Home
Research
Media
Library
Layer 1 / L1

Fantom Thrives, Paraswap Slows, & Long-Term Holders Stack BTC

JAN 14, 2022 • 3 Min Read

Genevieve Yeoh + 1 other

DISCLOSURE: DELPHI VENTURES HAS INVESTED IN BTC, ETH, LUNA, SOL AND AVAX. MEMBERS OF OUR TEAM ALSO HOLD FTM. THESE STATEMENTS ARE INTENDED TO DISCLOSE ANY CONFLICT OF INTEREST AND SHOULD NOT BE MISCONSTRUED AS A RECOMMENDATION TO PURCHASE ANY TOKEN. THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND YOU SHOULD NOT MAKE DECISIONS BASED SOLELY ON IT. THIS IS NOT INVESTMENT ADVICE.

Metus vulputate eu scelerisque felis. Nulla facilisi cras fermentum odio eu. Scelerisque fermentum dui

faucibus in ornare quam viverra orci sagittis. A iaculis at erat pellentesque adipiscing commodo elit. In

fermentum et sollicitudin ac orci. Ultrices sagittis orci a scelerisque purus. Faucibus ornare

suspendisse sed nisi lacus sed viverra tellus in. Mauris cursus mattis molestie a iaculis at erat

pellentesque adipiscing. Volutpat diam ut venenatis tellus in metus vulputate. Eu consequat ac felis

donec et odio pellentesque. Eu mi bibendum neque egestas congue quisque egestas diam. Quam

lacus suspendisse faucibus interdum posuere lorem. Quam id leo in vitae. Ut faucibus pulvinar

elementum integer enim neque. Id ornare arcu odio ut sem nulla pharetra diam sit. Molestie ac feugiat

sed lectus vestibulum mattis. Ipsum nunc aliquet bibendum enim facilisis. Euismod nisi porta lorem

mollis aliquam ut porttitor.

Iaculis nunc sed augue lacus viverra vitae congue eu consequat. Gravida neque convallis a cras.

Nunc scelerisque viverra mauris in aliquam sem. Non odio euismod lacinia at quis risus sed vulputate

odio. Purus faucibus ornare suspendisse sed. Turpis egestas maecenas pharetra convallis posuere

morbi. Nec feugiat nisl pretium fusce id velit ut. Nunc congue nisi vitae suscipit tellus mauris a diam.

Posuere sollicitudin aliquam ultrices sagittis orci. Urna nec tincidunt praesent semper. Turpis nunc

eget lorem dolor sed viverra.

suspendisse sed nisi lacus sed viverra tellus in. Mauris cursus mattis molestie a iaculis at erat

pellentesque adipiscing. Volutpat diam ut venenatis tellus in metus vulputate. Eu consequat ac felis

donec et odio pellentesque. Eu mi bibendum neque egestas congue quisque egestas diam. Quam

lacus suspendisse faucibus interdum posuere lorem. Quam id leo in vitae. Ut faucibus pulvinar

elementum integer enim neque. Id ornare arcu odio ut sem nulla pharetra diam sit. Molestie ac feugiat

sed lectus vestibulum mattis. Ipsum nunc aliquet bibendum enim facilisis. Euismod nisi porta lorem

mollis aliquam ut porttitor.

Iaculis nunc sed augue lacus viverra vitae congue eu consequat. Gravida neque convallis a cras.

Nunc scelerisque viverra mauris in aliquam sem. Non odio euismod lacinia at quis risus sed vulputate

odio. Purus faucibus ornare suspendisse sed. Turpis egestas maecenas pharetra convallis posuere

morbi. Nec feugiat nisl pretium fusce id velit ut. Nunc congue nisi vitae suscipit tellus mauris a diam.

Posuere sollicitudin aliquam ultrices sagittis orci. Urna nec tincidunt praesent semper. Turpis nunc

eget lorem dolor sed viverra.

lacus suspendisse faucibus interdum posuere lorem. Quam id leo in vitae. Ut faucibus pulvinar

elementum integer enim neque. Id ornare arcu odio ut sem nulla pharetra diam sit. Molestie ac feugiat

sed lectus vestibulum mattis. Ipsum nunc aliquet bibendum enim facilisis. Euismod nisi porta lorem

mollis aliquam ut porttitor.

Fantom TVL Rises on ve(3,3) Catalyst

  • While the TVLs across crypto have stagnated due to market uncertainties, Fantom’s ecosystem has been vibrant. Fantom has gained $1.2B (+20%) in TVL over the past week.
  • This comes as Andre Cronje and Danielle Sesta, two prominent builders in the crypto space, have shown interest in developing the Fantom ecosystem.
  • Andre has been releasing articles about ve(3,3), a new protocol that will launch on Fantom. According to the writeup, Fantom’s top 20 TVL projects will be distributed locked ve(3,3) tokens. This caused Fantom ecosystem tokens to get bid up by investors in hopes of getting a larger share of the ve(3,3) pie.
Paraswap Activity Slows Post-Airdrop
  • Since Paraswap’s airdrop on November 15th, activity on the DEX aggregator has stagnated.
  • Before the airdrop, many people speculated and used Paraswap in hopes of receiving a piece of the airdrop. However, with Paraswap’s ‘anti-sybil’ airdrop, only 1.5%  of total wallets that interacted with the protocol received the tokens.
  • This led to many addresses being left out and not rewarded for using the platform, even if their intentions were not malicious. Some users also stopped using Paraswap after the airdrop, leading to a downward trend in both volume and active addresses.
  • Paraswap’s downfall can be a lesson to other protocols to better design airdrops that are inclusive while less easily abused.
Long Term Hodlers Accumulating the Dip
  • On-chain data shows that throughout January’s price slump, long-term holders have accumulated bitcoin after months of offloading bitcoin at the end of last year.
  • Coupled with the correlation data shown yesterday, it illustrates a transference from shorter-term “weak hands” to long-term “strong hands.”
  • A rise in long-term holder accumulation could be a positive indicator for bitcoin price.
7% Inflation Print Sends BTC Up and Dollar Down
  • After being spooked by hawkish Fed minutes, investors were expecting a high inflation print yesterday. However, the CPI print came within market expectations at 7% YoY and 0.5% MoM.
  • Bitcoin price rallied on the news, and the dollar index slumped to a 2 month low. After testing September lows earlier this week, Bitcoin and the broader market experienced a modest relief rally.
Notable Tweets

BTC ETF in India Soon

NEAR Protocol Raises $150M

fees.wtf Airdrop

Log in to continue reading

Create a free account to continue reading

Go Pro at 40% off

Immediately access the entire catalog of research for Delphi, Office Hours & private Discord

Genevieve Yeoh + 1 other
Readers also enjoyed