Week 28 Mar - 2 APR 2023
Between Ups and Downs, there is Buidl! - Mars Captain
- Starfish Finance has renewed its roadmap and intends to lead the new wave of Entertainment-Fi in Web3! Prediction Market ⬆️🆚⬇️ is out on Arbitrum(💙,🧡). Stay tuned for more innovations!
- Captain always says DeFi is the only viable business model. Look at the Arbitrum-led revival of total TVL in DeFi, it's going to be huge in the next bull.
- Stablecoin total market cap continues to fall. A good sign for a stable market, but trading activity fell significantly compared to the last two weeks. Possibly related to the upcoming US tax season.
- No FOMC in April, US CPI is fake (manipulative) data, Easter is coming. Let's spend a peaceful week!
💵 Stablecoin & Market Landscape
- Stablecoin market share remains high in reference to the total crypto market capitalization. 10.84% of stablecoin (132.9B) on 1.22T crypto market.
Reminder: Mid-NOV 2021, this percentage was around 4ish% with a 3T total MC. Now we are at 12ish% with a 1ishT total MC.
- Now at 1.22T. Still hanging around on the 1T level. Going steady.
Reminder, June and Nov 2022 witnessed a bottom of 800ish B MC vis-a-vis the market’s top in NOV 2021 at 3T.
- The underlying insight of these colours is that Ethereum is still so king compared to other L1s.
- Will the narrative of major layer ones return? We will see.
- Binance's influence is phenomenal. Guess most new users will follow the Binance user journey to get into crypto.
- Arbitrum again has an impressive uptick, outperfoming Polygon and Optimism.
- Still very high for such price level. Unsure how long can this hold.
- Keeping steady. CBBI is an excellent reference to time BTC price movements.
📰 Current affairs
Layer 1s/ Major DeFi
Macro econ/ Regulations
Research reports/videos (DYOR)
Nada for this week!