Uniswap v3, DOGE Supply Concentration, and Crypto Eating Global Money Supply

Data Digest

• Top pairs on Uniswap v3
• Most liquid tokens on Uniswap v3
• Top 100 DOGE addresses own 70% of supply
• Crypto’s share of global money supply

Key Takeaways

• Uniswap v3 finally launched yesterday and has facilitated $96 million of trades in the first day.
• The top pairs are no surprise, but v3 introduces low fee and capital efficient stablecoin-to-stablecoin pools that directly competes with Curve.

Key Takeaways

• The top tokens by liquidity are no surprise either, with ETH, WBTC, UNI, and the top stablecoins leading the way.
• Uniswap’s liquidity is no longer a direct indicator of trade efficiency and slippage, as noted by founder Hayden Adams.

Key Takeaways

• As DOGE’s popularity surges, holders should be aware that token supply is incredibly concentrated, with a single address owning nearly 30% of token supply.
• The top address owns over $20 billion in DOGE and last offloaded tokens on April 12. The entity is likely a miner given daily inflows.

Key Takeaways

• Crypto’s cumulative market cap now represents over 2% of global M2 money supply — the broadest definition of money supply.
• BTC alone represents 1% of global money supply, while other cryptocurrencies make up the difference of 1.2%.

Notable Tweets

Things to know before taking on a role in crypto

1/ I’m seeing a lot of people interested in leaving their jobs to work full-time in the Bitcoin/crypto/blockchain industry.

Let’s talk about what you should know

(context: I prev worked at a blockchain startup and have helped 100+ people work in the industry)

Thread ??

— Rob Paone (@crypto_bobby) May 6, 2021

THORChain announces ENS-like simple usernames

The future of a Cross-chain Name Service – thornames.

You have no idea just how big and pervasive THORChain is about to become.

Scroll past anon, scroll past.$RUNE pic.twitter.com/8T1bIMRqtU

— THORChain #RAISETHECAPS⚡️ (@THORChain) May 6, 2021

A monthly update on Yearn Finance

Yearn has earned $5.441 million in April (+67% MoM), which translates to $65.3 million annualized earnings.

Total value locked has grown from $1.775 billion to $3.328 billion (+87% MoM), current TVL is $3.782 billion.

Sources:https://t.co/e0SVAgju7Mhttps://t.co/UlI7YvraGU pic.twitter.com/FfBP4AetKB

— banteg (@bantg) May 6, 2021