run a monthly research desk for a US asset manager.</p></div></div><section id="sources" class="home-section home-record" aria-labelledby="record-title"><div class="home-container home-record-layout"><div class="home-section-intro"><h2 id="record-title">The public record, connected</h2><p>Follow a story across publications, company statements, and the history that gives it context.</p><a href="/features/sources#source-flow" class="home-text-link">See how sources connect<svg xmlns="http://www.w3.org/2000/svg" width="16" height="16" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-arrow-up-right" aria-hidden="true"><path d="M7 7h10v10"/><path d="M7 17 17 7"/></svg></a></div><dl class="home-record-details"><div><dt>Across the industry</dt><dd>Media mentions, podcasts, company disclosures, regulatory filings, earnings calls, and public conversations.</dd></div><div><dt>History back to <!-- -->2011</dt><dd>Compare today’s developments with earlier mentions. Available history varies by source.</dd></div><div><dt>Evidence you can inspect</dt><dd>Follow citations to the original material and check the dates, wording, and context.</dd></div></dl></div></section><section id="faq" class="home-section home-faq" aria-labelledby="faq-title"><script type="application/ld+json">{"@context":"https://schema.org","@type":"FAQPage","mainEntity":[{"@type":"Question","name":"What does it cost?","acceptedAnswer":{"@type":"Answer","text":"A private market map is $2,500. A co-branded report is $5,000. Perception Advisory starts at $5,000 a month with a 3-month minimum, then runs month to month with 30 days' notice, and includes the terminal for your team."}},{"@type":"Question","name":"Why start with a project?","acceptedAnswer":{"@type":"Answer","text":"You see the research on your own market before you commit to anything monthly. If you sign up for Advisory within 14 days of a market map, the $2,500 counts toward your first month."}},{"@type":"Question","name":"Does it need IT or compliance sign-off?","acceptedAnswer":{"@type":"Answer","text":"The research arrives as a report and a weekly email brief, so your team reviews it the way it reviews any research provider. We host everything, outside your systems. Teams that want the live desk inside their own network can add an install."}},{"@type":"Question","name":"Who does the research?","acceptedAnswer":{"@type":"Answer","text":"Fernando Nikolic, Perception's founder. He spent four years as VP of Marketing at Blockstream, a bitcoin infrastructure company. He leads every project and writes the recommendations himself."}},{"@type":"Question","name":"What does Advisory include?","acceptedAnswer":{"@type":"Answer","text":"Research, strategy and content: a peer and competitor tracker, an institutional holdings and flows tracker, sales and BD signals, a weekly brief on what it means for you, one strategy call a month, one prep pack a quarter, content built on the research for your own channels, a live desk, and the terminal for your team, with 10 seats."}},{"@type":"Question","name":"What is the terminal?","acceptedAnswer":{"@type":"Answer","text":"The app our research runs on. It comes with Advisory, so your team can search the same record we use, with 10 seats."}},{"@type":"Question","name":"Do you work with digital asset companies?","acceptedAnswer":{"@type":"Answer","text":"Yes, on the same terms. It starts with a market map, and Advisory follows if the research is useful to you."}},{"@type":"Question","name":"Is anything free?","acceptedAnswer":{"@type":"Answer","text":"The monthly research email. Join over 1,000 readers."}}]}</script><div class="home-container home-faq-layout"><h2 id="faq-title">Frequently asked questions</h2><div class="home-faq-list"><details><summary>What does it cost?<span aria-hidden="true">+</span></summary><div><p>A private market map is $2,500. A co-branded report is $5,000. Perception Advisory starts at $5,000 a month with a 3-month minimum, then runs month to month with 30 days' notice, and includes <a href="/platform" class="font-medium text-slate-900 underline underline-offset-4 hover:text-[var(--brand-blue)]">the terminal</a> for your team.</p></div></details><details><summary>Why start with a project?