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.

Three weeks post-launch, @xStocksFi trading shows a clear trend. → Weekend volume of onchain stocks consistently drops to 30% or less of prior weekday volume

ETH, USDT and USDC account for 90% of CEX inflows and outflows on EVM chains.

New all-time high for ETH and ETH derivatives on @aave.

To put @Tether_to size in perspective, its circulating market cap (~$160B) would rank it around #17 among foreign holders of U.S. Treasuries, just behind Norway and ahead of Saudi Arabia, UAE and Germany. Tether holds ~81% of its reserves in U.S. T-Bills.

This power law holds on the revenue side too. Aave’s YTD protocol revenue is 1.6x larger than the combined revenue of all other major DeFi lending protocols.

DeFi lending TVL just hit a new all-time high of $92B in net deposits, making it the largest category by TVL in DeFi. Much of this growth is driven by Aave, which alone holds more TVL than the next nine largest lending protocols combined.

Initialized @Uniswap v4 hooks have been growing steadily since launch, with nearly 2,000 initialized and volume rising since late June. → @Base led early usage, mainly through @bunni_xyz and @flaunchgg. Today, @unichain represents 61% of hooks volume, and Ethereum 34%. → Two projects account for about 80% of recent hooks volume, both using rehypothecation models: Bunni and EulerSwap. - Bunni allows LPs to deposit tokens while providing liquidity, earning lending interest alongside swap fees. → The top Bunni LP on Unichain (USDC/USD₮0) has $67M TVL, with $59M rehypothecated into Euler’s USDC market. This represents 64% of that vault and 26% of all Euler deposits on Unichain. - EulerSwap integrates lending vaults so LPs can earn swap fees, lending yield, and use positions as collateral for borrowing. Both hooks aim to improve capital efficiency by combining trading, lending, and collateral use in a single pool.

This chart makes it clear how 24/7 markets impact the trading business by expanding the trading window. It compares onchain Tesla (TSLAx) vs. TSLA on NASDAQ. The grey areas show when NASDAQ is closed. Onchain markets run 24/7 (168 hours/week) vs. NASDAQ’s 32.5 hours. Tokenized stocks offer 5x the trading hours.