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David Alexander II

@megafund

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David Alexander II pfp
David Alexander II
@megafund
Over the last 3 days, net inflows to $ETH ETFs have surpassed $578M, including record levels of daily volume. Total inflows have now flipped to positive for the first time. Institutional Wartime ETH
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David Alexander II pfp
David Alexander II
@megafund
Despite being roughly 46% away from its all-time high, ETH futures open interest has surged to record levels and now stand at a staggering $17.9B (up $4.9B in one week). To put this into perspective, futures open interest were just $10.9B when the price of ETH was at its peak in November 2021.
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David Alexander II pfp
David Alexander II
@megafund
The march on institutional investments continues, as 5 of the last 6 weeks since the Fed cuts were announced have resulted in significant inflows. Last week we saw over $901M in digital asset investments, once again led by BTC ($920M), while BlackRock added another $1.14B AUM to its BTC ETF holdings. There were also some interesting ETH outflows (-$34.7M) and relatively large SOL inflows ($11M), which pushed SOL's YTD inflows to $69M. Nevertheless, both ETH and SOL could see increased institutional activity provided there is a stable macro environment, especially as on-chain activity and stablecoin liquidity continue to grow.
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David Alexander II pfp
David Alexander II
@megafund
Quick monthly stablecoin updates: -$169B of total fiat-backed stablecoins in circulation through Sept, a new record -this an increase of 2.6% month-over-month and 40% from last Sept -$1.4T in total transaction volume, 337M total transactions, and 27M unique users on the month -this is also the seventh consecutive month that a new all-time circulation level was achieved
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David Alexander II pfp
David Alexander II
@megafund
Quick institutional flow updates: -$1.2B of net inflows last week, the highest weekly volume since July and the third consecutive week of net inflows. -$1.1B was in BTC ETFs, of which $494M occurred on Friday (the most in one day since July) -$85M in ETH ETFs. Relatively small, but the first time in 5 weeks that there was positive flows here. -We also had some heterogeneity here: Ark($270M) and Fidelity($206M) contributed to nearly half of all BTC ETF volumes, so it wasn't all just Blackrock this time.
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David Alexander II
@megafund
Since the Fed cut interest rates by 0.5% on September 18th, Bitcoin ETFs have experienced over $862M of net inflows. This includes $365.7M yesterday, the most daily inflow since July ($530M). Daily trading volumes yesterday also reached a new monthly high of $2.4B. Macro leads, crypto follows.
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David Alexander II
@megafund
Markets continue to bleed, but Ethereum layer 2s continue to gain more liquidity. Over the past month, $287M of stablecoins entered the L2 ecosystem. @base led the way with $132M followed by @arbitrum ($112M) and @optimism ($43M). Follow the liquidity 😈
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David Alexander II pfp
David Alexander II
@megafund
There are now more than 1.2M daily active addresses on @base while the network has just settled $5.4B worth of stablecoin transfers in one day. Meanwhile, over 154,000 new contracts have been deploy to the chain. All of these numbers are new all-time records. The best builders build through battles 😈
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David Alexander II pfp
David Alexander II
@megafund
Payments and the exchange of cryptodollars on @base continue to accelerate, as the network recently settled more than $4.8B of stablecoin transfer volume in one day, its highest daily volume ever. Month-over-month volume has now doubled as we close out August. @uniswap ($3.6B), @aerodrome ($2.5B), and @moonwell ($805M) have all been significant drivers of this activity over the past month. OᑎᑕᕼᗩIᑎ ᔑᑌᗰᗰEᖇ 😈
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David Alexander II pfp
David Alexander II
@megafund
Daily active addresses on @base have just surpassed 1M for the first time ever and now stand at 1.1M, with more than 4.3M transactions occurring on the network today. Moreover, daily stablecoin transfer volume also reached a new high of $4.1B recently, up 156% week-over-week. This past week was also particularly busy for AerodromeFi, Moonwell, and Uniswap who handled $465M, $242M, $202M, of stablecoin transfer volume on Base, respectively. Onchain Summer 😈
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David Alexander II pfp
David Alexander II
@megafund
Daily active addresses on @base are at all-time highs, surpassing 900K for the first time ever. This comes shortly after a record number of contract deployers were active on the network last week and as Base continues to handle upwards of 4.1M daily transactions. The beauty of a well-designed ecosystem initiative that is Onchain Summer 😈
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David Alexander II
@megafund
Quietly, and through a host of macro downturns, BlackRock now has over $1B ETH AUM.
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David Alexander II
@megafund
Developer activity on @base has surged to all-time highs, with over 34.6K contract deployers operating on the network yesterday. Meanwhile, daily active users has increased by 22% week-over-week. The power of Onchain Summer 😈
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David Alexander II
@megafund
This past week, Drift has been one of the strongest performers across all ecosystems during the market downturn, achieving record levels of activity and servicing $970M of daily volume. DeFi on Solana is growing 😈
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David Alexander II
@megafund
Despite considerable market headwinds, @base settled $79B in stablecoin transfer volume in July, the highest monthly volume ever on the network and a 47% increase from June. Onchain summer is still here.
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David Alexander II
@megafund
Daily transactions on @base recently surpassed 4M, a new all-time high and an increase of 28% month-over-month. Base currently handles nearly double the amount of daily transactions than Arbitrum (2.2M) and Optimism (526K) combined.
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David Alexander II
@megafund
Zooming out, it's pretty wild to see @base's growth this past year. In terms of network activity, daily transactions are at record levels (3.4M+) and Base now handles more daily transactions than the next 5 most popular L2s combined (Arbitrum, Optimism, Blast, Linea, and ZKsync).
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David Alexander II
@megafund
Moreover, network activity on @base also reached an all-time high this week, completing over 3.4M daily transactions (surpassing previous highs of 3.2M). Meanwhile, Uniswap and Aerodrome have been significant drivers here, achieving over $2.67B and $1.23B of volume, respectively, through the month of June so far.
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David Alexander II
@megafund
Despite macro headwinds and a rough few weeks across crypto markets, activity on @base continues to surge. Earlier this week, the network handled over $3.05B in daily stablecoin transfer volume, a new record, and brings the total volume to $33.4B in June.
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David Alexander II
@megafund
Throughout the entire L2 space, @base is now the most performant in terms of TPS, currently achieving 36+ TPS This is particularly interesting given the network is handling levels of daily activity that are approaching new all-time highs, with more than 3.1M transactions occurring yesterday and $816M in DEX volume.
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