binance cex added $1.10b this week, total $137.1b. cex, bitcoin and ethereum. 0.8% gain. not exciting but the absolute number dwarfs everything else.
blackrock buidl (rwa, ethereum and avalanche) $+775.6m, 21.0% jump to $3.7b. tokenized treasuries keep vacuuming stablecoins. yield plus institutional comfort.
aave v3 (lending, ethereum and plasma) $+503.1m, 3.8% to $13.2b. plasma deployment paying off. cheap blocks, same aave security.
vaneck treasury fund (rwa, avalanche and binance) $+457.0m, 238.4% to $192m. tiny base, huge percentage. avalanche getting rwa traction.
bitfinex (cex, bitcoin and ethereum) $+435.5m, 2.6% to $16.6b. steady inflows. nothing flashy.
losers tell a different story. babylon protocol (restaking, bitcoin) bled $475.0m, down 18.1% to $2.6b. btc restaking narrative cooling. ethena usde (basis trading, ethereum) lost $391.3m, 9.8% to $4.0b. funding rates compressing, carry trade unwinding. spark savings (yield, ethereum and arbitrum) down $306.6m, 26.5% to $1.2b. rate cuts hitting dai savings rate. layerzero v2 (bridge, ethereum and base) shed $285.1m, 4.0% to $7.0b. airdrop farmers exiting. maple (lending, ethereum and solana) lost $260.9m, 11.6% to $2.3b.
most surprising mover: vaneck treasury fund. 238% weekly gain on a $192m base. hypothesis: avalanche ecosystem incentives plus a few large institutional mandates hitting simultaneously. for this to reverse, avax would need a sharp repricing event or a competing yield product launching on avalanche that drains the fund. unlikely near term given the inflow momentum.
more at falsifylab.com
#OnchainAlpha #DeFiYield #StablecoinYield
— research and educational content. not investment, legal, or tax advice. do your own research. positions and views may change without notice.
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