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Delphi Digital Profile picture
@Delphi_Digital
Aug 25, 2021 • 11 tweets • 4 min read • Read on X
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0/ In today’s Delphi Daily, we examined the recent habits of $BTC whales.

We also analyzed USDT outpacing USDC, Ethereum hash rates, and adopting on the Lightning Network.

To dive deeper into todays daily 🧵👇
1/ Market Update-

🔹The market is continuing on yesterday’s consolidation, with BTC and ETH moving lower.

🔹L1s like SOL, LUNA, and FTM were affected the most given the L1 run-up the past week.

🔹AVAX and BNB, however, remained resilient during this pullback.
2/ USDC issuance falls, and USDT slips back into pole position.

However, Cirlce recently announced a re-allocation of assets backing USDC into safer investments like bank deposits and short-term treasuries, which could inspire more confidence in USDC and push issuance back up.
3/ During the recent run-up of Bitcoin, the total BTC held in whale wallets, defined as containing 1K-10K coins, fell from about 5.3M to 5.23M in August so far.

Meanwhile, smaller wallets with 1-1000 BTC began accumulating more.

Generally, this is a fairly bearish signal.
4/ Ethereum’s hash rate grew to an all-time high of 611 TH/s, last seen at the peak of this cycle in May 2021.

The network’s transition from Proof-Of-Work (POW) to Proof-Of-Stake (POS) consensus is expected to occur in Q1/Q2 2022 and would spell the end of POW mining.
5/ Lightning Network (LN) is an L2 solution on Bitcoin to improve on its scaling limitation, making it possible for fast transactions and micropayments using BTC.

BTC locked in LN and active nodes on the L2 ramped up in June after the El Salvador announcement.
6/ Tweets of the day!

Tips for bridging over to @Avalancheavax

7/ A consolidated resource guide for anyone in crypto

8/ An update on @AlphaFinanceLab’s oracle aggregator

9/ For access to the full report 👇

delphidigital.io/reports/usdt-o…
10/ Subscribe so you do not miss a report!

delphidigital.io/subscription-p…

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More from @Delphi_Digital

Delphi Digital Profile picture
Oct 17
Crypto x AI Month - Decentralized AI Training: Can It Dismantle Centralized Powerhouses?

Top experts @IridiumEagle, @DillonRolnick, @fenbielding, @johannes_hage debate how open-source and DeAI can rival tech giants, a panel hosted by @Shaughnessy119.

Full Discussion 👇
Listen on your favorite platforms ⤵️
delphi.link/Day4-DeAI-Trai…
🗣 “What decentralization really gives us is the opportunity for a properly modular infrastructure where you could actually compose those models together.” - @fenbielding (@gensynai)
Read 4 tweets
Delphi Digital Profile picture
Sep 19
Arbitrum’s Timeboost Auction ⚖️

Timeboost, @arbitrum's new transaction sequencing policy, replaces first-come-first-serve with an auction for transaction priority.

Winners access an "express lane" with a 200ms advantage for transaction inclusion. This shifts competition from latency to strategic bidding and prediction.

Arbitrum uses first-come-first-serve (FCFS) transaction ordering based on sequencer arrival.

This enables fast blocks and reduces frontrunning, but it has drawbacks:

🔹 MEV capture relies on latency races, spurring infrastructure arms races

🔹 Searchers capture most MEV, leaving little for users, projects, and the DAO

🔹 Incentivizes transaction spamming, risking network congestion

In the other hand, Timeboost auctions are held every minute for next-minute express lane control:

Auctioneer accepts bids for 45 seconds, with 15 seconds for resolution. Minimum bid: 3 $ARB or 0.001 $ETH (DAO decision). Limit: 5 bids per address per round. 👇Timeboost Work-flow
4 Potential Express lane strategies:

1️⃣ Predict MEV opportunities using price models for arbitrage and liquidations.

2️⃣ Capture real-time MEV during control period.

3️⃣ Establish secondary market by winning auctions and reselling rights.

4️⃣ Collaborate with others, sharing access when collective MEV exceeds individual extraction.
Timeboost shifts Arbitrum's MEV from speed to strategy via time-based auctions.

It generates DAO revenue, reduces spam, and allows flexible allocation.

This approach encourages strategic bidding, benefiting the ecosystem while enabling community-driven distribution.
Read 4 tweets
Delphi Digital Profile picture
Sep 11
"The L2 Wars" - Where Are We Now? 🧵

In last year’s Infrastructure Year Ahead report, we outlined the evolving landscape of rollups in the section "The L2 Wars."

This year, we reflect on these past predictions in this new unlocked Alpha Feed 🔓

Key insights included 👇Alpha Feed Cover
🔹Blast Rollup: A complete distortion of rollup architecture, signaling the end of the “kumbaya” phase.

🔹Fragmented L2 Ecosystems: Increasing isolation with unique bridging, interoperability standards, and SDKs for new chains/L3s (e.g., Superchain, Orbit).

🔹Alt-DA for Scaling: Rollups rely on alternative DA to achieve scalability.

🔹Disruption of DA Value: Premium charges on DA would no longer be sustainable, as DA faces innovation.

🔹ETH’s New Bull Case: Ethereum's future as the global proof verification layer and money.

🔹Limited Value for DA Layers: DA layers would see restricted value accrual.

🔹Positive Outlook for L2 Tokens: Sequencing value could drive positive outcomes for L2 tokens.

These predictions have largely played out, with Ethereum's focus shifting back to scaling L1 to avoid losing value to rollups.
ETH has been going through somewhat of a social crisis, and these talking points above are now brought up ad nauseam. ⤵️

Read 8 tweets
Delphi Digital Profile picture
Aug 15
Solana The Modular

Reflecting on our report a year ago, "Solana The Monolith", @solana's modular components continue gaining value across platforms, affecting ETH & BTC.

As rollups promote modularity, Solana is at the forefront.👇Solana the Modular - Cover
In the report, we explore how Solana is contributing to the growing landscape of modular blockchain components while also developing its internal demand through the creation of L2 solutions.

Check out the full deep dive by @Mahadikprasad15 ⤵️
delphi.link/SolTheModular
Separation of the Solana Virtual Machine

The SVM is the execution engine for Solana.

Previously, the SVM and Validator Client were closely integrated, which constrained innovation by requiring any changes to consider the entire system as a whole.
Read 20 tweets
Delphi Digital Profile picture
Jun 21
The Tower & the Square

The 21st century is primed for a continued struggle: the state, the corporation, the elites vs. the network. The hierarchy and the hivemind. The Tower and the Square.

With the rapid advances in AI, perhaps the stakes have never been higher.Image
Of history's countless concentrations and diffusions of power, the next chapter is perhaps its most consequential.

Don’t miss out on @PonderingDurian lastest report ! Probably the best current read on Centralized AI, Crypto, and Open Source AI 👀👇
delphi.link/TheTowerAndSqu…
Your Size is Not Size

Google, Amazon, Meta, Microsoft, and Apple have over $400B in cash-like assets and generate >1.5% of GDP in annual operating income. The race for AI supremacy is only heating up.

The 4 hyperscalers (Excl. Apple) spent $467B in capex the last 3 years👇HyperScaler Total Capex (US$B) - Source Company Reports / Guidance. Bloomber. Wall Street Estimates
Read 22 tweets
Delphi Digital Profile picture
May 22
ETH ETF Approval Shakeup?

Following unprecedented news, the odds for an ETH ETF approval surged to ~70% after hovering below 25%. Subsequently, ETH’s market cap rose by $71B in one day - the largest daily surge ever recorded.

Here's our developing Ethereum Spot ETF Thread🧵Image
As @NateGeraci notes, recent shifts suggest a possible approval. However, for a launch of ETH ETFs both the 19b-4 and S-1 filings must be approved.

Meaning, the SEC could accept the 19b-4 filings but delay approvals for the S-1 statements only partially green-lighting the ETFs.

Bottom line: The final launch could be delayed. Here are the details 👇
Read 11 tweets

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