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…
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.
🔹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.
For the first time since turning negative in Nov. 2020, this metric has flipped positive, indicating HODLers are buyers here.
3/ BTC futures OI is slowly ticking up. BTC options OI is also starting to rise, adding almost $2 billion of fresh contracts in the last week. OI rising in tandem with price is a sign that traders are still structurally bullish on BTC.
4/ Volume for BTC options, however, is far below what we saw in April and May. Considering a ton of OI got wiped out, this isn’t too surprising.
The lack of volume is thus not a major concern. If OI continues to increase with price, volume will pick up the slack at some point.
The lack of volume is thus not a major concern. If OI continues to increase with price, volume will pick up the slack at some point.
5/ @iearnfinance’s AUM has hit $5 billion this week.
Despite this, $YFI price incurred a steep drawdown and hasn’t recovered since. This is another example of a DeFi token whose price has detached from fundamentals.
Despite this, $YFI price incurred a steep drawdown and hasn’t recovered since. This is another example of a DeFi token whose price has detached from fundamentals.
6/ DEX volumes on Ethereum are still beaten down and yet to recover. But DEX volume on Polygon has bounced hard off lows made earlier in June.
With Polygon’s success and several L2 platforms set to launch in the coming months, this could spell a second bout of euphoria for DeFi.
With Polygon’s success and several L2 platforms set to launch in the coming months, this could spell a second bout of euphoria for DeFi.
7/ Time for the tweets of the day!
@RibbonFinance launches it’s liquidity mining program.
@RibbonFinance launches it’s liquidity mining program.
https://twitter.com/ribbonfinance/status/1405157421270671360
9/ Marc Andreessen on the impact of technology.
https://twitter.com/pmarca/status/1404867582302195714
10/ Get the most in-depth crypto research sent straight to your inbox. For Free!
delphidigital.io/daily/
delphidigital.io/daily/
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