Crypto-native research firm. Dive Down the Rabbit Hole of Blockchain and Crypto: @cryptoprag

Valhalla
Joined August 2021
Uniswap continues to lead with $25.36M in weekly fees—but the real surprise? Cardano’s Strike Finance pulled in $18.67M, outperforming major Solana DEXs like Raydium and Jupiter. Not often we see Cardano DeFi making noise 👀
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🔥 Weekly DEX volume just crossed $85B — the highest in nearly a year. Uniswap is leading the charge, fueling a massive spike in altcoin + memecoin trading. On-chain liquidity is back—and so is the appetite for risk.
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Sui’s shipping speed isn’t just fast — it’s relentless. Over 21.7K code commits in the last year, with a surge in dev activity since late 2024. The builder base is dialed in: infra, tooling, core primitives. No fluff, just execution.
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📈 Stablecoin flows are shifting—and fast. Hyperliquid just saw a +20.56% surge in stablecoin market cap, blowing past Ethereum, Solana, and every other major chain.
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Bitcoin’s on-chain volume (7DMA) just surged past $65B after weeks of dormancy. This spike may be signaling a new phase of market engagement—these inflection points have historically preceded larger directional moves and broader capital deployment.
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Pumpfun just posted $20.2M in weekly fees—overtaking Uniswap and Tron. Despite the recent cooling of memecoin hype, it now ranks just behind PancakeSwap and continues to monetize speculative flow with consistency. Staying power is real.
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Retail appetite for memecoins has collapsed—Google search interest is down over 80% from the December peak. With traffic now back to mid-2024 levels, the cycle looks to be resetting. A fresh speculative wave could be next.
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Hyperliquid L1 has reclaimed momentum. TVL has surged to ~$941M—nearly doubling since late March. With $3.5B+ in daily perps, $763K in app revenue, and $2.6B in bridged liquidity, it's rapidly reestablishing itself at the core of DeFi’s trading infrastructure.
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🚀 Sui’s NAVI Lending just blew past $614M TVL—up from ~$400M in April. With $160M borrowed and $11.5M in fees generated, it’s solidifying its spot as a Sui DeFi powerhouse. Supports SUI, USDC, wETH, wBTC + flash loans, isolated markets, and cross-chain lending soon.
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📊 Capital rotation this week flowed straight into Arbitrum, leading with $59.8M in net inflows 🚀 Protocols like Hyperliquid and Ostium are driving traction, while chains like Ethereum, Base, and Polygon saw outflows. L2 liquidity is shifting—fast.
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🚨 Solana’s DEX volume just flipped Ethereum again — soaring past 200% of ETH's weekly share after weeks of silence. While the 500% January peak still stands, this rebound signals a fresh wave of DeFi launches and retail momentum returning to SOL.
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📈 Sui's TVL has exploded past $2.14B — a clean breakout from the March-April range. 24h stats: • DEX volume: $437.6M • Perps: $46.4M • App revenue: $203K+ Ecosystem growth is accelerating with capital pouring in.
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New token launches are exploding again on Solana. In the past month alone, Solana has outpaced all other chains in fresh DEX listings — with Base trailing in second. Meanwhile, Ethereum, BNB, and Polygon are seeing steady but far lower deployment activity. Memecoin momentum? Still SOL. 🧪📈
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📉 Exchange volume has dropped back below $50B, erasing the entire ETF-fueled rally from January.
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📊 Ethereum regains dominance. Over the past 7 days, ETH saw a massive $185M net inflow, as capital rotated out of OP Mainnet, Berachain & Arbitrum. Unichain followed as a surprise gainer, while ETH inflows hit $950M. L1 rotation is back on.
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🚨 Bot activity is shifting again. After a brief surge, BSC’s momentum is fading, and Solana is back on top — dominating bot-driven trading with nearly 88% of total activity in the past 14 days.
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🚨 Solana protocols are dominating the fee leaderboard once again. 📊 5 of the top 10 fee-generating platforms this week are Solana-native. 🥇 Jupiter: $21.03M 📈 Pumpfun: $17.12M 🔥 Jito, Meteora, and Axiom also holding strong. DeFi and staking demand is not slowing down.
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🚨 Solana DeFi TVL is surging 🚨 Sanctum leads with a massive +39.3% 7D growth, followed by strong gains from: • Jito (+23.0%) • Binance Staked SOL (+22.3%) • Jupiter (+20.8%) • Raydium (+20.0%) Staking & DeFi are driving serious capital inflows. 📈
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🚨 Liquidity rotation in full swing: Avalanche leads with +16.06% TVL growth this week, followed by Solana (+12.92%) and Sui (+10.19%). As macro conditions stabilize, capital is flowing back into risk-on ecosystems — will the rebound hold? 👀
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Solana DEX Landscape Update: Raydium continues to dominate with a 41.9% share of DEX volume, while Orca (19.2%) and Meteora (15.4%) maintain strong secondary positions.
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