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Jan 25 • 10 tweets • 5 min read
0/ Can NFT prices weather the storm?

In today’s Delphi Daily, we analyzed the resilience of marquee NFT brands, @opensea fees, @GMX_io’s surge in volume, and investors start to realize losses.

For more 🧵👇
1/ Marquee NFT brands have stayed resilient amid all the recent macro uncertainty.

While ETH has fallen 35% since the start of the year, NFTs have grown in price (in ETH terms).

Since NFTs are denominated in ETH, they are still exposed to the price changes of ETH.
2/ With the rise of NFT volumes, @OpenSea and NFT projects have been earning massive fees.

OpenSea has made $93M in marketplace fees, while projects have earned a cumulative $202M in royalty fees in January alone.
3/ Volatile markets have driven volume to @GMX_io, resulting in a surge on both @Arbitrum and @Avalancheavax

Combined daily volume on both chains hit $700M on Jan 21st, the highest the platform has ever seen. This led to the platform earning $900k in fees for GMX and GLP stakers
4/ Investors have capitulated on the recent downward movement of BTC to $35k.

As fear strikes the hearts crypto investors, $2.5B of net losses have been realized on the day that BTC hit $35k.

This level of net realized losses hasn’t been seen since June of last year.
5/ Tweets of the day!

SyndicateDAO Launches Web3 Investment Clubs

6/ Fuse is Now Live on Arbitrum!

7/ Solidly, A New AMM, To Launch on Fantom
8/ For the full report that inspired today’s thread 👇👇

members.delphidigital.io/reports/nfts-r…
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 27
0/ Has Ethereum turned deflationary?

In today’s Delphi Daily, we examined stablecoin supply growth, long-term holder’s losses, ETH burns, and NFT Aggregator competition.

For more 🧵👇 Image
1/ Despite the current volatile environment, the stablecoin supply has grown by $5.3B over the past month.

USDC’s growth has recently become more pronounced, surging by $5.2B in supply in the last month.

USDT only grew by $700M. Image
2/ Long-Term Holders started going into loss as BTC tested the lows of $35k. LTHs in loss surged to 17% of all holders, which was last seen in May 2020 (circled in yellow).

Historically, it’s been a sign that the bottom may be in when both STHs and LTHs peak in losses. Image
Read 10 tweets
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Jan 24
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.
Read 10 tweets
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
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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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