Public Releases


July 16th, 2021

Major coins held steady or fell this week, with the obvious exception being Axie Infinity’s $AXS token. AXS was the best performing coin of the week and saw explosive growth over the past month.

If you’re feeling FOMO—and our previous reports on Axie weren’t enough to dive into the project—well, you’re still in luck. Delphi’s Yan Liberman appeared on Venture Coinist this week and explained Axie Infinity from the ground-up. After that, you can jump into our numerous reports (including a brand-new update we published this week).

In Delphi news, we officially became the world’s first company to set up salary streaming on Superfluid. Now, our colleague Jeremy is getting paid every second, marking an exciting first and illustrating crypto’s potential for real-time payments. On the podcast side, we sat down with the founders of ZapperPerpetual, and Universe. Plenty of alpha to dig through over the weekend.

Stay degen,


Here were the highlights from this week’s research:

[Research Report] Axie Trends Toward Infinity

  • Strong player growth and a booming game economy have resulted in Axie becoming the most profitable dApp in crypto. If the current trend continues, we estimate that ~69% of the AXS circulating supply could end up in the treasury by YE.
  • Delphi Institutional subscribers & clients can see the full brief here.

[Delphi Daily] Bitcoin Rundown: Market Indecision, Legacy Correlations, And a Lightning Boost

  • Crypto assets did not take well to yesterday’s inflation data. After a trip towards the range low, BTC and ETH are finally finding a semblance of strength. Other crypto assets have continued to take a beating into today’s session.
  • Delphi Daily subscribers & clients can see the full brief here.

[Bitcoin] Range-Bound Bitcoin, Opportunity or Bull Trap? (July ’21 Outlook)

  • Despite our long-term conviction, it seems bitcoin’s struggles may continue in the short-term barring an unexpected catalyst or drastic change in policy.
  • Delphi Insights and Institutional subscribers & clients can see the full brief here.

[Delphi Daily] Speculators vs. Hodlers, OpenSea Dominance, Uniswap LP Returns

  • We’re starting to see an interesting pattern in crypto markets: buyers float in and push price up during the Asia session, sellers come out from behind the curtains and push the market lower during the London session, and New York wakes up to buy the dip. The same pattern has occurred for a few days now.
  • Delphi Daily subscribers & clients can see the full brief here.

[Delphi Daily]​​​​ Bitcoin Futures, DeFi Hopium, and the NFT Resurgence

  • BTC opened fairly strong as the Asia session began, but the London session wiped out those gains, and the weekend’s, in a few hours. Crypto assets like SNX, AXS, and LUNA (amongst others) enjoyed a strong weekend. It looks like capital flows into crypto are beginning to pick up again, but they’re still not nearly as aggressive as the bulls would like.
  • Delphi Daily subscribers & clients can see the full brief here.

[Yield Strats] Yield Strats #18

  • In this week’s edition, we cover yield farming opportunities for Illuvium and Popsicle Finance on Ethereum.
  • Delphi Insights and Institutional subscribers & clients can see the full transcript here.

Delphi Daily Of The Week

[Delphi Daily] AXS Shorts In The SAND, Ethereum’s Asymmetric Gas Trends

  • BTC and ETH are heading back into the range low as sellers chose violence in every session (Asia, Europe, and NA) today. Another move to the range lows is far from ideal, and increases the probability of another leg lower (which we analyzed here). Crypto sweethearts AXS and SAND had another monster day, but have retraced a decent chunk of their moves since.

Get The Full Daily for Free

Featured Podcast

Jose Maria Macedo and Jonathan Erlich sit down with Yenwen Feng and Nicholas Tong to discuss all things Perpetual Protocol, the largest decentralized perpetuals trading platform by volume. They explore Perpetual’s success to date and dive into all the details behind the upcoming Perpetual Protocol v2.

The Delphi Podcast Host and GP of Delphi Ventures Tom Shaughnessy hosts Seb Audet, co-founder of Zapper to discuss user growth, benefits to offering DeFi education, integration speed, communities without a token, and more.


As mentioned, we will continue to iterate on the design of our Delphi Debrief based on your feedback—so please let us know which section you enjoy the most and what else you’d like to see!

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