The weekly 🐰 hole (14 May 23) of liquidity movement & DeFi analysis - by zj.valz
Welcome to the weekly 🐰 hole (14 May 23) of liquidity movements & defi analysis, where we uncover key trends and insights into the top protocols and hidden gems
“Trust me bro, just send money to eth_ben wallet and we gucci” - Retail
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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 = 130.42 bil, with -0.16% weekly change.
Top 10 Chain (In terms of Stables Mcap):
Top inflows:
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RSK
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Moonbeam
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Kava
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BSC
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Tomo
Top outflows:
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Waves
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Terra Classic
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Flow
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Telos
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Hedera
2. Smart Money Movement
Cr: @ozfrox
Top Smart money inflows (including stablecoins):
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Coinbase Wrapped Staked ETH
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USDT
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USDC
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Lido Staked ETH
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Maker
Top Smart money outflows (including stablecoins):
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Wrapped ETH
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Pepe
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USDT (Arb)
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Dai
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Wrapped ETH (Arb)
Top Smart money inflows (excluding stablecoins):
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Coinbase Wrapped Staked ETH
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Lido Staked ETH
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Maker
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BNB
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BTCB
Top Smart money outflows (excluding stablecoins):
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Wrapped ETH
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Pepe
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Wrapped ETH (Arb)
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Avalance
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Balancer
3. Top L1/L2 Financials
Fees-Generated
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ETH
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BNB
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Arbitrum
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Optimism
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Solana
Revenue
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ETH
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Tron
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Filecoin
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Polygon
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BNB
Earnings
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ETH
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Tron
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BNB
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Optimism
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Arbitrum
DAUs
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Tron
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BNB
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Litecoin
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BTC
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Polygon
Active Developers
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ETH
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Cosmos
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Kusama
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Polkadot
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Cardano
Code Commits
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Cardano
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Internet Computer
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Kusama
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Polkadot
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ETH
4. Top DAPP Financials
Fees-Generated
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Uniswap
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Lido
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Convex
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Flashbots
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GMX
Revenue
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Lido
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dYdX
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Synthetix
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Level
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GMX
Earnings
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Lido
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dYdX
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Synthetix
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Opensea
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GMX
P/F Ratio
Relative valuation of protocols (Lower the no. the “better”)
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Venus
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Sonne Finance
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Gamma Strategies
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Level
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Zyberswap
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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BetSwirl
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Level
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CoW
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Hegic
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X2Y2
DAUs
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Pancakeswap
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Uniswap
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Stargate
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Osmosis
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0x
5. Movement Analysis
Stablecoin flows:
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The total Stablecoin Market remains relatively flat at $130.42 billion despite the sell-off across most chains.
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BSC managed to attract the most stablecoin liquidity this week at 3.10%.
Smart Money Movement:
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Smart money is playing defensive currently, with the majority scaling back to Stables, BTC and ETH.
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Meme coin mania seems to be over as smart money dumped their $Pepe stack.
L1/L2 movement:
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BNB remain one of the stronger Alt-L1 in terms of Fees, Revenue, Earnings and DAUs.
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Cardano and Internet computer is seeing huge code commits this week, do keep a look out for upcoming development news from these 2 Alt L1s.
DAPP movements:
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MEV protocols like Flashbots and Manifold shot up in ranking in terms of fees generated as sandwich attacks become highly profitable during Memecoin season.
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Lido's fees, revenue, and earnings skyrocketed this week ahead of the V2 upgrade on May 15th.
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Alpha drop by @apes_prologue
6. TLDR
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Not much movement this week as capital continues to rotate to the next shiny narrative while the market corrects after 4 months of sustained growth.
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The lack of liquidity in the market will exacerbate any downward price action, especially during token unlocks. Don’t attempt to catch falling knives and wait for a trend reversal before deploying.
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Don’t even attempt private sales/pre-sales, you will get rekted by insiders before you can break even.
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Focus on defensive plays (Stables, BTC and ETH) and keep a lookout for undervalued altcoin opportunities.
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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