Weekly DeFi Rabbit Hole by zj.valz
Welcome to the weekly 🐰 hole (6 August 23) of liquidity movements & DeFi analysis, where we uncover key trends and insights into the top protocols and hidden gems.
🐰 Contents:
- Stablecoin flows
- Smart Money Movement
- Top L1/L2 Financials
- Top DAPP Financials
- Movement Analysis
- TLDR
1. Stablecoin flows:
Total Stablecoin MCAP = 122.65bil, with -0.80% weekly change.
Top 10 Chain (In terms of Stables Mcap)
Top inflows:
- Bittorrent
- Kava
- Mixin
- Boba
- Hedera
Top outflows:
- Cronos
- Conflux
- Arbitrum Nova
- Waves
- Polygon zkEVM
2. Smart Money Movement:
Cr: @ozfrox
Top Smart money inflows (including stablecoins):
- USDC
- Wrapped ETH
- Dai
- MIM
- USDC (Arbitrum)
Top Smart money outflows (including stablecoins):
- USDT
- stETH
- wstETH
- LUSD
- Dai (Arbitrum)
Top Smart money inflows (excluding stablecoins):
- Wrapped ETH
- Coinbase Wrapped Staked ETH
- pTokens TLOS
- rETH
- HarryPotterObamaSonic10Inu
Top Smart money outflows (excluding stablecoins):
- stETH
- wstETH
- Pepe
- Yearn CRV
- Wrapped ETH (Polygon)
3. Top L1/L2 Financials:
Fees-Generated
- ETH
- BTC
- BNB
- Arbitrum
- Optimism
Revenue
- ETH
- Tron
- Base
- BSC
- Optimism
DAUs
- Tron
- BSC
- BTC
- Polygon
- ETH
Active Developers
- ETH
- Polkadot
- Cosmos
- Solana
- BTC
Code Commits
- ETH
- Polkadot
- Solana
- BTC
- Cosmos
4. Top DAPP Financials:
Fees-Generated
- Lido
- Uniswap
- AAVE
- PancakeSwap
- MakerDAO
Revenue
- AAVE
- MakerDAO
- Lido
- PancakeSwap
- Velodrome
P/F Ratio
Relative valuation of protocols (Lower the no. the “better”)
- El Dorado Exchange
- Equilibre
- Solarbeam
- Mummy Finance
- SpookySwap
P/S ratio
FDV Mcap/Annualized Revenue (Take this metric with a pinch of salt as revenue figs used could be annualized and not actual revenues earned)
- Equilibre
- El Dorado Exchange
- Level Finance
- X2Y2
- Stargate
Holders Revenue - Cumulative revenue attributable to holders 24 Hours
- Conves Finance
- Velodrome
- PancakeSwap
- Radiant
- Synthetix
DAUs - Daily
- Pancakeswap
- Uniswap
- Stargate
- 0x
- Metamask
Trending Applications
- Gnosis
- Curvefi
- Mintfun
- Secondlive
- Gnosis
Raises - Recent funding rounds
- DBX
- Sleepless AI
- AltLayer
- Kiza Finance
- KiloEx
5. Movement Analysis:
Stablecoin flows:
- Total stablecoin market cap remain relatively flat this week at -0.80%.
- Bittorrent, Kava and Mixin saw the largest stablecoin inflows.
- Cronos, Conflux, Arbitrum Nova saw the largest stablecoin outflows.
Smart Money Movement:
- Smart Money is current relatively risk-on with increasing exposure into Alts.
- HarryPotterObamaSonic10Inu or $BITCOIN continues to Smart Money exposure.
- A few notable Alt purchases this week are 0x, Rollbit and Conic.
- A few notable Alt disposal this week are Pepe, Yearn and Rebase.
L1/L2 movement:
- Base L2 is raking in huge fees following the shitcoin season that took the chain by storm this week. This week’s revenue is 3x higher than Arbitrum and Optimism.
DAPP movements:
- MakerDAO continue to rake in revenue as they continue to expand into the RWA sector.
- Velodrome continues to rake in revenue as users are attracted by the upcoming BASE launch of Aerodrome and token airdrop to veVELO holders.
- Alpha drop by @apes_prologue
6. TLDR:
- Opportunities continue to present itself in RWA and Shitcoin Sectors as well as Base L2.
- Do keep an eye out on GMX V2, Lybra V2 and Frax V3 launch which could drive users and native token appreciation.
P.s. I may have positions in the projects discussed in this article. Please note that this article is not intended as financial advice, and I encourage readers to conduct their own due diligence and ape responsibly.
Conclusion
That’s it Anon, hope you enjoyed the 🐰hole this week.
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