In today’s newsletter:
🔎3 tools for tracking narratives
📊On-chain alpha
😂Crypto meme of the week
🗞️The latest DeFi news
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🔎3 tools for tracking narratives
Being successful in crypto is all about betting on the right narratives.
Some tokens (that can be considered overvalued by all metrics) can still pump and continue being top performers, while other undervalued tokens (but which get no attention at all) continue to underperform.
I’ve seen this happen over and over again. This is because crypto is an attention game. To make money here it’s crucial to bet on projects related to hot narratives.
With this in mind, in this issue, I wanted to cover 3 relatively new tools that you can use to monitor what’s trending in the market.
Let’s dive in 👇
1. DefiLlama’s Narrative Tracker
If you’re relatively new to crypto, DefiLlama’s Narrative Tracker is probably the best tool for you from this list as it’s the easiest one to use.
A few ways how you can use it:
Track the categories that have performed the best over a certain period
Click on a category (e.g. RWA) to see:
→ the top projects from that category
→ the recent performance of their coins
Check which categories have the largest or smallest total market cap
2. Kyle’s Sector Performance Watchlist
@0xkyle__ open-sourced his sector performance watchlist a week ago, which can be very useful for those who want to track the performance of major tokens.
In order to be able to use it properly, you have to do a few things:
Make a copy of the google sheet
Install the Artemis Excel Plugin in order to run the commands
Then you should be able to edit it as you want. To see the performance of the crypto sectors on a certain date, you’ll have to edit the input date in the yellow cell.
Based on the performance of the major tokens from each sector, you can decide which ones are worth paying attention to.
Ideally, you wanna place your bets on projects from a sector that has been consistently in the spotlight over the past months.
3. DYθR’s Alpha Screener
Alpha Screener is a dashboard that calculates the relative strength of the crypto narratives and of the top coins under every crypto narrative.
It includes a lot of useful charts that show:
The performance of all coins against BTC
The relative strength of crypto narratives over the past months
The top-performing tokens related to every narrative
For monitoring which tokens are holding well in comparison with their competitors during downtrends, this is the main dashboard I use.
I hope you found these tools useful.
If you have no idea what project you should research next, I suggest trying to find some interesting ones using these tools.
Not all coins that performed well lately will continue to do so.
But in every bull market, there are several tokens with both solid fundamentals and pumpamentals that outperform the market through the entire cycle.
These are the ones to look for.
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On-chain Alpha🔎
USDT is now doing 1/3 of Visa’s settlement volume
Haters will say that crypto has no use case.
This chart proves otherwise.
Stablecoin have certainly found product-market fit, as they enable anyone to move funds to any place in the world at any time without requiring KYC.
Crypto Meme😂
The latest developments in DeFi
Eigenlayer introduced permissionless token support for restaking
Kelp DAO launched Gain, a 1-click airdrop farming product. With Gain, you can automatically farm multiple L2s & restaking airdrops at once
Optimism revealed plans to unify Superchain L2s with an Interoperability Layer. This would enable seamless cross-chain token transfers across these L2s
Fluid went live on Base and released a set of vaults with the highest liquidation thresholds on the market. 100k OP incentives will be distributed to its users on Base
pSTAKE Finance revealed their plans, which includes launching a yield BTC token, a tokenomics revamp, and a new points program
Aurelius Finance’s AO token auction went live on Axis. Aurelius is a next-generation lending protocol on Mantle
Kujira teamed up with Thorchain, making THORChain the platform for Kujira’s DeFi suite of products
Persistence One introduced its refreshed branding. Persistence’s goal for the next months is to become the premier platform for BTC cross-chain swaps
NEAR Protocol launched Chain Signatures. Chain Signatures unlocks bridgeless Omnichain DeFi for NEAR Account users
Arbitrum Orbit chains can now use USDC as a gas token
dYdX announced dYdX Unlimited, its biggest upgrade yet. dYdX Unlimited will come with Permissionless Market Listings, a master liquidity pool and more
Symbiotic devnet went live, with the mainnet launch being scheduled for Q3
Renzo introduced ezSOL, Solana’s first liquid restaking token on Jito
Radiant’s Innovation Zone went live on Arbitrum, enabling a faster and broader asset listing on the money market
That’s all for this week!
Until next time,
The DeFi Investor
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