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 = 122.46 bil, with -0.31% weekly change.
Top 10 Chain (In terms of Stables Mcap)
Top inflows:
- Osmosis
- Liquidchain
- RSK
- Loopring
- Kujira
Top outflows:
- Omni
- Hedera
- Linea
- Waves
- Flow
2. Smart Money Movement:
Top Smart money inflows (including stablecoins):
- Token
- Link
- Arbitrum
- Wrapped ETH (Arb)
- Solana
Top Smart money outflows (including stablecoins):
- HarryPotterObamaSonic10Inu
- Real Smurf Cat
- Vombatus
- Instadapp
- USDC (Arb)
Top Smart money inflows (excluding stablecoins):
- Token
- Link
- Arbitrum
- Solana
- uBoredApeYatchClub
Top Smart money outflows (excluding stablecoins):
- HarryPotterObamaSonic10Inu
- Real Smurf Cat
- Vombatus
- Instadapp
- Hay
3. Top L1/L2 Financials:
Fees-Generated
- ETH
- Tron
- BTC
- BSC
- zkSync Era
Revenue
- ETH
- Tron
- Arbitrum
- zkSync Era
- BSC
DAUs
- Tron
- BSC
- Near
- BTC
- ETH
Active Developers
- ETH
- Polkadot
- Cosmos
- Solana
- BTC
Code Commits
- ETH
- Polkadot
- Solana
- Cosmos
- BTC
4. Top DAPP Financials:
Fees-Generated
- Lido
- Uniswap
- MakerDao
- GMX
- AAVE
Revenue
- MakerDAO
- Metamask
- Synthetix
- Lido
- Friend.tech
P/F Ratio
Relative valuation of protocols (Lower the no. the “better”)
- Level Finance
- Nether.Fi
- Mummy Finance
- ApeX Protocol
- HMX
Holders Revenue - Cumulative revenue attributable to holders 24 Hours
- Curve
- Synthetix
- PancakeSwap
- Radiant
- GMX
DAUs - Daily
- Pancakeswap
- Uniswap
- Osmosis
- 0x
- Stargate
Trending Applications
- Maximus
- Stader
- Pandra
- Raca
- Floki
Trending Categories
- Tokens (BSC)
- Memecoin (ETH)
- Cefi (ETH)
- Tokens (Polygon)
- Stables (Arbitrum)
Raises - Recent funding rounds
5. Movement Analysis:
Stablecoin flows:
- Total stablecoin market cap remains flat this week with a slight decrease of -0.31%.
- Osmosis, Liquidchain, and RSK saw the most significant stablecoin inflows.
- Omni, Hedera, and Linea saw the most significant stablecoin outflows.
Smart Money Movement:
- Smart Money has an aggregated portfolio allocation of 40% ETH/ETH Variant, 42% Alts, and 17% Stablecoin this week.
- Token, Link, and Arbitrum saw the largest Smart Money inflow.
- HarryPotterObamaSonic10Inu, Real Smurf Cat, and Vombatus saw the largest Smart Money outflow.
- While Smart Money’s portfolio allocation remains relatively consistent, capital seems to have relocated from shitcoins to protocols and L2s.
- Tokenfi, a crypto and asset tokenization platform created by the Floki team, has captured Smart Money's attention with over $100,000 in inflows this week.
L1/L2 movement:
- Arbitrum season seems to be back with the L2 taking over the 3rd spot in terms of revenue generation, outperforming zkSync Era as users flock back for the short-term incentive program.
DAPP movements:
- Market volatility was prominent this week as BTC surged past the $30,000 resistance level, benefiting perpetual protocols such as GMX, which claimed the 4th spot in terms of fees generated.
- Metamask outpaced Synthetix, Lido, Friend.tech, and GMX to secure the 2nd spot in revenue generation for the week. This achievement could be attributed to the new native bridge function within the wallet.
- Alpha drop by @apes_prologue
- Raises that caught my eye this week include:
- Blockaid - A web3 cybersecurity protocol that raised $33 million from prominent backers like Sequoia Capital;
- Shrapnel - A Web-3 moddable FPS game that raised $20 million in Series A funding led by Polychain Capital; and
- Rymedi - A blockchain-based healthcare data platform that raised $9 million in Series A funding; and
- smlXL - An instrumented Ethereum Virtual Machine (iEVM) that raised $13 million led by a16z; and
- Nocturne - A on-chain privacy protocol that raised $6 million in Series seed round led by Baincapital, Polychain, and Vitalik.
6. TLDR:
- Crypto market sentiment remains strong this week despite weakness in the Tradfi world. BTC and ETH price action remains strong at $34,000 and $1,790 respectively.
- Smart Money has shifted its capital from shitcoins to DAPPs and Layer 2 like Link and Arbitrum.
- There has been an increase in Web 3 deal flow this week as market sentiments improve, with a number of raises exceeding $10 million.
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.
