⚡️Forget Circle. This project owns 30% of the stablecoin market

This chain owns stablecoin transfers, and you're probably not looking at it

Read Time: ~5 minutes

⚡Snapshot

• This stablecoin network is already booming

• 70% yield on ETH

• How we decide which Bittensor (TAO) subnets are worth buying

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📖 Recommended Reads

⚡How we decide which Bittensor Subnets are worth buying

How to value TAO subnets + a list of subnets with strong potential

⚡Civil War?

Wisdom from Ray Dalio

⚡Best practices for self-custody

How to keep your assets safe in a dangerous landscape

⚡Is the CLARITY Act good for DeFi?

Revised bill in Congress looks to add clarity for crypto builders

⚡Digital asset inflows slow, Ethereum leads

Ethereum leads inflows, strongest run since US election

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⚡What to Keep an Eye on This Week

This month’s Dynamo DeFi Pro Zoom call is on Thursday, 5:30pm EDT.

We’re doing a live presentation with research on:

• Hyperliquid

• Plume Network

• Stablecoins - issuers & networks (and how to capitalize)

• Which protocols are earning real revenue right now

• What the BTC Treasury strategy means for DeFi

• Live Q&A

Join Pro now to get immediate access to the presentation

Pro members also receive the recording

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🔢Onchain Analysis

Is Tron Benefiting from Stablecoin Hype?

A long-asked question in the crypto community is how one can benefit from the massive growth & impact of stablecoins.

Circle’s IPO trading at $20b+ shows institutional demand for equity in stablecoin issuers.

What about stablecoin networks?

During last week’s Dynamo DeFi Community Call, we pointed out a few bullish metrics for Tron.

Given stablecoins make up ~60% of onchain transaction volume, and the promising onchain future, Tron is positioned well to capture this activity.

Tron holds nearly $80b in stablecoin market cap onchain, second only to Ethereum’s $124b. In dominance terms, ETH has 50% of market share, and Tron has 31%.

Tron leads all chains in P2P Transaction Volume - which is a signal for real usage, as this volume is only counted if stables are transferred from one user’s wallet to another.

Tron consistently hosts over 50% of all P2P stablecoin transfers onchain.

These P2P stablecoin transfers result in lots of volume, and lots of TRX fees burned, indirectly benefitting TRX holders (Tron’s maximum token supply is unlimited, but all existing tokens are already in circulation).

While Tron isn’t exactly known for hosting DeFi power users, building a fast & cheap network with millions of real users is impressive. Plenty of networks have come and gone while Tron continues to onboard users and facilitate global payments.

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🚜Farm of the Week

Earn 68% on WETH-USDS Through PancakeSwap

There’s a great yield on WETH on BSC-native DEX PancakeSwap (on the Arbitrum network).

Liquidity providers can earn nearly 70% on their ETH.

How it Works

You’ll need to connect your wallet (any major wallet will do) and switch to the Arbitrum network.

The pool has over $2m in TVL, which is a small but safe amount.

PancakeSwap has a helpful calculator next to all of their yield numbers so you can calculate estimated earnings.

Once your wallet is connected, you’ll select “Add Liquidity”. Select a range in which to earn trading rewards. A 10% range to the upside and downside gives your position 20% range flexibility.

Risks

Risk level: Medium

• Impermanent loss - use the Impermanent Loss Calculator here

How Moonwalk is Using Crypto to Build Fitness Accountability

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⚡Follow Dynamo DeFi on X

Get daily onchain updates & insights, the latest news and analytics.

Follow Dynamo DeFi on X

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🛠️Tool Spotlight

Bitcoin Magazine Pro Tracks Onchain Indicators

The Bitcoin MVRV Z-Score is a chart that values Bitcoin’s price vs its onchain “fair value” overtime. This metric is helpful to identify periods of mania, where market value is far above realized value.

Bitcoin Magazine Pro also tracks the Puell Multiple, RHODL Ration, NUPL & Reserve risk indicators for free.

More helpful DeFi Tools: The Dynamo DeFi Crypto Tools List

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📅Key Events This Week

Macro Events

📊 US-China trade talks in London - June 9th

📊 Crypto market structure bill - June 10th

📊 SEC roundtable on DeFi - June 11th

📊 US CPI data - June 11th

📊 US federal budget balance - June 11th

📊 US PPI data - June 12th

📊 Trump's birthday - June 14th

📊 SEC decision on $DOGE ETF - June 15th

Token Unlocks: $120m Unlocking This Week

🔓Tokenomist: Track token unlocks and make better investment decisions. Use my code DDNM5 for 5% off Pro Plans.

🔓FLR (2.96%) - June 9th

🔓GGP (1%) - June 9th

🔓AGI (3.93%) - June 10th

🔓BB (96.98%) - June 12th

🔓APT (1.79%) - June 12th

🔓ATH (71.96%) - June 12th

🔓IMX (1.33%) - June 13th

🔓CYBER (2.08%) - June 14th

🔓CONX (308.98%) - June 15th

🔓VANA (8.63%) - June 15th

🔓STRK (3.79%) - June 15th

🔓SEI (1.09%) - June 15th

🔓ARB (1.9%) - June 15th

🔓PSP (0.83%) - June 15th

Launches & Updates

Note that these launches are mostly unvetted by the Dynamo DeFi team and this isn’t an endorsement of any of them.

🚀 DIA genesis staking unlock - June 9th (Source)

🚀 Sonic chain integration on Reactive network - June 10th (Source)

🚀 Defi app token release - June 10th (Source)

🚀 Stratis masternode contract activation- June 11th (Source)

🚀 Huma 2.0 deposits open for public - June 11th (Source)

🚀 Baibysitter launch on Virtuals - June 12th (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