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May 25 6 tweets 2 min read
0/ Our latest weekly Market Insights report by @3xliquidated examined both traditional and crypto markets to try and get a better understanding of where things currently stand.

From $DXY strength to $BTC open interest levels, let's dive in 🧵👇 1/ With tons of uncertainty in the macro landscape, the Dollar Index $DXY continues to display its strength.

DXY was 95 when the 2022 calendar year began. It has since risen to roughly 103, notching an 8.5% gain YTD, its fastest YoY change in many years. Image
May 25 12 tweets 5 min read
0/ Can crypto investor sentiment get any worse?

In today’s Delphi Daily, we examined the Fear and Greed Index, a @BadgerDAO proposal, and @glassnode’s Bitcoin Accumulation Trend Score.

For more 🧵👇 Image 1/ Crypto investors are shrouded in fear as BTC continues to trade downwards alongside bearish macro sentiments.

The Fear & Greed Index has hit 8 points out of 100, the lowest seen since March 2020. Image
May 24 8 tweets 4 min read
0/ Hop Protocol - A Hare, or a Tortoise?

@HopProtocol's focus is becoming the de facto transfer network for rollups, a trustless bridge that relies on the underlying security of chains it supports.

Our analyst @ceterispar1bus broke down the key fundamentals & prospects of Hop. 1/ Rollups allow @ethereum to scale by moving execution of transactions to a separate chain & batching them to post to the L1.

One tradeoff is liquidity fragmentation. While @optimismPBC and @arbitrum both roll-up to Ethereum, their versions of native $ETH are not 100% fungible.
May 24 12 tweets 6 min read
0/ Has GMX integration led to increased users?

In today’s Delphi Daily, we examined the user numbers of @GMX_IO, the revenge of the greenback, and @HopProtocol.

For more 🧵👇 Image 1/ @GMX_IO is a DEX and margin trading platform that utilizes an oracle pricing model to allow for optimal on-chain execution of trades.

@arbitrum users have been growing rapidly since the integrations on multiple DEX aggregators like @1inch and @paraswap. Image
May 13 12 tweets 5 min read
0/ What other major stablecoin briefly lost its peg today?

In today’s Delphi Daily, we examined the brief USDT depeg, the @ATEMcarclub mint, and the P/S of L1 chains.

For more 🧵👇 1/ During Asia hrs today, USDT saw a depeg from $1 to $0.945 at its lowest.

This did not last long and has repegged back at $1. USDT was being sold and USDC was being bought, causing the USDC to rise to a peak of $1.06. USDC/USDT was trading at ~1.1 at the peak of the depeg.
May 10 10 tweets 4 min read
0/ Are NFT collections bleeding like the rest of the market?

In today’s Delphi Daily, we analyzed the market caps of the largest NFT collections, some notable governance from this week, and our third DISRUPTOR guest.

For more 🧵👇 1/ The largest NFT collections by market cap are bleeding; well-established collections down over 20% in ETH terms and even more in USD terms.

@AzukiOfficial experienced significant volume today after their founder delved into his previous unsuccessful and controversial projects
May 9 11 tweets 5 min read
0/ How has the stability of algorithmic stablecoins been affected by the recent market dip?

In today’s Delphi Daily, we examined the price action of algo stablecoins, the uniqueness of Rainbow bridge, and a podcast about web3 social platforms.

For more 🧵👇 1/ Crypto markets tumbled over the weekend and continue to drop this Monday. Some algorithmic stablecoins have also struggled to maintain stability.

UST has been receiving most of the attention relating to de-pegging, but the same fate has befallen its counterparts.
May 6 6 tweets 3 min read
0/ STEPN Sprinting Away.

@Stepnofficial is a move-to-earn app that allows owners of NFT sneakers to get paid for walking, jogging, or running.

Our DeFi and Gaming experts Joo and @0xRyze dove into the economics and introduced a novel game economy design concept in the process. Image 1/ STEPN has grown remarkably over the last few months, to over 300K daily active users according to the team.

Sales volumes for their NFT sneakers have reached as high as $57M daily during that time, dominating most of @solana's NFT trading volume.
May 5 14 tweets 6 min read
0/ Is there a new TVL king?

In today’s Delphi Daily, we examined the top protocols by TVL, @crypto_unicorns’ launch, and @STEPNofficial’s growth.

For more 🧵👇 1/ @Lidofinance overtook @Curvefinance today to become the leading protocol by TVL.

Lido’s TVL has grown over the past year as more users prefer to have ETH2 yield exposure through liquid staking. Lido now holds 32% of all ETH staked in the ETH2 deposit contract.
May 5 7 tweets 3 min read
0/ Aurora: Another EVM Chain, or the Beginning of Near?

Delphi analyst @ceterispar1bus broke down the economics of @auroraisnear, the EVM on @NEARProtocol, to see how it interacts with the L1 it’s built on and what that means for the future of both Near and Aurora itself. 1/ Before we get to Aurora, it’s important to understand what Near is at a high level.

Near is a PoS L1 with dynamic sharding and 2 second finality, making it akin to ETH 2.0 but live today. Near also has an $800M+ ecosystem fund to drive growth.
May 5 13 tweets 6 min read
0/ Did Evmos just need a fresh start?

In today’s Delphi Daily, we analyzed @evmosorg’s re-launch, @spoolFi’s yield, and everything about @auroraisnear.

