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- #17 The Sixth Sense - 12th June, 2023
#17 The Sixth Sense - 12th June, 2023
Your daily dose of on-chain alpha.
The Sixth Sense
June 12, 2023
Welcome to the 17th issue of The Sixth Sense. Let’s figure out the major events, catalysts, narratives brewing in the on-chain ecosystem.
On-chain Metrics, statistics and standings:
TVL increased marginally in the on-chain ecosystems climbing from $42.5B to $43.1B:
(Source: https://defillama.com/chains)
Apecoin, dydx have some major Token Unlocks this month:
(Source: https://defillama.com/unlocks)
Ethereum Money Supply increased to off-set low demand for blockspace:
(Source: https://ultrasound.money/)
Moving on to the major events in the on-chain economy:
a16z expanding to UK:
Big news to share: @a16z is expanding to the UK 🇬🇧
We plan to open our first international office in London later this year, and will host the next Crypto Startup School there in 2024.
Why the UK? 👇
— cdixon.eth (@cdixon)
11:05 PM • Jun 11, 2023
UK PM Rishi Sunak on plans for blockchain:
Statement from UK prime minister Rishi Sunak on a16z’s expansion to the UK:
— Frank Chaparro (@fintechfrank)
11:58 PM • Jun 11, 2023
BTC vs other assets:
Big red candles mean back to basics
here's a comparison of bitcoin against other popular assets
— jay (@0xjaypeg)
3:03 AM • Jun 12, 2023
Sturdy Finance hacked:
1/ @SturdyFinance was attacked and the loss is ~442 ETH. The root cause is due to the typical Balancer's read-only reentrancy, while the price of B-stETH-STABLE was manipulated!
— BlockSec (@BlockSecTeam)
2:35 AM • Jun 12, 2023
$200M+ worth of $BNB waiting to be liquidated on-chain:
The liquidator address 0x5630 has received $30M $USDT from #Binance, which will be used to repay the BNB Bridge Exploiter's debt in #Venus when the $BNB price falls below $220.
The address currently holds 30M $USDT and 30M $BUSD
Address⬇️
watchers.pro/address/0x5630…— 0xScope (🪬 . 🪬) (@ScopeProtocol)
7:35 AM • Jun 12, 2023
$1B worth of USDT issued on Ethereum:
gm
This morning, $1 Billion USDT was minted to the Tether Treasury.
This was an inventory replenishment to support chain-swaps and customer deposits.
— Arkham (@ArkhamIntel)
11:19 AM • Jun 12, 2023
Sequoia and their web 3 investments:
Sequoia Capital has $85 BILLION in assets.
They have >$15B invested in Crypto across 8 Funds and is by far one of the most prominent VCs.
Here's what @se@sequoia looking at in 2023
🧵👇 htt
— Surf (@0xsurferboy)
11:00 AM • Jun 12, 2023
LSD markets, LSDfi:
1/ The #crypto market took a hit this week, but LSD summer is still going strong. It's been two months since Shapella and staked ETH continues to grow to ATHs.
Here is LSD Summer Volume II to get you up to speed on the latest.
🧵👇— StableScarab🪲(¤,¤) (@StableScarab)
6:46 PM • Jun 11, 2023
Ouroboros on $FXS:
Picked up some $FXS at these levels too.
1) Nuked OI ✔️
2) Negative Funding ✔️
3) Low Inflation / Unlocks ✔️
4) Catalyst ✔️- frxETH v2 + Frax v3
5) Value Floor ✔️- Buybacks signaled and not far from prev $20mn buyback price of $4Still going down list of coins to find more of… twitter.com/i/web/status/1…
— Ouroboros Capital (@OuroborosCap8)
9:08 AM • Jun 12, 2023
Mantle, $BIT:
A couple days ago we announced the launch of our newest product, 'Analyst Insights', where we identify interesting opportunities and produce actionable reports for you.
We already have 7 Insights live on the platform.
Our latest Analyst Insight: Mantle
— Revelo Intel (@ReveloIntel)
3:05 PM • Jun 11, 2023
Chainlink guide:
6.18 trillion dollars flowed through @chainlink this year.
Out of the loop?
This is your Ultimate ChainLink guide.
A mega 🧵
— naly (@defi_naly)
6:34 PM • Oct 11, 2022
Arbitrum bridge; now one of the largest $ETH holders:
The @arbitrum (foundation and decentralized dao) bridge now has over 1.1m eth
— Size Chad (@SizeChad)
2:06 PM • Jun 11, 2023
Bring back the Arbitrum season:
I'm calling it.
Arbitrum season is coming.
Powered by the $ARB incentive program.
Here are my top pics for when the $ARB growth program will be used to dominate the L2 space.
1/8🧵
— Charles 🦇🔊 🐳 (@c_storry)
10:02 AM • Jun 12, 2023
HyperLiquidX clocking some serious volumes:
Order book perpetual DEX @HyperliquidX reached a $2.8B trading volume in a single day, surpassing both @dYdX and @GMX_IO.
