The weekly 🐰 hole (9 July 23) of liquidity movement & DeFi analysis - by zj.valz
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:
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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
1. Stablecoin Flows
Total Stablecoin MCAP = 127.27 bil, with -0.2% weekly change.
Top 10 Chain (In terms of Stables Mcap):
Top inflows:
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Hedera
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Waves
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Polygon zkEVM
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EVMOS
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Stellar
Top outflows:
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Dogechain
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smartBCH
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EthereumClassic
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Oasis
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Kava
2. Smart Money Movement
Cr: @ozfrox
Top Smart money inflows (including stablecoins):
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Coinbase Wrapped Staked ETH
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Stafi
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wstETH
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USDC
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Curve USD stablecoin
Top Smart money outflows (including stablecoins):
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Wrapped ETH
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Dai
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stETH
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Arbitrum
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rETH
Top Smart money inflows (excluding stablecoins):
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Coinbase Wrapped Staked ETH
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Stafi
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wstETH
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Aave
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Stafi (Polygon)
Top Smart money outflows (excluding stablecoins):
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Wrapped ETH
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stETH
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rETH
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nUSD
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with-bb-a-wETH-BPT
3. Top L1/L2 Financials
Fees-Generated
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ETH
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BTC
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BNB
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Arbitrum
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Fantom
Revenue
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ETH
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Tron
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BTC
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BSC
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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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Cosmos
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BTC
4. Top DAPP Financials
Fees-Generated
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Lido
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Uniswap
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Pancakeswap
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MakerDAO
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AAVE
Revenue
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MakerDAO
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Lido
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PancakeSwap
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Maestro
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Convex Finance
P/F Ratio
Relative valuation of protocols (Lower the no. the “better”)
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El Dorado Exchange
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Level Finance
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GND Protocol
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Mummy Finance
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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)
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El Dorado Exchange
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Level Finance
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Equilibre
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GND Protocol
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X2Y2
Holders Revenue
Cumulative revenue attributable to holders 24 Hours
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Convex Finance
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Pancakeswap
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Synthetix
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Radiant
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Curve Finance
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
Trending Applications
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Arbitrum
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Project Galaxy
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Element Market
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Phi
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XEN
Raises - Recent funding rounds
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Shardeum
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Magic Square
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Supersight
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CryptoQuant
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Web3Go
5. Movement Analysis
Stablecoin flows:
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Total stablecoin market cap remained flat this week at -0.2% decrease.
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Hedera, Waves and Polygon zkEVM saw the largest stablecoin inflows.
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Dogechain, SmartBCH, EthereumClassic saw the largest stablecoin outflows.
Smart Money Movement:
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Smart Money remains relatively quiet this week with slow accumulation into OG defi coins like Aave and Uniswap.
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Some Alts purchased by Smart Money this week include AVAX, Rai Reflex Index, WINR, Level, Pendle and JPEG.
L1/L2 movement:
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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.
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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:
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Lido continues its dominance in the DAPP rankings.
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Level Finance PF ratio is looking attractive compared to other Perp protocols.
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Arbitrum is the top trending application this week.
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Alpha drop by @apes_prologue
6. TLDR
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Smart Money continues to accumulate slowly as the market crabs sideways, with notable inflows into OG DeFi projects like AAVE and Uniswap.
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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.
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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