Weekly DeFi Rabbit Hole by zj.valz
Welcome to the weekly 🐰 hole (23 July 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 = 122.15 bil, with -3.9% weekly change.
Top 10 Chain (In terms of Stables Mcap):
Top inflows:
- Liquidchain
- Hedera
- StarkNet
- Terra Classic
- Kava
Top outflows:
- Ontology
- Conflux
- Ergo
- OKExChain
- Crab
2. Smart Money Movement:
Cr: @ozfrox
Top Smart money inflows (including stablecoins):
- USDC
- DAI
- aETHc
- Rollbit
- Coinbase Wrapped Staked ETH
Top Smart money outflows (including stablecoins):
- USDT
- Curve.fi USD Stablecoin
- Wrapped ETH
- stETH
- Pepe
Top Smart money inflows (excluding stablecoins):
- aETHc
- Rollbit
- Coinbase Wrapped Staked ETH
- Conic Finance
- Stafi
Top Smart money outflows (excluding stablecoins):
- Wrapped ETH
- stETH
- Pepe
- Wrapped ETH (Arbitrum)
- Unibot
3. Top L1/L2 Financials:
Fees-Generated
- ETH
- BNB
- Arbitrum
- Optimism
- Solana
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
- Convex Finance
Revenue
- MakerDAO
- Lido
- Convex Finance
- Maestro
- Pancakeswap
P/F Ratio
Relative valuation of protocols (Lower the no. the “better”)
- El Dorado Exchange
- Mummy Finance
- Solarbeam
- Level Protocol
- 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)
- El Dorado Exchange
- Level Finance
- Velodrome
- X2Y2
- Equilibre
Holders Revenue - Cumulative revenue attributable to holders 24 Hours
- Convex Finance
- Pancakeswap
- GMX
- Radiant
- Curve Finance
DAUs - Daily
- Pancakeswap
- Uniswap
- Stargate
- 0x
- Metamask
Trending Applications
- Opensea
- Zora
- Element Market
- Guildxyz
- Bitdao
Raises - Recent funding rounds
- Over Protocol
- Side Protocol
- Radiant
- Interface
- Cosmic Wire
5. Movement Analysis:
Stablecoin flows:
- Total stablecoin market cap decreased by 3.9% this week.
- Liquid Chain, Hedera and Starknet saw the largest stablecoin inflows.
- Ontology, Conflux, Ergo saw the largest stablecoin outflows.
Smart Money Movement:
- There is a risk-off sentiment amongst Smart Money this week with a notable increase in Stablecoin Inflow and Alts Outflow.
- Alts like Pepe, Unibot, HarryPotterObamaSonic10Inu, are being sold off by Smart Money as the bullish sentiment slows.
- A few notable Alt purchases this week are Rollbit, Conic and Stafi.
L1/L2 movement:
- A new L2, Mantle Protocol, launched earlier this week reaching a TVL of USD 1.81 mil to date.
- Zk protocols continue to attract users with zkSync Era, Polygon zkEVM and Starknet having the highest increase in Dex Volumes over the last 3 months compared to optimistic L2s/ Alt-L1s.
DAPP movements:
- Telegram/Discord Bot is the top narrative this week with Unibot hitting 100mil Marketcap.
- Maestro and Unibot continue to rake in Fees and Revenue this week as usage of these bots increased exponentially.
- Alpha drop by @apes_prologue
6. TLDR:
- Overall slight pullback across the market as the bullish sentiment subsides.
- Shitcoin season is in full swing with Bot & Animal tokens getting crazy high valuations with the success of Unibot & HamstersGG.
- Here is sound advice by @ZoomerOracle, for those who want to learn how to navigate the irrational crypto market.
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.
