Weekly DeFi Rabbit Hole by zj.valz
Welcome to the weekly š° hole (16 July 23) of liquidity movements & DeFi analysis, where we uncover key trends and insights into the top protocols and hidden gems.
š° Contents:
- Stablecoin flows
- Smart Money Movement
- Top L1/L2 Financials
- Top DAPP Financials
- Movement Analysis
- TLDR
1. Stablecoin Flows
Total Stablecoin MCAP = 127.20 bil, with -0.2% weekly change.
Top 10 Chain (In terms of Stables Mcap):
Top inflows:
- Terra Classic
- Kava
- Mixin
- StarkNet
- Gnosis
Top outflows:
- Waves
- smartBCH
- Algorand
- Karura
- Hedera
2. Smart Money Movement
Cr:Ā @ozfrox
Top Smart money inflows (including stablecoins):
- USDT
- eUSD
- wstETH
- Pancakeswap
- USDT (Arbitrum)
Top Smart money outflows (including stablecoins):
- USDC
- Dai
- Coinbase Wrapped Staked ETH
- stETH
- Wrapped ETH
Top Smart money inflows (excluding stablecoins):
- wstETH
- Pancakeswap
- rETH
- Pepe
- GMX
Top Smart money outflows (excluding stablecoins):
- Coinbase Wrapped staked ETH
- stETH
- Wrapped ETH
- Wrapped ETH (Polygon)
- Strike
3. Top L1/L2 Financials
Fees-Generated
- ETH
- BTC
- BNB
- Arbitrum
- Optimism
Revenue
- ETH
- Tron
- Arbitrum
- BSC
- Avalanche
DAUs
- Tron
- BNB
- BTC
- Polygon
- ETH
Active Developers
- ETH
- Polkadot
- Cosmos
- Solana
- BTC
Code Commits
- ETH
- Polkadot
- Solana
- Cosmos
- BTC
4. Top DAPP Financials
Fees-Generated
- Lido
- Uniswap
- Pancakeswap
- MakerDAO
- GMX
Revenue
- MakerDAO
- Lido
- Convex Finance
- PancakeSwap
- Synthetix
P/F Ratio
Relative valuation of protocols (Lower the no. the ābetterā)
- El Dorado Exchange
- UniDex
- Mummy Finance
- Level Protocol
- Solarbeam
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)
- El Dorado Exchange
- UniDex
- Level Finance
- Velodrome
- X2Y2
Holders Revenue
Cumulative revenue attributable to holders 24 Hours
- Synthetix
- Pancakeswap
- Curve Finance
- Velodrome
- Radiant
DAUs - Daily
- Pancakeswap
- Uniswap
- Stargate
- 0x
- Metamask
Trending Applications
- Opensea
- Lifeformcartoon
- Dexalot
- Rocketpool
- Layer3
Raises - Recent funding rounds
- Ion Protocol
- Xterio
- Artela
- Aark Digital
- Sound
5. Movement Analysis
Stablecoin flows:
- Total stablecoin market cap remained flat this week at -0.03% decrease.
- Terra Classic, Kava and Mixin saw the largest stablecoin inflows.
- Waves, SmartBCH, Algorand saw the largest stablecoin outflows.
Smart Money Movement:
- There is a notable increase in Alts purchased by Smart Money post-XRP lawsuit partial win. Some notable purchase includes Pancakeswap, Pepe, GMX, Frax and Rollbit.
L1/L2 movement:
- L2s remains the hotbed of Defi activity with Arbitrum continuing to hold its dominance over on-chain transactions.
- It is notable to see Solana catching up with a 145% increase in Dex Volume.
DAPP movements:
- GMX fees increased significantly with the imminent launch of GMX V2, which promises lower fees, low latency oracles and more trading pairs.
- Level Financeās revenue exceeded GMX by USD50K this week.
- Alpha drop byĀ @apes_prologue
6. TLDR
- Market sentiment has changed, and it will be foolish to adopt a bearish outlook when inflation, recession and regulatory risk have been reduced.
- While there may not be new liquidity entering the ecosystem, excess sidelined liquidity is finally reentering various crypto positions as seen from the increased stablecoin inflows into exchanges.
- As explained by an Anon on 4chan, welcome to the start of the golden Bullrun degens.
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.
Thatās it Anon, hope you enjoyed the š°hole this week.
Follow meĀ @zec_jayĀ on Twitter or subscribe for more weekly deep dives.
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