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Stablecoin Inflows, zkSync Soars, & Loan Trends
Stablecoin Growth On the Rise Stablecoins grew substantially the past month, with the Top 5 Stablecoin Marketcap growing from $129B […]...
3 Min
DeFi
Dec 2021
ETH Exchange Outflows Outweigh Inflows In Anticipation of ETH-PoW Airdrop
ETH outflows from exchanges outweigh inflows, blockchain gaming continues to attract investors, and Binance...📊 ETH Exchange Outflows Continue to Outweigh Inflows Large amounts of ETH have continued to leave...Since March 15th, ETH outflows have outweighed inflows, as more than 323k ETH has left exchange wallets...
5 Min
Layer 1 / L1
Sep 2022
BUSD Outflows, USDT Inflows
USDT/USDC on Coinbase is up; BUSD/USDT on Binance is down. Expected reaction on BUSD given the events that have transpired over the last day. But USDT finding demand as the narrative shifts to it b...
1 Min
Cash-Backed (Custodian) Stablecoins
Feb 2023
Was The Merge A 'Sell The News' Event?
Heading into the Merge, Ethereum experienced its largest daily exchange inflow since 2016 on Sept 14th...📊 The Merge Brings Large Exchange Inflows The wait is finally over!...One factor that may support this is the large exchange inflows of ETH seen before the Merge....This was the 7th largest single-day net inflow ever.
5 Min
Macro & Markets
Sep 2022
Gauge Weight Shifts & The Impact on Vaults
In our report, we showed how the ycrvBUSD Vault did not see inflows on October 21st despite the BUSD...weight shift scheduled to happen tomorrow, let’s analyze the potential impact it could have on vault inflows...This could lead to inflows for the yUSD Vault as it’s yield is set to double.
3 Min
Asset Management
Nov 2020
Market Musings - April Showers Bring May Flowers
BTC Spot ETFs — May Flowers Blossom Into $2Bn Of Net Inflows Reminder, Delphi’s BTC Spot ETF Flow Tracker...This is the first time in over two months that we’ve seen such consistent inflow levels....The final week of the month has been less impressive in terms of inflow magnitude (~$400m this week vs...inflow statistics.
8 Min
Macro & Markets
Jun 2024
April Showers… May Flowers? - Macro & Markets May 2025
Bitcoin ETFs absorbed more than $3 billion in net inflows during May, driving BTC back above $109,000...Between May 3 and May 23, miners consistently added to holdings, with inflows peaking mid-month....Ethereum ETFs showed early signs of rotation, with nearly $500 million in inflows as investors began...
25 Min
Macro & Markets
Jun 2025
Trader Joe Ascends Amidst Avalanche Rush
Incentives Galore: Avalanche Rush On Aug. 19, Avalanche experienced a surge in capital inflows, triggered...Inflows peaked at just over $1.1B within the first week....The inflow of capital in the two weeks that followed was relatively slow....Capital inflow and active user growth have a strong relationship to AVAX’s price.
6 Min
Lending / Borrowing
Oct 2021
Post-Merge Fallout: A Closer Look Into Price and Issuance
...week’s market report, on the day before the Merge, centralized exchanges witnessed the largest net inflow...This totaled nearly 1M ETH and was the 7th largest single-day net inflow ever....The frontloading of demand, market positioning of traders, exchange inflows, decreased on-chain activities...
9 Min
Macro & Markets
Sep 2022
Black Wednesday
...of BTC exposure liquidated today Deribit futures trade at -75% basis Gas hits 1700 gwei BTC exchange inflows...Key Takeaways BTC inflow to exchanges exceeded 20,000 coins in just an hour today....This is the highest daily and hourly inflow since Black Thursday.
2 Min
DeFi
May 2021
C-Chain Getting Hit By An Avalanche Of DeFi Users
Roughly 1/3th of bridged liquidity was in the form of stablecoins while the tokens with the largest inflows...The inflow from Ethereum quickly filled pools of numerous DeFi applications directly contributing to...Benqi became the top money market in terms of liquidity capturing most of the inflow thanks to DeFi Rush...
10 Min
Proof-of-Stake
Sep 2021
Market Musings - Return of the Flows
As ETF inflows started to return, BTC began to rally more....Since then, we have seen the return of ETF inflow consistency, extending the streak to 10 consecutive...days of inflows....Another trend that we have seen reverse in recent days has been trend of FBTC-dominated inflows versus...IBIT-dominated inflows.
11 Min
Macro & Markets
May 2024
With The Merge In The Rear View, What's Next?
...factor that may be influencing ETH sell pressure over the past 24 hours is the unusually large exchange inflows...On Wednesday (9/14), centralized exchanges witnessed the largest net inflow of ETH since 2016, totaling...In fact, it was the 7th largest net inflow in ETH’s history, according to data from Glassnode.
10 Min
Macro & Markets
Sep 2022
If the ETF Era Made Bitcoin Investable, the 401(k) Era Could Make It Unavoidable
...billions of dollars, even minor shifts in allocation – fractions of a percent – represent material inflows...In BTC terms, annual inflows reaches 12,500 BTC by 2032....By 2029, modeled inflows absorb around 20% of miner issuance, gradually rising to about 30% by 2032....By comparing modeled retirement inflows against miner issuance and ETF demand, we can assess how even...
22 Min
Macro & Markets
Nov 2025
Diamond Hands: This Week’s Debrief
Perhaps the most telling signal was BTC inflow to exchanges, which topped over 20,000 BTC in just one...That is the highest daily AND hourly inflow since Black Thursday in March 2020, when Covid-19 roiled...BTC exchange inflows at highest level since March 2020.
4 Min
Derivatives
May 2021
Monthly Bitcoin Outlook - March 2020
Seeing as how March isn’t complete yet, we extrapolated the existing inflows and outflows to show what...March would target $410 million in net inflows, the largest net inflow value since last June....Monthly Stablecoin Inflows There are two important things to keep in mind regarding the March inflows...
DeFi
Mar 2020
Monthly Bitcoin Outlook - December 2019
...a multi-month trend net inflows....Stablecoin inflows to exchanges have also slowed down....Binance and Huobi continue to be dominant venues for BTC inflows, accounting for over 50% of BTC inflows...Daily Inflows to Exchanges Distribution of Monthly Inflows to Exchanges 6 Data as of November 30th...
Macro & Markets
Dec 2019
Market Musings - Strong Summer Start Turns Sour
We have seen nearly $1.1Bn of outflows since the June peak, with net inflows for the month sitting at...This level of inflows is still relatively healthy compared to prior periods....So, given healthy inflow levels and market participation until last week, what gives?...We have also seen about $14Bn in net inflows to spot BTC ETF products since inception. https://x.com/...
12 Min
Macro & Markets
Jun 2024
Breakouts, Shakeouts, & Fresh Market Highs (Oct. '21 Chartbook)
Institutional inflows for BTC-based investment products have also surged, primarily driven by the launch...when investors are gung-ho, throwing capital at every good deal they can find, Binance sees a ton of inflows...relationship between ETH/BTC price and the amount of BTC custodied by Binance and found that, when there’s an inflow...
9 Min
Infrastructure
Nov 2021
Do Airdrops Hurt More Than They Help?
Since their airdrop snapshot, almost $3B of net inflows have occurred in Kamino’s Lend product....Users have mainly been withdrawing funds from Parcl after the airdrop, with less than 12 days of net inflows...The average magnitude of withdrawals/outflow days ($2.25mn) also exceeds the average deposit/positive-inflow...
25 Min
DeFi
Jul 2024