Weekly DeFi Rabbit Hole by zj.valz
Welcome to the weekly 🐰 hole 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 = 122.93 bil, with 0.42% weekly change.
Top 10 Chain (In terms of Stables Mcap)
Top inflows:
- MultiversX
- Osmosis
- Hedera
- Waves
- Secret
Top outflows:
- Fuse
- Conflux
- Polygon zkEVM
- Wanchain
- ThunderCore
2. Smart Money Movement:
Top Smart money inflows (including stablecoins):
- Wrapped ETH
- USDT
- Meme
- ILV
- frxETH
Top Smart money outflows (including stablecoins):
- Dai
- Token
- Rollbit
- Frax
- Prisma
Top Smart money inflows (excluding stablecoins):
- Wrapped ETH
- Meme
- ILV
- frxETH
- AMO
Top Smart money outflows (excluding stablecoins):
- Token
- Rollbit
- Frax
- Prisma
- XUG
3. Top L1/L2 Financials:
Fees-Generated
- ETH
- Tron
- BTC
- BSC
- zkSync Era
Revenue
- ETH
- Tron
- Arbitrum
- zkSync Era
- Solana
DAUs
- Tron
- BSC
- 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
- MakerDao
- PancakeSwap
- AAVE
Revenue
- MakerDAO
- Lido
- MetaMask
- OpenSea
- PancakeSwap
P/F Ratio
Relative valuation of protocols (Lower the no. the “better”)
- Level Finance
- ApeX Protocol
- Mummy Finance
- HMX
- GND Protocol
Holders Revenue - Cumulative revenue attributable to holders 24 Hours
- Curve
- PancakeSwap
- Radiant
- Synthetix
- GMX
DAUs - Daily
- Pancakeswap
- Uniswap
- Osmosis
- 0x
- MetaMask
Trending Applications
- Safemoon V2
- Oneinch
- Xen
- Weth
- Gnosis
Trending Categories
- L2 (Arb)
- Infrastructure (Polygon)
- Social (Polygon)
- NFT Apps (OP)
- Tokens (Arb)
Raises - Recent funding rounds
5. Movement Analysis:
Stablecoin flows:
- Total stablecoin market cap remains flat this week despite improvement in Crypto market sentiments with a slight increase of 0.42%.
- MultiversX, Osmosis, and Hedera saw the most significant stablecoin inflows.
- Fuse, Conflux, and Polygon zkEVM saw the most significant stablecoin outflows.
Smart Money Movement:
- Smart Money has an aggregated portfolio allocation of 42% ETH/ETH Variant, 41% Alts, and 16% Stablecoin this week.
- Meme, ILV, and AMO saw the largest Smart Money inflow.
- Token, Rollbit, and Prisma saw the largest Smart Money outflow.
- Smart Money’s portfolio allocation remains unchanged, however, capital seems to be flowing between protocols that are able to capture significant market attention such as Meme and Amo.
- Prisma continues to trend downwards as whales farm it to death.
L1/L2 movement:
- Market sentiment continued to remain strong after the FED announced its decision to keep interest rates steady at current rates; crypto benefited from the risk-on sentiments with BTC and ETH maintaining their strength at 35K and 1.9k respectively.
- Solana outperformed all other L1s this week despite the start of the FTX liquidation process, and momentum for the chain remains strong.
- Arbitrum has the highest active address this week, and the rising tide seems to be lifting all boats with major Arbitrum tokens (e.g. Grail, Lode, Winr, etc) seeing positive price action.
DAPP movements:
- DApps have performed exceptionally well in the current bullish market conditions, with several DApps outperforming Alt L1/L2s. This aligns with recent funding rounds, indicating that market participants are increasingly more interested in consumer-centric protocols compared to blockchains.
- Friend.tech drops off the DApp ranking this week as attention shifts back to on-chain tokens and new launches. The majority of value this week was captured by Defi behemoths like MakerDao, Lido, and MetaMask.
- Alpha drop by @apes_prologue
- Raises that caught my eye this week include:
- Modulus - A Zero Knowledge Machine Learning (ZKML) protocol with the aim of making AI more accountable;
- Layer N - A L2 with a focus on scaling Defi, backed by Foundersfund, Daofive, and more recently VSFGhongkong;
- Intmax - A zkRollup with a biometrically authenticated wallet; and
- EkuboProtocol - An AMM on Starknet, backed by 3 million $UNI from Uniswap.
6. TLDR:
- Liquidity in the crypto space remains flat despite recent bullish price action, tread carefully as it seems like capital is flowing to where attention is concentrated on.
- While crypto majors remain strong, do not blindly ape into tokens without doing proper due diligence, keep a level head, and enter fundamentally undervalued projects with proven products, user metrics, or upcoming incentives.
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.
