#12: Web3 in the green, Tron raising eyebrows

GM Architects,

FINALLY โ€“ the Arch Ethereum Web3 token ($Web3) rose over 1.02%, breaking the eight-week decline, similar to Bitcoin's uptick. Ethereum, on the other hand, fell by 2.6%.

TradFi stocks are still down while some cryptos recover

The U.S. added 390,000 new jobs in May, a higher-than-expected number. This shows the labor market and economy are still going strong despite the inflation pressure and recession conversations.

However, stocks slid at today's open with the threat of the FED's rising interest rates continuing to loom over investors' heads.

The Nasdaq Composite declined 0.4% this week. The technology-heavy index dropped 2.1% in May. Both the S&P and the Dow were roughly flat for the month.

In crypto, the sentiment was mixed. Ethereum continues its fall. Bitcoin traded slightly higher than last week, rising 1.4%, and medium-cap and small-cap cryptos had some strong rallies. The crypto market feels the same pressure as the rest of the risk assets, but it's showing some recovery from Terra's carnage.


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Who's the top chain? Tron is the new kid in town

Tron's recent rise prompted us to take a long view on the relative standing of the major blockchains /smart-contract platforms.

Network ranking, by market capitalization. Source: Coingecko, Arch Intelligence

The Big Three (plus two)

Bitcoin, Ethereum, and BNB remained virtually undisturbed in the top 3 during the past 12 months. Bitcoin's dominance (in terms of market cap) persists, hovering at 44% of the total market. Ethereum remains the undisputed leader in TVL with $68b at current prices, a full order of magnitude ahead of BNB at $8b.

Solana and Cardano, have been consistently shadowing BNB for the bronze, hogging the 4th and 5th spots for most of the period.

The Killing Zone: Avalanche and Tron tell different stories

In the fight for the top 5-10 by market capitalization, the meteoric rise Terra-Luna is naturally top of mind. Before bursting into the ether, pun-intended, Terra became the only challenger ecosystem to make it into the top 5.

Avalanche has established itself as a credible ecosystem almost out of nowhere, making it into the top 10 and into #4 by TVL, according to DeFi Llama.

While Avalanche's rise has been steady, Tron's recent climb is raising eyebrows

The Tron network is now #3 by TVL after surpassing $6b in TVL last week and is the only network to increase its TVL in the last 30-days. This is mainly explained by the explosion of the USDD Algorithmic Stablecoin, which can be staked for a 20%+ yield on JustLend (JST). Seriously? I think we've heard this one before โ€“ PTSD.

Network TVL. Source: DeFi Llama

Who's out

Bitcoin Cash and LiteCoin are out of the top 10, with Dogecoin remaining as the only Bitcoin clone to remain on the leaderboard. Polygon, facing increased competition in the L2/Sidechain/Scalability solution game is also out of the fold yet remains strong in the #6 by TVL.


๐Ÿ“ˆ Web3 rebounds during a mixed week for cryptos


The Arch Ethereum Web3 token had a positive week with several projects trading on the green. This week saw better returns for small-cap projects than blue-chip cryptos. Ethereum, for example, ย fell by 2.6% in the last seven days.

  • Synthetix (SNX) rallied over 28%, with bulls breaking the falling trend line. This comes after Optimism's governance token went live. Synthetix recently deployed functionality on Optimism.
  • Aave (AAVE) also saw an important uptick in its price. The token benefits from speculation that it will benefit from a more significant share of the DeFi market after Terra's crash.
  • Axie Infinity (AXS) was also one of the top performers after rallying by more than 20% on Monday. The price action comes after Axie Infinity developer Sky Mavis shared projects accepted into their Builders Program. This will bring user-generated content to the Axie ecosystem.
  • Uniswap (UNI), a protocol with a 75% market share of the DEX ecosystem, saw a slight surge in its price. This comes after the protocol passes $1 trillion in cumulative trading volume.

๐Ÿ‘ป Learn more about Aave


Aave is a decentralized lending protocol that allows users to participate through loans, flash loans, and interest-bearing tokens.

Aave is an open-sourced protocol built on the Ethereum blockchain and has become a key player in the DeFi ecosystem.

Aave's governance token has a market cap of $1.4 billion and allows users to vote on proposals that shape the protocol's future.

--> ๐Ÿ“š๐Ÿค“ Take a deep dive into Aave, a protocol part of the Arch Ethereum Web3 Token.


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Disclaimer: The opinions expressed are for general informational purposes only and are not intended to provide specific advice or recommendations. The views reflected in the commentary are subject to change without notice.