Pinned
Submission Only BJJ Heavyweight Champion. Hungry dogs run faster.
David Alexander II
8,821 posts
David Alexander II
@Mega_Fund
Joined October 2011
- Solana network activity is currently shattering all-time highs in many different areas. Daily network fees are now at $3.8M, a new record and up 754% on the month. Meanwhile, daily DEX trading volumes are over $3.8B, also a new record and up 430% on the month. In terms of users,
- Solana continues to capture network fees at a record pace and now represents about 16% of all daily fees collected across major protocols. Yesterday, roughly $31M worth of fees were captured throughout the space including Ethereum ($12.9M), Tron ($4.7M), Lido ($3.5M), and Bitcoin
- Quietly $ETH is having its best month of ETF inflows since December, with over $400M of capital pouring in. Thatโs more than the last four months combined (-$176M) and marks the third best month since ETH spot ETFs launched last July. Buckle up ๐
- Over the past 7 days, Solana has handled over $348B of stablecoin volume on the network. To put this into perspective, this is more than double the amount on Ethereum, which handled $159B of stablecoin volume during this same time period and was the second most overall.
- Net deposits into @KaminoFinance have surged by $1.6B (80%) to a new all-time high of $3.6B. The protocol now manages $1.5B in active loans and just hit a record $1.4M in daily fees. Kamino is now the 3rd largest lending protocol in terms of both active loans and total
- Solana dev activity looks like a complete wasteland right now. Weekly commits in free fall over the last 12 months. Hopefully this is mainly related to all of the VC exit liquidity projects getting flushed from the system ๐ $sol
- Despite all of the recent regulatory, macro, and security headwinds, $BTC balances on exchange wallets are trending upwards. Remember, self-custody is ๐
- 9 straight days of 9-figure $ETH ETF inflows, with over $3.2B pouring in. Spot ETH ETFs now collectively hold over 5 million ETH, accounting for more than 4% of the total supply. Buckle up. h/t @FarsideUK
- Over the last 6 weeks, $2.1B worth of stablecoins have left exchanges, down 14% since May and down 48% YTD. Liquidity continues to be at a premium and buying power is approaching new yearly lows.
- As we close out the month, open interest on $BTC has soared to new yearly highs. There is now over $13.1B worth of open futures contracts, the most since November 2022, and up 30% over the last 7 days. Everyone is betting on an ETF ๐
- Whilst the market burns, daily active $ETH addresses are up 31% since April. Winners win, builders build ๐
