1/.Some of the topics we’ve been tracking lately + @Dune dashboards below:. → Shopify & Coinbase Commerce Payments Protocol adoption.→ Who’s generating money in crypto & the emerging verticals.→ Hyperliquid growth & revenue.→ Polymarket activity as signal & intel.→ USD₮0.

In the last 14 days, USDe supply jumped from $5B to $9.5B. Over 30 days, it’s up 77%, making it the 3rd largest stablecoin by circulating supply. The main catalysts of recent growth was the launch of Liquid Leverage on Aave. Currently, ~$6B of USDe and related derivatives are

A thread we wrote on the topic .

The visualisations below of the top contracts holding WBTC and cbBTC on Ethereum clearly show this effect.

Across all chains, @bunni_xyz and @AegisMarkets now lead @Uniswap v4 hooked pools with 36% of the volume each, followed by @zora with 15%. With the increase of volume on @zora in the last weeks the protocol emerged to the top in volume using @uniswap v4 hooks on @base (with +80%

To learn more about @ethena_labs liquid leverage on @aave read below: .

Ethena assets on Aave are approaching $5B, with close to $1B in net inflows over the past two days, the largest daily surges to date. → The main catalyst is Ethena Liquid Leverage on Aave. Users loop a 50/50 USDe/sUSDe collateral position by borrowing

Base has now surpassed Solana in daily token creation, mostly driven by Zora’s growth. DEX volume of Zora Coins has also spiked and this is a key metric since both creators and referrers earn a % of volume. Pareto dynamics are still observable, with a small set of tokens

DeFi has entered the interoperability era (already a while ago), where distribution through other frontends is becoming foundational. For deposits on lending protocols to generate yield, there needs to be capacity to absorb liquidity. Currently, no other protocol has the same.

This tweet refers to @zora Network used previously on the minting protocol. Currently activity happens on Zora Coins on @base, which is showing growth and can tracked in the @Dune dashboard below .

July is now the highest month on record for perps volume on @HyperliquidX, on track to surpass $300B. Recent days also saw daily revenue reach new highs.

4/ .Current @aave yields for EURC: .→ 4.94% APY on Ethereum .→ 3.74% APY on Base.Both exceed typical EUR rates offered by EU banks or neobanks. When paired with a positive or neutral EUR/USD outlook, EURC presents a differentiated risk-return profile.

3/ .While past performance doesn’t predict future returns, current EUR/USD forecasts lean neutral to bullish with analyst targets for EUR/USD by end-2025 range between 1.15 (neutral) and 1.33 (bullish). In that context, EURC can function as a modest hedge against potential USD.

2/.The performance difference is driven by two factors:. → APY spread: USDC yields slightly more.→ Price movement: EUR gained vs USD. Breakdown:.→ APY effect only: +1.3% (USDC) vs +0.9% (EURC).→ Price effect only: EURC +~8%.→ Combined effect: EURC +7% over USDC since March

1/ .EURC remains an overlooked opportunity in DeFi. Since March, it has appreciated ~12% vs USDC, mainly due to USD depreciation. Simply holding EURC would have outperformed holding USDC and supplying it for yield. But how does it compare when factoring in DeFi yield on both

Since launching perps on @HyperliquidX in the beginning of the month, @phantom generated ~$1M in revenue from builder codes.

NFT volumes on Ethereum hit their highest week since February, with @opensea capturing 64% of the market. Overall volume remains well below 2024 levels, but OpenSea continues to regain marketshare from Blur. Isolating OpenSea, this was among the #3 best week YTD.

Since April, DeFi net TVL has grown by ~$49B. Of that, @aave captured ~$15B, roughly 31% of the total increase. For every $10B added to DeFi TVL, Aave contributed $3B.