Weekly DeFi Rabbit Hole - July 9, 2023
Welcome to the weekly 🐰 hole (9 July 23) of liquidity movements & defi analysis, where we uncover key trends and insights into the top protocols and hidden gems.
🐰 content:
Stablecoin flows
Smart Money Movement
Top L1/L2 Financials
Top DAPP Financials
Movement Analysis
TLDR
1. Stablecoin flows:
Total Stablecoin MCAP = 127.27 bil, with -0.2% weekly change.
Top 10 Chain (In terms of Stables Mcap):
Top inflows:
Hedera
Waves
Polygon zkEVM
EVMOS
Stellar
Top outflows:
Dogechain
smartBCH
EthereumClassic
Oasis
Kava
2. Smart Money Movement:
Cr: @ozfrox
Top Smart money inflows (including stablecoins):
Coinbase Wrapped Staked ETH
Stafi
wstETH
USDC
Curve USD stablecoin
Top Smart money outflows (including stablecoins):
Wrapped ETH
Dai
stETH
Arbitrum
rETH
Top Smart money inflows (excluding stablecoins):
Coinbase Wrapped Staked ETH
Stafi
wstETH
Aave
Stafi (Polygon)
Top Smart money outflows (excluding stablecoins):
Wrapped ETH
stETH
rETH
nUSD
with-bb-a-wETH-BPT
3. Top L1/L2 Financials:
Fees-Generated
ETH
BTC
BNB
Arbitrum
Fantom
Revenue
ETH
Tron
BTC
BSC
Arbitrum
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
AAVE
Revenue
MakerDAO
Lido
PancakeSwap
Maestro
Convex Finance
P/F Ratio
Relative valuation of protocols (Lower the no. the “better”)
El Dorado Exchange
Level Finance
GND Protocol
Mummy Finance
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
Level Finance
Equilibre
GND Protocol
X2Y2
Holders Revenue - Cumulative revenue attributable to holders 24 Hours
Convex Finance
Pancakeswap
Synthetix
Radiant
Curve Finance
DAUs - Daily
Pancakeswap
Uniswap
Stargate
0x
Metamask
Trending Applications
Arbitrum
Project Galaxy
Element Market
Phi
XEN
Raises - Recent funding rounds
Shardeum
Magic Square
Supersight
CryptoQuant
Web3Go
5. Movement Analysis:
Stablecoin flows:
Total stablecoin market cap remained flat this week at -0.2% decrease.
Hedera, Waves and Polygon zkEVM saw the largest stablecoin inflows.
Dogechain, SmartBCH, EthereumClassic saw the largest stablecoin outflows.
Smart Money Movement:
Smart Money remains relatively quiet this week with slow accumulation into OG defi coins like Aave and Uniswap.
Some Alts purchased by Smart Money this week include AVAX, Rai Reflex Index, WINR, Level, Pendle and JPEG.
L1/L2 movement:
Huge fees in FTM Ecosystem this week due to the Multichain hack as users begin pulling funds from FTM due to the L1’s exposure to the now-suspended bridge.
zkSync Era continues to dominate daily TPS as airdrop farmers flock en mass. However, the Defi experience on the chain remains subpar compared to Arbitrum.
DAPP movements:
Lido continues its dominance in the DAPP rankings.
Level Finance PF ratio is looking attractive compared to other Perp protocols.
Arbitrum is the top trending application this week.
Alpha drop by @apes_prologue
6. TLDR:
Smart Money continues to accumulate slowly as the market crabs sideways, with notable inflows into OG Defi projects like AAVE and Uniswap.
We seem to be at the final innings of the bear/crab market with inflation coming down to the 2% range, I am starting to accumulate quality ALTs in preparation for the coming bull run during the next BTC halving.
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.
Follow me @zec_jay on Twitter or subscribe to this substack for more weekly deep dives.
Source:
https://defillama.com/stablecoins
https://tokenterminal.com/terminal
Credits: