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26 Nov, 10 tweets, 5 min read
0/ Over 1 million ETH burned!

In today’s Delphi Daily, we analyzed total $ETH burned since EIP-1559, @bobanetwork’s TVL, $CRO and $AVAX outperforming other L1s, and rate hike expectations increase on Powell’s renomination.

🧵👇
1/ @BobaNetwork is an L2 @OptimismPBC Rollup developed by core contributors of the OMG foundation and based on the open-sourced Optimism codebase.

TVL on Boba Network has grown exponentially since the middle of Nov, coinciding with the start of @OolongSwap’s liquidity mining.
2/ The $CRO token has outperformed other Layer 1 tokens this month, clocking and at an impressive ~344% in the month to date.

The CRO token is Crypto.com’s token and is also used as gas on Crypto.com’s chain, Cronos.
3/ Over 1M $ETH has been burned since the EIP-1559 implementation that resulted in the base fee portion of every transaction being burned.

@OpenSea interactions accounted for ~11% of the ETH burned due to the NFT bull season in August and September.
4/ US Treasury Yields have been soaring over the past week, coinciding with Powell’s renomination as the Fed Chair.

Markets seem to have reacted with greater expectations of a rate hike over the next year, strengthening the dollar as demand for it is expected to increase.
5/ Tweets of the day!

Reasons for UST to Be Added Onto Aave

6/ How VCs Affect the Future of Crypto

7/ DYDX Volume Peaks

8/ For the full report that inspired today’s thread 👇👇

members.delphidigital.io/reports/boba-t…
9/ Crypto moves fast. Delphi has you covered. Sign up here to get Delphi's free daily newsletter delivered right to your inbox every weekday

delphidigital.io/daily/

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More from @Delphi_Digital

Delphi Digital Profile picture
26 Nov
0/ Metaverse tokens remain on top.

In today’s Delphi Daily, we examined the recent success of metaverse tokens, recent funding rates, @iearnfinance’s fundamentals, and @convexfinance’s continued dominance.

For a deeper dive 🧵👇
1/ @ConvexFinance continues to dominate the @Curvefinance wars as it owns the largest share of $veCRV among other yield aggregators, growing from 32% in September to 39% today.

Currently, each locked $CVX is in control of ~5.94 veCRV.
2/ @iearnfinance continues to hold itself as the blue-chip yield aggregator, producing a strong revenue stream to the protocol.

$YFI is currently trading at ~9.8x P/E, the lowest it has been since end-June.

At its current pace, its 30D average annualized revenue is ~$118M.
Read 11 tweets
Delphi Digital Profile picture
24 Nov
0/ Which bridge is the most traveled?

In today’s Delphi Daily, we examined which bridges are driving the most capital away from Ethereum, @avalancheavax adoption, and net exchange flow.

For more 🧵👇
1/ AVAX C-Chain adoption has been increasing lately and recently hit 600k daily transactions.

@Avalancheavax’s EVM and @Metamask compatibility, much cheaper fees, and familiar DeFi experiences have been tailwinds for adoption.
2/ As scaling solutions come, we see high bridging activity as funds move away from the expensive Ethereum chain and continue staying there.

Of all the chains, Ronin and @Avalancheavax have seen the highest activity and funds moved.
Read 10 tweets
Delphi Digital Profile picture
22 Nov
0/ King Dollar sends warning signs

In today’s Delphi Daily, we examined the recent strength of the US dollar, the power of free governance tokens, and an update on L2 usage.

For a deeper dive 👇🧵 Image
1/ ENS registrations this month did laps over average monthly registrations since 2019.

Whether this is a side effect of the ENS token launch or not is unclear, but the project sure does seem a lot more popular after giving users a fair bit of free tokens. Image
2/ @arbitrum has seen a steep slowdown ever since the initial mania on the network.

The rollup’s consumption of Ethereum gas to settle transactions has gone down since mid-September.

Apps are likely waiting for Arbitrum Nitro before bombarding the network with incentives. Image
Read 11 tweets
Delphi Digital Profile picture
18 Nov
0/ Defi competition has been heating up.

In today’s Delphi Daily, we examined DEX aggregator wars, the fee race to the bottom, and DeFi revenue.

For more🧵👇
1/ In Sept. 2020, @Metamask announced its native swapping feature that gets quotes from multiple DEX aggregators.

Metamask levies a 0.875% fee on each swap which resulted in over $200M in revenue over the last 11 months.
2/ Let’s compare @Metamask’s revenue to that of two of the top DEXes on Ethereum: @Sushiswap and @Curvefinance. Sushiswap has made just under $70M YTD, while Curve sits around $12M.

Now consider this: Metamask’s customer acquisition cost (CAC) is a big, fat zero.
Read 10 tweets
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18 Nov
0/ NFT interest at new highs, while volume remains stagnant.

Today’s Delphi Daily, we cover a wide range of topics from @opensea’s volume to $BTC ’s MVRV giving hope.

Plus, all of the recent stars joining the @boredapeYC

For more 🧵👇
1/ Worldwide Google searches for “NFT” hit new highs in November even as @OpenSea’s volumes remain relatively stagnant.

The continued rise in search interest suggests NFTs are far from dead and may even be an early indication that another wave of activity is on the horizon.
2/ Profile Pictures (PFP) NFTs have soared the past week as BAYC gained traction from some big stars purchasing and promoting their new apes.

@BoredApeYC (BAYC) was the highlight in the past week as @JimmyFallon, @PostMalone and NBA all-star @RubyGobert27 showed off their apes.
Read 10 tweets
Delphi Digital Profile picture
17 Nov
0/ As funding resets, where to next?

In today’s Delphi Daily, we analyzed recent price retracements, @avalancheavax’s momentum, and @MetaMask’s usage.

For a deeper dive 🧵👇 Image
1/ $BTC had a great run up through the first half of Nov, setting a new high near $69,000, but two major retracements of ~10% in the past week alone has investors and traders back on edge.

Leveraged traders were victims of liquidations as prices dropped and markets deleveraged. Image
2/ As euphoria hit amid new ATHs for $BTC and $ETH, funding rates ranged upward as traders’ appetite for leverage soared.

However, as markets retraced, funding rates reset back near neutral levels. Image
Read 10 tweets

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