The weekly 🐰 hole (18 June 23) of liquidity movement & DeFi analysis - by zj.valz

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:

1. Stablecoin flows

2. Smart Money Movement

3. Top L1/L2 Financials

4. Top DAPP Financials

5. Movement Analysis

6. 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:

1. ThunderCore

2. Waves

3. Terra Classic

4. Osmosis

5. Hedera

Top outflows:

1. Harmony

2. Evmos

3. Liquidchain

4. Canto

5. Theta

2. Smart Money Movement

Cr: @ozfrox

Top Smart money inflows (including stablecoins):

1. stETH

2. USDC

3. Coinbase Wrapped Staked ETH

4. DAI

5. StaFi (PoS)

Top Smart money outflows (including stablecoins):

1. USDT

2. Wrapped ETH

3. Aave USDC

4. Wrapped BTC

5. Sushi

Top Smart money inflows (excluding stablecoins):

1. stETH

2. Coinbase Wrapped Staked ETH

3. StaFi (PoS)

4. wstETH

5. Balancer Boosted Aave WETH StablePool

Top Smart money outflows (excluding stablecoins):

1. Wrapped ETH

2. Aave USDC

3. Wrapped BTC

4. Sushi

5. frxETH

3. Top L1/L2 Financials

Fees-Generated

1. ETH

2. BTC

3. BNB

4. Arbitrum

5. Optimism

Revenue

1. ETH

2. Tron

3. BSC

4. Arbitrum

5. Avalanche

DAUs

1. Tron

2. BNB

3. BTC

4. ETH

5. Polygon

Active Developers

1. ETH

2. Polkadot

3. Cosmos

4. Solana

5. BTC

Code Commits

1. ETH

2. Polkadot

3. Manta Network

4. Solana

5. Cosmos

4. Top DAPP Financials

Fees-Generated

1. Lido

2. Uniswap

3. GMX

4. Pancakeswap

5. MakerDao

Revenue

1. MakerDAO

2. GMX

3. Lido

4. PancakeSwap

5. Convex Finance

P/F Ratio

Relative valuation of protocols (Lower the no. the “better”)

1. El Dorado Exchange

2. Equilibre

3. Level Finance

4. Equalizer Exchange

5. 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)

1. El Dorado Exchange

2. Equilibre

3. Equalizer Exchange

4. Level Finance

5. GND Protocol

Holders Revenue

Cumulative revenue attributable to holders 24 Hours

1. Pancakeswap

2. Curve Finance

3. GMX

4. Gains Network

5. Radiant

DAUs - Daily

1. Pancakeswap

2. Uniswap

3. Stargate

4. 0x

5. Metamask

Trending Applications

1. Sandbox

2. ENJ

3. Shib

4. 0x

5. Chiliz

Raises - Recent funding rounds

1. Concordia

2. TapiocaDAO

3. Bit2Me

4. Intuition

5. 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.

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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