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Jan 24 • 10 tweets • 4 min read
0/ Friday saw the most on-chain liquidations ever, hitting a record $200M.

In today’s Delphi Daily, we explore the rash of liquidations, temp check the current market signals, and examine @FantomFDN’s climbing TVL.

For more 🧵👇
1/ As a major correction sent ETH falling from $3.2k to $2.5k in the past week, on-chain liquidations surged as positions started to hit their liquidation point.

Last Friday, money markets on ETH experienced their largest liquidation event to date, amounting to over $200m.
2/ @MakerDAO was responsible for more than 50% of liquidations stated above.

Maker stands to profit from all the liquidation events happening recently.

MakerDAO charges a liquidation penalty to the vault owners if the value of their collateral reaches its liquidation price.
3/ Open interest moved down as the markets turned bearish from hints of impending rate hikes.

BTC and ETH futures OI have contracted by $6B and $3.1B, respectively, since their peaks in November.

All eyes will be on the upcoming Jan FOMC happening on January 25th and 26th.
4/ @FantomFDN started the year at the 8th spot in TVL rankings by chain.

Since then, it has climbed up to the 3rd spot, with the flippening of BSC occurring earlier today.
5/ Tweets of the day!

Illuvium Private Beta Registration Opens!

6/ BlackRock Launches Blockchain ETF

7/ NFT Profile Picture Now on Twitter!

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

members.delphidigital.io/reports/eth-li…
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
Jan 20
0/ Want a glimpse into the galaxy?

In today’s Delphi Daily, we examined Cosmo’s developing ecosystem.

We analyzed interaction in the ecosystem, $ATOM staking, @osmosiszone’s utilization, and @SecretNetwork’s upward trends.

For more 🧵👇 Image
1/ We continue to observe increased traction and user interaction on Cosmos as more apps join the ecosystem.

Daily transactions pertaining to ATOM are up from 26k to 80k.

Cosmos has been the talk of the town lately with the impending EVMOS launch this month driving attention. Image
2/ $ATOM staking is similar to $LUNA staking, where users delegate their tokens to a validator.

ATOM staking now yields around 13% APR, which is on the higher end when compared to other Proof-of-Stake options. Image
Read 10 tweets
Delphi Digital Profile picture
Jan 17
0/ What’s behind Fantom’s meteoric rise?

In today’s Delphi Daily, we examined $FTM ’s growth metrics, Platypus’s surging TVL, and an uptick in retail $BTC accumulation.

For more 🧵👇
1/ Bridge data shows that deposits into @FantomFDN have risen significantly since the start of this year.

The token prices of various native dApps have risen substantially alongside this, attracting more yield farmers.
2/ @FantomFDN ecosystem tokens have trended upwards since the beginning of December.

As the Fantom network gains traction, we’re seeing more capital flow into the entire ecosystem.

Fantom dApps have been trying to boost their TVL to gain a larger share of the ve(3,3) token.
Read 10 tweets
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Jan 13
0/ Is BTC correlated with S&P 500?

In todays Delphi Daily, we examine a correlation between $BTC and $SPX, @POKTnetwork gaining attention, @GMX_io’s increase in trading volume, and @MEVprotection ’s big month.

For more 🧵👇
1/ Over the past month, the correlation between $BTC and $SPX has increased, as both risk assets were similarly affected by hawkish Fed comments

BTC has a historically low correlation with equity markets. However, since 2020, we have seen traditional players enter crypto markets
2/ @POKTnetwork has been gaining attention lately as it has been adopting and providing RPC access to multiple chains.

Pocket Network enables another layer of decentralization through its multi-chain relay protocol, removing reliance on centralized nodes and cloud services.
Read 10 tweets
Delphi Digital Profile picture
Jan 12
0/ We couldn't be more excited to announce that we, @Delphi_Digital, are co-leading Fan Controlled Sports Entertainment’s @fcflio Series A with @Animocabrands.

This is a wild one so buckle up.
1/ FCSE’s first product is Fan Controlled Football - a fan-controlled sports league in which fans call the plays.

Yes, with real players and real fans.

Behind the insanity lies a vision that has the potential to entirely reshape entertainment and fan experience as we know it.
2/ It's best to view FCSE as an entertainment company and not a sports league.

An entertainment company acutely curated for Web 3.0 with a video-game-like sports experience as its core product.
Read 13 tweets
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Jan 12
0/ Can OpenSea be overthrown?

In today’s Delphi Daily, we analyze the launch of @lookrareNFT, the top performers of the past month, short term holder SOPR, and TVL on the Metis Andromeda.

For more 🧵👇
1/ @LooksRareNFT launched yesterday with a surprise airdrop to users who traded at least 3 ETH in volume on @OpenSea.

Day 1 of LooksRare’s activity shows that its volume was comparable to OpenSea during certain hours of the day, with two peaks of $4.5M hourly volume.
2/ $NEAR and $ATOM have been the top performers in the past month amidst a gloomy market.

Other L1 projects either stayed flat or had a -20% to -40% drawdown since the 1st of December 2021.
Read 10 tweets
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Jan 10
0/ Is another NFT season upon us?

In today’s Delphi Daily, we examine @opensea’s hot start to the year, the floor prices of popular NFT projects, implied volatility of $ETH and $BTC, plus @convexfinance contributing to $FXS growth.

🧵👇
1/ @OpenSea started off the year with an explosion in trading volume and active traders. Over the past few days, daily volume has averaged around $200M – $250M.

This level of trading volume was last seen during the Aug. to Sep. 2021 NFT bull market.
2/ The @BoredApeYC floor has decisively flipped #CryptoPunks and is now 27% higher at 77.99 ETH. Meanwhile, Punks have dipped to a 60.95 ETH floor.

PhantaBear is the talk of the town this week, with its floor price growing from 0.34 ETH on Jan. 1 to 6.17 ETH today.
Read 10 tweets

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