⚡Crypto Watchlist for the Week Ahead
Plus tokens outperforming BTC, Perp DEX volume and more
Estimated Read Time: ~6 minutes
⚡In Today’s Edition
Binance relaunches in India
Big banks reveal BTC exposure
Perp DEX volume crushing 2021 ATH
Key macro events this week
📖 Recommended Reads
⚡Crypto watchlist for the week ahead
The DeFi Investor covers big events this week, including a large AVAX unlock and Arbitrum staking proposal
⚡Big banks reveal BTC ETF exposure
Goldman Sachs and Morgan Stanley hold $600M in ETFs
⚡Binance resumes operations in India
India leads the world in grassroots crypto adoption and ranks top five in country transaction volume
⚡7 tokens outperforming Bitcoin this month
Very few coins are green, but the DeFi and DePIN sectors are outperforming
⚡Thoughts on Coinbase’s cbBTC on Base
Co-founder of Stacks Protocol talks cbBTC and the potential impact for Bitcoin L2s & DeFi
Mental models for crypto trading, understanding Bittensor and more
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🔢On-Chain Analysis
Perp DEX Volume: New Paradigm
Despite a slow summer for crypto, perp DEXs are consistently churning out volume.
Each month of 2024 has seen higher perp DEX volume than the previous all-time high in October of 2021.
There are 10 perp DEXs doing at least $1B in volume in the last 7 days.
In 2023 and earlier, before dYdX migrated to its own chain, most perps were trading on the Ethereum blockchain. Now, ETH is only processing about 8% of total perp DEX volume. Hyperliquid and Arbitrum are processing ~30% of total perps volume.
🚜Farm of the Week
WETH-AVAX on Trader Joe
Trader Joe is one of the largest protocols on Avalanche. With price action being muted, earning yield on your assets is a great way to stack funds while we wait for the raging bull to return.
How it Works
Earn 120% APY by providing bridged ETH & AVAX liquidity.
To add liquidity, simply choose the amount of tokens to provide, and select the Shape of liquidity (Spot or Curve if you don’t anticipate a lot of volatility, Bid-Ask if you anticipate volatility), and select the number of price bins or the price range.
The wider the price range, the less yield you’ll earn, but the broader the volatility you can earn yield on. It’s a balance, but you’ll still earn yield as long as the pool stays relatively stable. This pool has stayed within a 15% range for 6 weeks - here’s a good bin setting to earn yield on this range.
Read more about liquidity shapes and providing liquidity here.
Risks
Impermanent Loss
Watch My Interview with the Founder of The Defiant
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🛠️Tool Spotlight
Airdrops.io is Your Airdrop Hunting Buddy
Airdrops.io is a comprehensive resource of the latest airdrops, potential upcoming airdrops, and airdrops for holders & stakers.
They’ve created a dashboard that sources new airdrops, measures popularity, and even tells you what action to take to potentially qualify.
Click on any protocol to get more details and step-by-step instructions on how to participate. Note that this is mostly speculation based on criteria from past airdrops.
You can also filter upcoming potential airdrops by chain.
More helpful DeFi Tools: The Dynamo DeFi Crypto Tools List
🗳️Prediction Pulse: Forecast the World Better
Prediction Pulse is a new newsletter launched by the Dynamo DeFi team about prediction markets.
On Tuesdays and Fridays, you get everything you need to know about the upcoming election, trending markets with the biggest moves, and our favorite prediction market picks to capitalize on🤝
Prediction markets are one of the fastest growing crypto verticals. Join thousands of subscribers and get critical updates & picks on crucial markets.
📅Key Events This Week
Macro Events
📊FOMC meeting minutes - August 21st
📊Existing home sales data - August 22nd
📊S&P Global Services PMI data - August 22nd
📊 July existing home sales data - August 22rd
📊 July new home sales data - August 23rd
📊 BOJ special sessions on rate hike - August 23rd
📊 FED chair Powell speaks - August 23rd
Token Unlocks
🔓TokenUnlocks: Track token unlocks and make better investment decisions. Use my code DDNM5 for 5% off Pro Plans.
🔓PIXEL (7.05%) - August 19th
🔓AVAX (2.41%) - August 20th
🔓FTN (2.1%) - August 20th
🔓ID (4.29%) - August 22nd
🔓BICO (0.75%) - August 23rd
Launches & Updates
Note that these launches are mostly unvetted by the Dynamo DeFi team and this isn’t an endorsement of any of them.
🚀 FluxAI Beta Mainnet - August 20th (Source)
🚀 TapCGPT by ChainGPT telegram game launch - August 20th (Source)
🚀 Quid betty boop NFT release - August 20th (Source)
🚀 MetaPlus DEX launch - August 20th (Source)
🚀 Corez ReStaking on BSC launch - August 20th (Source)
🚀 Ovault V2.0 launch - August 21st (Source)
🚀 Delysium nodpad launch - August 22nd (Source)
⚡Favorite Resources
If you want to dive deeper, here are some of my favorite resources:
🛠️ The Dynamo DeFi Crypto Tools List: A comprehensive list of 100+ crypto tools to help with portfolio tracking, analytics, airdrops and more.
🚀 RocketX: The 1-stop-shop to get the best rates for on-chain & cross-chain swaps.
🛡️ Ledger: The smartest way to secure your crypto. Buy & sell crypto with full control over your assets.
For more frequent content, follow me on Twitter and YouTube.
Until next time,
Dynamo DeFi