Interestingly Hyperliquid is still in closed beta on its Hyperliquid L1.
Could this be wash trading 👀?
— vanillacream.eth ⛩ 🫘 (@0xvanillacream)
5:09 AM • Jun 12, 2023
crvUSD climbing new heights every day:
$crvUSD - Now $10m in TVL on Conic 🎉
In just two days since launch, the $crvUSD Omnipool now holds 38% of the total $crvUSD supply.
— Conic Finance (@ConicFinance)
4:16 PM • Jun 11, 2023
DWF selling altcoin positions:
According to Lookonchain, addresses marked as DWF labs have transferred a large number of altcoins to CEX in the past few hours, including 4.25m CEEK, 300m LABS, 40m POND, 6,250 TIME, 1.54m UNO, 2.5m IXS, 438k DFYN, 500k GF, 7.26 m TOKO, 50m APM, and 40k AUCTION totaled about… twitter.com/i/web/status/1…
— Wu Blockchain (@WuBlockchain)
10:51 AM • Jun 12, 2023
Gib me the honey:
within chaos' embrace, a carnival unfolds,
THJ's mystique, a story yet untold,
Whispers of secrets, in enigmatic delight,
Where truth and revelry intertwine, alightjoin us at carnival on tuesday, june 13, and experience our next mint go live -
honey jar gen 2! 🍯🐝— the honey jar 🍯 (@0xhoneyjar)
7:19 PM • Jun 11, 2023
Mav Protocol achieving new ATHs:
.@mavprotocol just saw its largest single day volume since launch.
Probably nothing.
— Emperor Osmo🧪 (@Flowslikeosmo)
12:00 AM • Jun 12, 2023
ETH withdrawals and staking queue:
The biggest $ETH withdrawals are coming fromCEXs
- Coinbase 31K
- Bitstamp 15KAll while Lido continues to gain market share.
— Emperor Osmo🧪 (@Flowslikeosmo)
2:00 PM • Jun 11, 2023
Level Finance clocking ATH fees:
$LVL just had its biggest fee candle ever
ATH in fees yesterday, $535k raked in for the protocol
Perp dexs make money no matter what direction price moves
crypto is full of gamblers who want to be able to use leverage without KYC
perp dexs are probably best r/r nich
— Tom 🫐🦇🔊 (@Cryptopleb4)
6:51 AM • Jun 11, 2023
MUX Protocol:
1) Andrew Kang has a net worth of multiple 100 million dollars and is known to be a leveraged trader.
Recently it was revealed he's trading frequently on @muxprotocol.
What is this platform all about? 🧵👇
#ad
— Crypto Nova (@CryptoGirlNova)
12:19 PM • Jun 12, 2023
Penpie IDO dropping:
$PNP IDO's dropping in under 10 hrs - faster than a hot potato!🔥👀
Dust off your $ETH & gear up to get $PNP on the @Cam@CamelotDEXnchpad!✅🏃
Whitelist Sale:⬇️
🗓️June 12th
⏰12 PM UTC
📍httpapp.camelot.exchange/launchpad/penp…NP#PNPO#IDOu#LaunchpadF#DeFip— Penpie (@Penpiexyz_io)
2:05 AM • Jun 12, 2023
Thena Fi:
GMX 24h volume - $228m
Fees - $250k
30% X $400m market cap = $75,000 to stakers (0.0001875)If ALPHA takes 10% of GMX volume
$22.8m vol generates $13k fees
$9.3m $veTHE market capALPHA perps return >7X fees to $veTHE than GMX!!!
Oh + bribes and fees > 100% APR moar https:
— thenascribe 🔱 (@thenascribe)
5:47 AM • Jun 11, 2023
GMD Launchpad updates:
Latest Enhancements to GMD Launchpad Model:
- Fee Adjustments for Increased Effectiveness
- Introduction of GMD Incubator
- Queue System
- Adjusted Allocation MarketplaceRead More 👇👇
twitter.com/i/web/status/1…— GMD Protocol (@GMDprotocol)
9:53 AM • Jun 12, 2023
Some quality Notion aggregation:
Notion pages are goldmines ⛏️
An astronomical quantity of crypto knowledge and alphas are stored there for FREE!
Here are 5 pages you must bookmark 🧵
— Louround 🥂 (@Louround_)
5:54 PM • Jun 11, 2023
Some Fungi gyan:
The Fungi Alpha Weekly DeFi Update 🍄
(June 12th 2023)
🔵 SEC after Binance again...
🔵 ...while OKX is burning $240M+
🔵 Tether max bulla on BTC
🔵 crvUSD ready to skyrocket
🔵 & more!Carefully curated DeFi (and some other) news in 5 minutes of reading ⬇️ http
— Fungi Alpha (🍄 ,🍄) (@FungiAlpha)
11:54 AM • Jun 12, 2023
And that’s a wrap for the today. The Sixth Sense is a reader supported project. Consider subscribing to our newsletter to receive our daily dose of alpha in your inbox.
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