DeFiWarhol

L1 launches from 2025-26 have terrible TVL retention.
Let me show you the real picture:
→ @berachain: $3.3B peak, $74M now (-97%)
→ @SonicLabs: $1.14B peak, $34M now (-97%)
→ @plumenetwork: $299M peak, $11M now (-96%)
→ @StoryProtocol: $45M peak, $352K now (-99%)
→ @initia: $42M peak, $4M now (-90%)
None could retain capital once incentives ran out.
That liquidity rotated straight into stablecoins, Ethereum, @HyperliquidX, and @base.
Not all L1 launches during this period were bad, though.
For example, TVL in projects like @monad, @megaeth, and @Plasma is steadily growing.
Future L1s need to e

I pulled up some yield-bearing token distribution by holder count.
Used a mixed @DeFiLlama filter:
Liquid Staking + CDP + Restaking + Algo-Stables
So this isn't a pure LST ranking ↓
@LidoFinance | STETH | 600,467 | liquid staked ETH
@lista_dao | SLISBNB | 374,728 | liquid staked BNB
@BenqiFinance | SAVAX | 70,885 | liquid staked AVAX
@overnight_fi | USD+ | 63,875 | yield-bearing stablecoin
@Coinbase | CBETH | 54,465 | liquid staked ETH
@InfraredFinance | IBERA | 31,547 | liquid staking on Berachain
@staderlabs_eth | ETHX | 30,780 | liquid staked ETH
@Kinetiq_xyz | KHYPE | 27,957 | liquid staki

KAST is absolutely dominating on Solana.
It accounted for almost 50% of the entire payment volume in March.
Interesting to see how this is gonna change after Phantom rolls out their card internationally.

If I had to keep size in one lending protocol today, I already know what I'd pick.
What about you?

Bots are the only traders consistently making money on @Polymarket.
Here are some key insights from Parity:
1. The traders:
• 2.4M total traders
• 31% are profitable
• 53% lost between $1-$100 and never came back
2. The bots:
• 5,785 bot accounts have ~40% of all volume
• Combined PnL from bots is +$104M
3. The biggest losers:
• 35 traders each lost over $2M
• 28 quit the platform
• 7 are still trading
Prediction market or not, the outcome distribution looks exactly like every other trading venue.
Remember this if you're thinking about trading prediction markets.
Data from @PredictParity.

I'm ranking the top VC portfolio announcements.
S/o to everyone backing “exceptional builders”

Are we in perfect entry zone rn?
This chart is one of the simplest bear market indicators for BTC.
green = oversold
red = overbought
It shows when BTC is close to its long-term average price and when it’s running too far above it.
When BTC trades around or below the green line → historically this has been a strong accumulation zone.
Last green zones weren't perfect bottoms, but still some of the best long term entries on the chart.

BLACKROCK IS BUYING HUNDREDS OF MILLIONS IN BITCOIN AND ETHEREUM TODAY

Why is Brazil a top country for @ether_fi usage?
Pretty simple.
I think a lot of people there see EtherFi more like a crypto neobank than a DeFi protocol.
→ Move local money in through PIX
→ App converts it to digital dollars
→ Either spend it or park it inside EtherFi
To me, the appeal is obvious because it gives people a cleaner way to move money, get dollar exposure, and use crypto in a way that feels practical.
I like seeing crypto solve real money problems.

This bear market feels different from previous cycles.
In 2015, people were asking if crypto would survive.
In 2026, most people already know it survives, but there's still uncertainty around what comes next.
Maybe we can't predict it and that's fine.
For now, I'm sticking to fundamentals and what's actually happening.
- Nvidia saying we're in AGI.
- AI agents are everywhere.
- Still a lot of underrated teams building cool things.
But the market barely cares.
Why?
Money rotated into safer stuff no one gets excited about:
→ BTC dominance at 57%
→ $315B in stablecoins sitting risk-off
→ Of last

Etherfi is now generating more revenue from Etherfi Cash (card) than all other verticals combined.
Crypto cards are one of the best cash cow businesses in crypto (along with perp DEXs).
I'm sure revenue streams for crypto cards & neobanks will 10x over the next 12–24 months.

Lets talk about some of the narratives that died ↓
Step2Earn: 2021 - 2022
Play-to-Earn / GameFi 1.0: 2021 - 2022
Metaverse: 2021 - 2022
LSTs / LSDfi: 2023 - 2024
BRC-20: 2023 - 2024
SocialFi: 2023 - 2024
ERC-404: 2024 (one year fad)
Anyone still here?

I made a chart