Weekly DeFi Rabbit Hole - June 18, 2023
Welcome to the weekly 🐰 hole (18 June 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 = 128.25 bil, with 0.04% weekly change.
Top 10 Chain (In terms of Stables Mcap):
Top inflows:
ThunderCore
Waves
Terra Classic
Osmosis
Hedera
Top outflows:
Harmony
Evmos
Liquidchain
Canto
Theta
2. Smart Money Movement:
Cr: @ozfrox
Top Smart money inflows (including stablecoins):
stETH
USDC
Coinbase Wrapped Staked ETH
DAI
StaFi (PoS)
Top Smart money outflows (including stablecoins):
USDT
Wrapped ETH
Aave USDC
Wrapped BTC
Sushi
Top Smart money inflows (excluding stablecoins):
stETH
Coinbase Wrapped Staked ETH
StaFi (PoS)
wstETH
Balancer Boosted Aave WETH StablePool
Top Smart money outflows (excluding stablecoins):
Wrapped ETH
Aave USDC
Wrapped BTC
Sushi
frxETH
3. Top L1/L2 Financials:
Fees-Generated
ETH
BTC
BNB
Arbitrum
Optimism
Revenue
ETH
Tron
BSC
Arbitrum
Avalanche
DAUs
Tron
BNB
BTC
ETH
Polygon
Active Developers
ETH
Polkadot
Cosmos
Solana
BTC
Code Commits
ETH
Polkadot
Manta Network
Solana
Cosmos
4. Top DAPP Financials:
Fees-Generated
Lido
Uniswap
GMX
Pancakeswap
MakerDao
Revenue
MakerDAO
GMX
Lido
PancakeSwap
Convex Finance
P/F Ratio
Relative valuation of protocols (Lower the no. the “better”)
El Dorado Exchange
Equilibre
Level Finance
Equalizer Exchange
GND Protocol
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
Equilibre
Equalizer Exchange
Level Finance
GND Protocol
Holders Revenue - Cumulative revenue attributable to holders 24 Hours
Pancakeswap
Curve Finance
GMX
Gains Network
Radiant
DAUs - Daily
Pancakeswap
Uniswap
Stargate
0x
Metamask
Trending Applications
Sandbox
ENJ
Shib
0x
Chiliz
Raises - Recent funding rounds
Concordia
TapiocaDAO
Bit2Me
Intuition
Poko
5. Movement Analysis:
Stablecoin flows:
Total stablecoin market cap remains flat this week as Fed announced a pause in the I/R hike.
ThunderCore, Waves and Terra Classic saw the largest stablecoin inflows.
Harmony, Evmos, Liquidchain saw the largest stablecoin outflows.
Smart Money Movement:
Smart money swapped out USDT for other stablecoins (USDC/DAI) over depegg fears.
No exciting buy/sell this week as Smart money slowly accumulates ETH and/or sits at the sideline.
L1/L2 movement:
Arbitrum’s DAU continue to trend down while zkSync Era slowly inches upwards. This could mainly be attributable to airdrop farmers but only time will tell if zkSync can sustain this momentum.
DAPP movements:
MakerDAO benefitted from the demand for DAI due to USDT depeg fears, raking in $1.8 million in revenue this week.
Sandbox is the top trending application this week with 33,068 active addresses.
Alpha drop by @apes_prologue
6. TLDR:
Relatively slow week today in the crypto markets as all eyes are focused on the next shiny AI narrative in the Tradfi markets.
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: