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15 Dec, 10 tweets, 4 min read
0/ Markets are in ‘extreme fear’ according to the Fear & Greed index. And many are fleeing to stablecoins.

In today’s Delphi Daily, we examine the current market sentiment, the daily stablecoin transfer volume, a disappointing December, and @Nike joining the metaverse.

🧵👇
1/ Daily stablecoin transfer volume went up to ~$57B today, which was only previously seen in May after the downward movement of ETH.

Stablecoin transfer volume tends to trend within $10-20B daily.
2/ December has been a disappointing month for crypto as macro uncertainty brews. Prices of large-cap crypto assets moved sideways to start the month before another turn lower yesterday.

$LUNA is an outlier as it’s the only one that performed positively since the start of Dec.
3/ The markets have become extremely fearful as of recent, largely driven by the latest sell-off and heightened macro uncertainty.

All eyes will be on the Fed as Powell hosts the final press conference of the year tomorrow following the FOMC’s two-day meeting.
4/ @Nike announced that it has acquired the metaverse sneaker company @RTFKTstudio (pronounced as “Artifact”).

With that, Nike joins the likes of Visa and Adidas as companies that have entered the NFT space.
5/ Tweets of the day!

Astroport’s Lockdrop Starts

6/ Will SushiSwap Join the Frog Nation?

7/ ETH vs L1 Podcast

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

members.delphidigital.io/reports/disapp…
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
16 Dec
0/ Watch out, an Avalanche is coming!

In today’s Delphi Daily, we examined how $AVAX leads the rebound following Powell’s speech and the new development activity on @avalancheavax’s C-Chain.

We also analyzed institutional demand for crypto and DEX trading activity.

🧵👇 Image
1/ Crypto assets rebounded after Fed Chariman Powell’s speech yesterday.

Crypto markets were jittery in the days leading up to the FOMC meeting, likely in preparation for an overly hawkish Fed.

However, the outcome of the FOMC meeting was what most expected. Image
2/ Development activity on @avalancheavax’s C-Chain has grown meaningfully this year, with over 400 developers and 70K unique contracts deployed.

Amongst other things, growth accelerated in late July with the arrival of @chainlink price feeds on Avalanche’s mainnet. Image
Read 10 tweets
Delphi Digital Profile picture
15 Dec
0/ What do the near-term options say about current market conditions?

In today’s Delphi Daily, we analyzed implied volatility for near-term options, DeFi options protocols TVL growth, $RBN and @ribbonfinance’s price divergence, and daily transactions across different blockchains Image
1/ Implied volatility for near-term options are skewed towards puts, indicating that market participants have concerns.

Option expiries slightly further out at the end of the year (Jan. – Feb. 2022) are less skewed, indicating a neutral price outlook over the mid-term. Image
2/ DeFi options protocols have grown in TVL over the last few months, due to the emergence of new primitives such as @dopex_io, @FODLfi, and @PremiaFinance amongst others.

@opyn_ and @ribbonfinance account for over half of all on-chain options TVL. Image
Read 10 tweets
Delphi Digital Profile picture
15 Dec
Delphi’s core mission is to be the best place for smart people to come together and build the future of the crypto space

We’re always looking for intellectually curious people and wanted to share a thread with some roles we are currently looking for
delphidigital.io/careers
1/ Product Managers

Our Research Platform is still just getting started. We have a ton of great ideas, but we want to ship fast and iterate quickly.

We’re looking for PMs who want to build a next-generation type product for crypto insights
delphi.link/3DVHu2D
2/ Senior Fullstack Developers

If you’re a dev who is eager to take ownership over specific features and help us build products that our members will love, get in touch with us!

A passion for crypto is a must
delphi.link/3GIkm9D
Read 13 tweets
Delphi Digital Profile picture
13 Dec
0/ ETH dominance reaches new highs!

In today’s Delphi Daily, we examined $ETH dominance compared to $BTC dominance, the recovering hash rates of both Bitcoin and Ethereum networks, and @opensea volume recovering.

For more 🧵👇
1/ $ETH and $BTC have both performed well in 2021.

However, as the year went on ETH edged out BTC, as reflected by market cap dominance.

ETH’s dominance went from ~11% at the start of the year to ~21% today. BTC dominance on the other hand started at ~73% and is at ~42% today
2/ When China banned cryptocurrency mining, BTC difficulty and hash rate plummeted as mining farms were forced to close.

Despite the quick drop, the recovery was steady. Bitcoin is back to its prior hash rate high of ~180M TH/s less than five months after China’s ban.
Read 10 tweets
Delphi Digital Profile picture
9 Dec
0/ How has the recent volatility affected DeFi lending?

In today’s Delphi Daily, we examined on-chain leverage, stablecoin growth, ZK-rollup’s increased usage, and Ethereum DEX aggregators.

For a deeper dive 🧵👇
1/ Stablecoins grew substantially the past month, with the Top 5 Stablecoin Marketcap growing from $129B to just under $150B.

$USDT and $USDC were responsible for most of the supply growth, with USDC growing by $7.8B and USDT by $6B.
2/ With the ZK-Rollup narrative popping off the past few weeks, we can see that users are moving funds over to projects like @Loopringorg and @zkSync to test it out.

Since the start of Nov, unique users grew by ~85k and deposits grew by ~$74.5M, the fastest pace seen yet.
Read 10 tweets
Delphi Digital Profile picture
8 Dec
0/ Terra is now the third largest blockchain by TVL.

In today’s Delphi Digital, we analyzed TVL on different L1 blockchains, the p/s of the main DEXs, $UST supply, and @lidofinance benefitting from $LUNA price.

For more 🧵👇
1/ TVL on @Terra_money network overtook @Avalancheavax and @Solana, making it 3rd largest blockchain by TVL.

It’s important to note that TVL numbers are highly reflexive alongside native token prices as they are commonly used as collateral in DeFi and as base pairs for DEXes.
2/ The increase in $UST Supply from under $3b to $7b across mid-November was due to this proposal to mint UST with $LUNA in the community pool to grow the Terra ecosystem through UST usage.

UST did another ~$1b of growth in circulating supply after 19th November.
Read 10 tweets

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