Daily Notes: 03-07-2023
Developments
Revolut Delists SOL, ADA, MATIC
According to an email, if Revolut customers do not sell their current holdings in MATIC, SOL, and ADA before September 18, Revolut will sell the tokens on their behalf.
These tokens will be sold at the prevailing market price during the sale, and the resulting proceeds in USD will be deposited into the customers' Revolut accounts.
CME ETH Options Open Interest Reaches ATH
ETH options OI on the CME has reached an all time high of $245 million. This comes after futures OI on BTC reached yearly highs last week. It broadly shows that institutions are becoming active and interested in the asset class again.
GMX Trader 0x61 Gets Liquidated
GMX Trader 0x61 had a 7x leveraged ETH short of $12 million on GMX that he kept adding collateral to in order to keep it open as you can see from the orange dots. Yesterday, he was liquidated at $1955 for $1.8 million.
Undeterred, 0x61 has now opened a new ETH short with 30x leverage (size $1.46 Mil) which will face liquidation at around $2000 ETH.
Umami Vaults
Umami’s Deconstructed GLP Vaults, which aim to generate delta-minimized returns on assets including USDC, BTC and ETH, are open to the public! Initial TVL caps will be:
USDC: 500K, ETH: 250K, BTC: 200K, UNI:25K, LINK:25K
Trending Assets
Above $100M MC by performance
PEPE, BIT, BONE, FXS, MKR and OX are all up double-digits over the past day.
Notably, MKR is up 34.93% over the past week, possibly due to a repricing based off their revenue increase, and BIT is up 23.06%, likely due to recent Mantle proposals to burn supply.
Above $1B MC by performance
GRT, ATOM, MATIC and LDO are the top performers of the day. Notably, GRT is up 15.10% over the past day, and is up 21.96% over the past week.
Coingecko Trending assets
Apecoin
Matic
Pendle
Pink BNB
Silo Finance
Curve
Verge
Trending Contracts
Nothing particularly notable in regard to trending assets. Despite the downturn on NFT volumes, Seaport (Opensea) and Blur have been top gas consumers on Ethereum.
Stablecoin Netflows
Stablecoin Chain Flows
Nothing much of note here, only thing to highlight would be the difference in the two leading optimistic rollups today with Arbitrum seeing a net inflow of stable and Optimism seeing a net outflow of roughly the same size.
TVL
Top 10 TVL Gainers
Umami gained $1M in TVL with their recently launched vaults. Morpho gained $29M in TVL.