For more 🧵👇 1/ After an unsuccessful upgrade during its initial launch in March that led to the team halting the entire chain, @Evmosorg re-launched last week on Apr 28th.

Evmos started gaining TVL on its various native projects, with Diffusion Finance taking the lead as its native DEX.
May 4 11 tweets 6 min read
0/ Large liquidation scares cause significant FTM drawdown.

In today’s Delphi Daily, we examined near liquidation calls on Scream, weekly governance updates, and a @podcastdelphi episode with @tbr90.

For more 🧵👇 1/ Over the weekend, $FTM was one of the tokens that underwent a significant drawdown, experiencing a -26.5% in price in the past 7 days.

In part, this was due to large positions facing liquidation calls on Scream, a money market platform on @FantomFDN.
May 2 12 tweets 5 min read
0/ ~$190M worth of ETH was burned during the Otherdeed land sale!

In today’s Delphi Daily, we examined the on-chain details of @yugalabs Otherdeed land sale, a macro update, and a @podcastdelphi episode on @webaverse.

For more 🧵👇 1/ The @yugalabs Otherdeed land sale was unprecedented in popularity and was likely the largest community to simultaneously compete and mint for an NFT project.

This resulted in gas prices hitting as high as 79k Gwei from their low points of 25 Gwei on the same day.
May 2 5 tweets 4 min read
0/ April Research Highlights.

This week, we’re going to highlight some of the most popular reports we’ve dropped in April. From Frax to farming and Moonbirds to the merge, our researchers covered some serious ground.

Let’s take a look. 1/ Staking on @solana generates over $2 billion of rewards per year, but liquid staking protocols only capture around 3% of that.

Which projects are poised to take the lion’s share of that profit? We enlisted @ceterispar1bus to find out.…
Apr 29 10 tweets 6 min read
0/ Is Orca pulling away from its competitors?

In today’s Delphi Daily, we examined @solana DEXes, @opensea acquiring @gemxyz, and a @podcastdelphi episode with Andre Cronje.

For more 🧵👇 1/ Orca, @Raydiumprotocol, and @projectSerum are native @Solana DEXes, with Orca being the youngest protocol out of the three.

Orca Daily Active Users (DAU) have seen a rapid climb to 108k, whereas older counterparts Raydium and Serum have stayed around 20k DAUs.
Apr 28 8 tweets 3 min read
0/ Valuing Layer 1s - Memes, Money, or More?

Delphi analyst @jon_charb dove deep into prominent L1s to determine how and why some accrue more value than others. He examined monolithic vs. modular structures and which protocols are likely to come out on top. 1/ L1s can achieve the highest valuation by attaining “monetary premium,” which requires sound monetary policy akin to post-merge @ethereum's with EIP-1559.

The prerequisite for sound monetary policy while giving stakers real yield is meaningful revenue capture.
Apr 28 12 tweets 4 min read
0/ What has caused the recent ENS surge?

In today’s Delphi Daily, we examined the uptick in ENS registrations, Orca’s Whirpools, and capture value of L1 tokens.

For more 🧵👑 1/ ENS registrations soared to a yearly high of 10k daily.

This comes as users start to sweep ENS addresses of numerical digits under 10k, behind a theory that users of popular NFTs might want to own the same ENS #.

It generated revenues of $1.1m in daily revenue on April 26th.
Apr 27 6 tweets 3 min read
0/ Managing Expectations Heading Into The Merge.

Delphi analysts @_Bo_Pitto_, @FloodCapital, and @jeremyongws looked at what to expect as we approach the long awaited @ethereum merge. Image 1/ Wen merge?

After numerous delays, the merge is expected to occur around late Q3 or early Q4 of this year. A decision on whether to move forward with or postpone the merge is expected to be made on April 29th during the Ethereum All Core Developers call.
Apr 26 11 tweets 6 min read
0/ Does Optimism now have a leg up on the competition?

In today’s Delphi Daily, we examined how @optimismPBC’s token could give it an advantage, some ongoing DAO proposals, and a podcast on @Metastreetxyz.

For more 🧵👇 1/ AIRDROP ALERT! 🚨

@OptimismPBC has just announced the release of $OP and will be airdropping tokens to Optimism users.

Launching a token before its closest competitor, @Arbitrum, Optimism’s $OP could provide a first-mover advantage.
Apr 26 13 tweets 5 min read
0/ Is someone gaining ground on OpenSea?

In today’s Delphi Daily, we examined daily volume on @looksrareNFT, compared IPOs and crypto, and prepared for the ETH Merge.

For more 🧵👇 1/ @LooksRareNFT has gained significant organic volume recently, reaching a new high of $28M over the weekends.

LooksRare’s daily volume now matches 14% of @OpenSea’s daily volume, encroaching on OpenSea’s market dominance.
Apr 22 12 tweets 5 min read
0/ Which stablecoin has recently cracked the top 3?

In today’s Delphi Daily, we examined $UST’s growth in 2022, @moonbirds_xyz’s outstanding week, and a deep dive on @solana staking.

For more 🧵👇 1/ $UST ’s growth has been remarkable in 2022, expanding by $7.6B in around five months.

Its YTD growth is trailing behind USDC by only $78.3M and will likely soon be 2022’s top growing stablecoin in absolute terms.