The weekly 🐰 hole (4 June 23) of liquidity movement & DeFi analysis - by zj.valz
Welcome to the weekly 🐰 hole (4 June 23) of liquidity movements & DeFi analysis, where we uncover key trends and insights into the top protocols and hidden gems.
Ahh yes, $UNI is the “rising crypto king”.
🐰Content:
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Stablecoin flows
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Smart Money Movement
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Top L1/L2 Financials
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Top DAPP Financials
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Movement Analysis
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TLDR
*Quick update: Due to the newly implemented token terminal paywall, I will be adjusting the presentation of this weekly content as I am a broke.
1. Stablecoin Flows
Total Stablecoin MCAP = 129.01 bil, with -0.24% weekly change.
Top 10 Chain (In terms of Stables Mcap):
Top inflows:
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RSK
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Cardano
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StarkNet
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Elastos
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zkSync Lite
Top outflows:
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Hedera
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Flow
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Wanchain
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Waves
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Moonriver
2. Smart Money Movement
Cr: @ozfrox
Top Smart money inflows (including stablecoins):
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USDT
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Coinbase Wrapped Staked ETH
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eUSD
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wstETH (Polygon)
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Wrapped ETH (Arbitrum)
Top Smart money outflows (including stablecoins):
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USDC
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Wrapped ETH
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Wrapped BTC
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stETH
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Tai reflex index
Top Smart money inflows (excluding stablecoins):
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Coinbase Wrapped Staked ETH
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eUSD
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wstETH
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Wrapped ETH (Polygon)
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Wrapped ETH (Arbitrum)
Top Smart money outflows (excluding stablecoins):
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Wrapped ETH
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Wrapped BTC
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stETH
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Tai reflex index
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wstETH
3. Top L1/L2 Financials
Fees-Generated
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ETH
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BNB
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Optimism
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Solana
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Polygon
Revenue
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ETH
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Tron
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BSC
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Avalanche
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Arbitrum
DAUs
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Tron
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BNB
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BTC
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Polygon
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ETH
Active Developers
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ETH
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Polkadot
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Cosmos
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Solana
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BTC
Code Commits
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ETH
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Polkadot
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Solana
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Manta Network
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BNB Chain
4. Top DAPP Financials
Fees-Generated
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Paraswap
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Lido
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Uniswap
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Pancakeswap
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Trader Joe
Revenue
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Paraswap
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Maestro
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Convex Finance
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PancakeSwap
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Metamask
P/F Ratio
Relative valuation of protocols (Lower the no. the “better”)
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El Dorado Exchange
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Paraswap
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Equalizer Exchange
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Equilibre
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Mummy Finance
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)
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Paraswap
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Equalizer Exchange
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Equilibre
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Ramses Exchange
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Level Finance
Holders Revenue
Cumulative revenue attributable to holders 24 Hours
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Pancakeswap
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Radiant
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Curve
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Convex
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GMX
DAUs - Daily
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Pancakeswap
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Uniswap
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Stargate
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0x
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Metamask
Raises - Recent funding rounds
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Kakarot
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Fusionist
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Demox Labs
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Spinamp
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Magic Labs
5. Movement Analysis
Stablecoin flows:
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Total stablecoin market cap continues its downtrend this week at -0.24%.
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RSK, Cardano and Starknet saw the largest stablecoin inflows.
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Hedera, Flow and Wanchain saw the largest stablecoin outflows.
Smart Money Movement:
- Smart money continues to play relatively defensively, with large conversions into USDT and the continued accumulation of ETH and its derivatives.
L1/L2 movement:
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ETH remains the top fee and revenue-generating L1, its dominance continues to outpace alternate L1s like BNB and Solana.
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zkSync’s TVL is increasing rapidly to contest with dominant optimistic roll-ups like Optimism and Arbitrum.
DAPP movements:
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Paraswap overtook Lido as the highest fee and revenue-generating protocol this week.
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Raises are still happening during this crab market, with the most recent Kakarot receiving Vitalik’s angel investment.
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Alpha drop by @apes_prologue
6. TLDR
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zkSync TVL growth outpaces all other L2s thus far. It is probably a good idea to start paying attention to the top protocols in the ecosystem.
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Fundraising is still happening during this crab market. Keep a look out for these protocols that received top VCs/Angle funding which could do well in the next bull run.
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.
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.
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