<span aria-hidden="true">+</span></summary><div><p>You see the research on your own market before you commit to anything monthly. If you sign up for Advisory within 14 days of a market map, the $2,500 counts toward your first month.</p></div></details><details><summary>Does it need IT or compliance sign-off?<span aria-hidden="true">+</span></summary><div><p>The research arrives as a report and a weekly email brief, so your team reviews it the way it reviews any research provider. We host everything, outside your systems. Teams that want the live desk inside their own network can add an install.</p></div></details><details><summary>Who does the research?<span aria-hidden="true">+</span></summary><div><p>Fernando Nikolic, Perception's founder. He spent four years as VP of Marketing at Blockstream, a bitcoin infrastructure company. He leads every project and writes the recommendations himself.</p></div></details><details><summary>What does Advisory include?<span aria-hidden="true">+</span></summary><div><p>Research, strategy and content: a peer and competitor tracker, an institutional holdings and flows tracker, sales and BD signals, a weekly brief on what it means for you, one strategy call a month, one prep pack a quarter, content built on the research for your own channels, a live desk, and <a href="/platform" class="font-medium text-slate-900 underline underline-offset-4 hover:text-[var(--brand-blue)]">the terminal</a> for your team, with 10 seats.</p></div></details><details><summary>What is the terminal?<span aria-hidden="true">+</span></summary><div><p>The app our research runs on. It comes with Advisory, so your team can search the same record we use, with 10 seats.</p><a class="home-text-link" href="/platform">See the terminal</a></div></details><details><summary>Do you work with digital asset companies?<span aria-hidden="true">+</span></summary><div><p>Yes, on the same terms. It starts with a market map, and Advisory follows if the research is useful to you.</p></div></details><details><summary>Is anything free?<span aria-hidden="true">+</span></summary><div><p>The monthly research email. Join over 1,000 readers.</p></div></details></div></div></section><section class="home-page home-final-cta" aria-labelledby="final-title"><div class="home-container home-final-layout"><div><h2 id="final-title">Tell us about your market</h2><p class="home-final-body">Answer a few questions, pick a time, and Fernando shows you what a market map of your market would cover.</p></div><div><a href="/advisory#book-a-demo" class="home-primary-action">Book a call with Fernando<svg xmlns="http://www.w3.org/2000/svg" width="18" height="18" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-arrow-up-right" aria-hidden="true"><path d="M7 7h10v10"/><path d="M7 17 17 7"/></svg></a></div></div></section></main></div></div><footer class="brand-footer" data-dark-section="true"><div class="brand-footer-inner"><div class="brand-footer-heading"><a href="/" class="inline-flex items-center gap-3"><img src="/brand/v1/logo-paper.svg" alt width="32" height="32" class="h-8 w-8 object-contain"><span>Perception</span></a><p>Research and strategy on digital assets.</p></div><div class="brand-footer-links"><div><h3>Connect</h3><ul><li><a href="/integrations/mcp">MCP connection</a></li><li><a href="/api">REST API</a></li><li><a href="/docs">Documentation</a></li><li><a href="/product">Product capabilities</a></li><li><a href="/prompts">Prompt library</a></li><li><a href="/pricing">Pricing</a></li></ul></div><div><h3>Use Perception</h3><ul><li><a href="/platform">Platform</a></li><li><a href="/use-cases/pr-communications">Communications</a></li><li><a href="/use-cases/research-analysts">Research</a></li><li><a href="/use-cases/ir-communications">Investor relations</a></li><li><a href="/use-cases">All use cases</a></li><li><a href="/advisory">Perception Advisory</a></li></ul></div><div><h3>Public data</h3><ul><li><a href="/bitcoin-market-sentiment">Perception Index</a></li><li><a href="/bitcoin-fear-greed-index">Fear &amp; Greed comparison</a></li><li><a href="/narrative-dominance">Narrative Dominance</a></li><li><a href="/bitcoin-treasuries">Bitcoin treasuries</a></li><li><a href="/bitcoin-etfs">Bitcoin ETF ownership</a></li><li><a href="/crypto-super-pacs">Digital asset Super PACs</a></li><li><a href="/bitcoin-prediction-markets">Bitcoin prediction markets</a></li><li><a href="/crypto-twitter-sentiment">Bulls and bears on X</a></li><li><a href="/bitcoin-bad-takes">Horrible Bitcoin takes</a></li><li><a href="/bitcoin-quiz">Daily quiz</a></li><li><a href="/intelligence">All public data</a></li></ul></div><div><h3>Research</h3><ul><li><a href="/bitcoin-media-research">Media research</a></li><li><a href="/track-record">Track record</a></li><li><a href="/methodology">Methodology</a></li><li><a href="/features/sources">Sources</a></li><li><a href="/learn">Learn</a></li><li><a href="/alternatives">Compare tools</a></li></ul></div><div><h3>Company</h3><ul><li><a href="/customers">Customer stories</a></li><li><a href="/about">About</a></li><li><a href="/press">Press</a></li><li><a href="/brand">Brand gallery</a></li><li><a href="/support">Support</a></li></ul></div></div><div class="brand-footer-bottom"><div class="brand-footer-newsletter"><h3>Research from Perception</h3><p>Monthly research on what's moving in digital assets. Join <!-- -->over 1,000<!-- --> readers.</p><form novalidate class="w-full max-w-[440px]"><div class="flex gap-2 flex-col sm:flex-row"><label for=":R3f1:" class="sr-only">Email address</label><input id=":R3f1:" type="email" name="email" autocomplete="email" inputmode="email" required placeholder="you@company.com" aria-invalid="false" class="h-11 min-w-0 flex-1 rounded-[4px] border px-3 text-sm motion-feedback focus-visible:outline-none focus-visible:ring-2 focus-visible:ring-blue-600 focus-visible:ring-offset-2 border-slate-600 bg-transparent text-white placeholder:text-slate-400 focus-visible:ring-offset-slate-950" value><button class="inline-flex min-w-11 items-center justify-center whitespace-nowrap rounded-[4px] font-sans font-medium motion-feedback focus-visible:outline-none focus-visible:ring-2 focus-visible:ring-blue-600 focus-visible:ring-offset-2 disabled:pointer-events-none disabled:opacity-50 bg-white text-slate-950 hover:bg-slate-200 h-11 px-6 text-sm shrink-0" type="submit">Subscribe</button></div><p id=":R3f1H1:" aria-live="polite" class="text-sm text-red-300"></p></form></div><div class="brand-footer-legal"><div class="flex space-x-4"><a href="https://x.com/BTCPerception" target="_blank" rel="noopener noreferrer" aria-label="X (Twitter)" class="inline-flex items-center justify-center whitespace-nowrap rounded-[4px] text-sm font-medium transition-colors focus-visible:outline-none focus-visible:ring-1 focus-visible:ring-ring disabled:pointer-events-none disabled:opacity-50 h-11 w-11 text-slate-400 hover:text-white hover:bg-white/10 motion-safe:[@media(hover:hover)_and_(pointer:fine)]:hover:scale-110 motion-page-feedback duration-200"><svg viewBox="0 0 24 24" class="h-4 w-4 fill-current"><path d="M18.244 2.25h3.308l-7.227 8.26 8.502 11.24H16.17l-5.214-6.817L4.99 21.75H1.68l7.73-8.835L1.254 2.25H8.08l4.713 6.231zm-1.161 17.52h1.833L7.084 4.126H5.117z"/></svg></a><a href="https://www.linkedin.com/company/bitcoinperception/" target="_blank" rel="noopener noreferrer" aria-label="LinkedIn" class="inline-flex items-center justify-center whitespace-nowrap rounded-[4px] text-sm font-medium transition-colors focus-visible:outline-none focus-visible:ring-1 focus-visible:ring-ring disabled:pointer-events-none disabled:opacity-50 h-11 w-11 text-slate-400 hover:text-white hover:bg-white/10 motion-safe:[@media(hover:hover)_and_(pointer:fine)]:hover:scale-110 motion-page-feedback duration-200"><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-linkedin h-4 w-4"><path d="M16 8a6 6 0 0 1 6 6v7h-4v-7a2 2 0 0 0-2-2 2 2 0 0 0-2 2v7h-4v-7a6 6 0 0 1 6-6z"/><rect width="4" height="12" x="2" y="9"/><circle cx="4" cy="4" r="2"/></svg></a></div><p>© <!-- -->2026<!-- --> Perception</p><div><a href="/privacy">Privacy</a><a href="/terms">Terms</a></div></div></div></div></footer><section aria-label="Notifications alt+T" tabindex="-1" aria-live="polite" aria-relevant="additions text" aria-atomic="false"></section></div><script>window.__staticRouterHydrationData = JSON.parse("{\"loaderData\":{\"2\":null,\"2-0\":null},\"actionData\":null,\"errors\":null}");</script></div>
<script>window.__VITE_REACT_SSG_HASH__ = '31enw1yh3y'</script>
  

<link rel="stylesheet" crossorigin crossorigin href="/css/app-KkmJ9ZJ8.css"></body></html>