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15 Jun, 11 tweets, 4 min read
0/ In today’s Delphi Daily, @0xpolygon garnering attention, long term $BTC holders are accumulating, and an analysis of @uniswap’s price and volume.

Check out the full analysis below! 👇

delphidigital.io/reports/delphi…
1/ Market Update-

🔹BTC and ETH had been ranging from the Asia session into the London session, with a short bout of weakness emerging at New York open.

🔹BTC currently sits near its range high and traders are awaiting confirmation of either bearish continuation or an uptrend.
2/ Google trends indicates @0xPolygon is garnering attention from retail users as 1.4 million searches were made for Polygon/MATIC in May alone.

While “DeFi” and “Yield Farming” are growing in search volume as well, users are currently tilted towards Polygon.
3/ According to @Glassnode, the number of BTC held with long-term holders has been on the incline over the past few weeks after months of offloading BTC.

The sharp rise in long-term holder accumulation is a positive sign for those with mid to long term time horizons for BTC.
4/ Bitcoin futures OI is starting to tick up. Meanwhile, bitcoin’s streak of fading dominance also appears to be over.

Bitcoin dominance is rising beside OI, as is normal when the market emerges from a spell of intense fear.
5/ While DeFi assets are following the majors on this bounce, DEX volume has yet to recover. As a result of declining usage and a rising price, assets like $UNI have seen their cash flow derived valuations shoot up in the last 2 weeks.
6/ One would think that for assets like $UNI and $SUSHI, price would follow its volume.
Their correlation to BTC is a stronger influence given the current state of the market. As DeFi decouples from BTC, we likely see the relationship between fundamentals and price grow stronger
7/ Tweets of the day!

Delphi Labs introduces a new interest rate model for DeFi.

8/ The inventor of the internet is selling a 1/1 NFT of his original code.

9/ The United States House of Reps formed a cryptocurrency working group.

10/ Get the most in-depth crypto research sent straight to your inbox. For Free!

delphidigital.io/daily/

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More from @Delphi_Digital

Delphi Digital Profile picture
16 Jun
0/ In today’s Delphi Daily, $BTC HODLers back at it again, @iearnfinance TVL soars, and @0xPolygon DEX volume recovers.

Check out the full analysis below! 👇

delphidigital.io/reports/delphi…
1/ Market Update-

🔹The Federal Open Market Committee (FOMC) keeps interest rate unchanged, but raises expectations for inflation.

🔹 $CHZ and $SHIB are the biggest gainers of today thus far.

🔹 $LUNA, $NEXO, and $SNX are down the most.
2/ The net positions of BTC HODLers is a strong indicator of how longer-term investors are thinking about BTC.

For the first time since turning negative in Nov. 2020, this metric has flipped positive, indicating HODLers are buyers here. Image
Read 11 tweets
Delphi Digital Profile picture
15 Jun
Delphi Labs presents: a Dynamic Interest Rate Model Using Control Theory

In this piece, we explore an alternative pricing solution which we believe to be more capital efficient and better suited to the dynamic crypto market.
delphidigital.io/reports/dynami…
Lending OGs such as @compoundfinance and @AaveAave typically use a fixed price curve where the interest rate (IR) is determined according to the utilization rate of each money market.
While this model has proved useful and was a clever initial approach to the pricing problem, it has some limitations.

Specifically, it can be too rigid for the constantly evolving crypto market and cannot adjust to changes in external market conditions.
Read 11 tweets
Delphi Digital Profile picture
14 Jun
0/ In today’s Delphi Daily, Top Performing Layer Ones, #Ethereum Gas Price Analysis, and @AxieInfinity’s Sharp Growth

For the full analysis 👇 👇

delphidigital.io/reports/delphi…
1/ Quick Market Update-

🔹This past weekend saw the bulls come out on top, indicating retail sentiment is recovering.

🔹Bullish sentiment is making a comeback as @MicroStrategy’s $500 million debt raise settles today.

🔹 $BTC is at its current range high.
2/ @0xPolygon ($MATIC), @solana ($SOL), and @FantomFDN ($FTM) are the three best performing Layer 1 smart contracts platforms in 2021 so far.

$LUNA was performing on par with these assets but suffered a much sharper decline during the latest market downturn. Image
Read 10 tweets
Delphi Digital Profile picture
9 Jun
0/ In today’s Delphi Daily, mixed trading signals for $BTC, @terra_money and #ethereum undervalued, and $ETH supply in smart contracts.

delphidigital.io/reports/delphi…
1/ Market Update-

🔹El Salvadore passed the bill that makes BTC legal tender in Central American country.

🔹Technical indicators are giving mixed signals with a bullish divergence forming while BTC defends its H&S neckline.

🔹ETH supply in smart contracts makes new highs.
2/ Yesterday, BTC attempted a test of its 2021 yearly open support level at $29,400. This level is crucial to defend if the longer-term bull market structure is to continue. This is accompanied by dip-buying and exchange withdrawals as mentioned in our previous daily.
Read 10 tweets
Delphi Digital Profile picture
8 Jun
0/ In today’s Delphi Daily, $BTC on #Ethereum won’t slow down, BTC largest daily outflow, and DeFi loans recover from lows.

Full analysis below👇 👇

delphidigital.io/reports/delphi…
1/ Market Update-

🔹The market had a weak open during Asia hours and the futures premium on BTC has eroded.

🔹BTC is still holding $30,000 implying there’s a strong spot bid.

🔹However, this can change quickly and sellers have continued to offload coins with a vengeance.
2/ 1% of all BTC that can ever exist is currently locked on the Ethereum blockchain. $WBTC continues to lead the way and expand its market share.

BTC’s use as collateral in DeFi has skyrocketed in the past 1.5 yrs and is expected to continue growing as it gathers more traction.
Read 10 tweets
Delphi Digital Profile picture
7 Jun
0/ In today’s Delphi Daily, ETH/BTC shrugs off the correction, the battle for @CurveFinance, and DEX spot volumes hit YTD lows.

Check out the full analysis below 👇 👇

delphidigital.io/reports/delphi…
1/ Quick Market Update-

🔹The market had yet another quiet weekend with little volume across the top 100 coins (likely a result of most of the industry gathering in Miami).

🔹Despite $BTC falling less than $ETH from current ATHs, ETH looks like the stronger asset for now.
2/ If you look at the YTD ETH/BTC chart in isolation, you probably wouldn’t guess fear in the crypto market is the highest it’s been in a year.

It’s worth noting that in 2017, ETH/BTC topped out mid cycle and proceeded to trend down as BTC ripped to $20,000. Image
Read 9 tweets

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