The weekly 🐰 hole (16 July 23) of liquidity movement & DeFi analysis - by zj.valz
Welcome to the weekly 🐰 hole (16 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 = 127.20 bil, with -0.2% weekly change.
Top 10 Chain (In terms of Stables Mcap):
Top inflows:
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Terra Classic
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Kava
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Mixin
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StarkNet
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Gnosis
Top outflows:
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Waves
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smartBCH
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Algorand
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Karura
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Hedera
2. Smart Money Movement
Cr: @ozfrox
Top Smart money inflows (including stablecoins):
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USDT
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eUSD
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wstETH
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Pancakeswap
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USDT (Arbitrum)
Top Smart money outflows (including stablecoins):
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USDC
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Dai
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Coinbase Wrapped Staked ETH
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stETH
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Wrapped ETH
Top Smart money inflows (excluding stablecoins):
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wstETH
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Pancakeswap
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rETH
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Pepe
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GMX
Top Smart money outflows (excluding stablecoins):
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Coinbase Wrapped staked ETH
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stETH
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Wrapped ETH
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Wrapped ETH (Polygon)
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Strike
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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Optimism
Revenue
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ETH
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Tron
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Arbitrum
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BSC
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Avalanche
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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GMX
Revenue
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MakerDAO
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Lido
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Convex Finance
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PancakeSwap
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Synthetix
P/F Ratio
Relative valuation of protocols (Lower the no. the “better”)
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El Dorado Exchange
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UniDex
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Mummy Finance
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Level Protocol
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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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UniDex
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Level Finance
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Velodrome
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X2Y2
Holders Revenue
Cumulative revenue attributable to holders 24 Hours
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Synthetix
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Pancakeswap
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Curve Finance
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Velodrome
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Radiant
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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Opensea
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Lifeformcartoon
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Dexalot
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Rocketpool
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Layer3
Raises - Recent funding rounds
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Ion Protocol
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Xterio
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Artela
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Aark Digital
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Sound
5. Movement Analysis
Stablecoin flows:
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Total stablecoin market cap remained flat this week at -0.03% decrease.
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Terra Classic, Kava and Mixin saw the largest stablecoin inflows.
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Waves, SmartBCH, Algorand saw the largest stablecoin outflows.
Smart Money Movement:
- There is a notable increase in Alts purchased by Smart Money post-XRP lawsuit partial win. Some notable purchase includes Pancakeswap, Pepe, GMX, Frax and Rollbit.
L1/L2 movement:
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L2s remains the hotbed of Defi activity with Arbitrum continuing to hold its dominance over on-chain transactions.
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It is notable to see Solana catching up with a 145% increase in Dex Volume.
DAPP movements:
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GMX fees increased significantly with the imminent launch of GMX V2, which promises lower fees, low latency oracles and more trading pairs.
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Level Finance’s revenue exceeded GMX by USD50K this week.
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Alpha drop by @apes_prologue
6. TLDR
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Market sentiment has changed, and it will be foolish to adopt a bearish outlook when inflation, recession and regulatory risk have been reduced.
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While there may not be new liquidity entering the ecosystem, excess sidelined liquidity is finally reentering various crypto positions as seen from the increased stablecoin inflows into exchanges.
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As explained by an Anon on 4chan, welcome to the start of the golden Bullrun degens.
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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