Looking for Alpha on-chain: which are the fastest-growing protocols? What are the current trends and narratives?

Which on-chain protocols are growing fastest? What are the current trends and narratives?

Encryption analyst The DeFi Investor finds the fastest-growing protocols by analyzing current on-chain data and analyzes current trends, narratives, and the latest smart money capital movements.

Fastest Growing Protocols: 1) Lybra Finance, $LBR has been on the rise lately, with its TVL increasing from $16 million to $160 million within 3 weeks. 2) GND Protocol, launched at the end of April, reached a TVL of $42 million in less than 2 months. 3) Asymetrix, a protocol that distributes asymmetric yield for staking, launched a month ago and quickly reached a TVL of $13 million.

Trends and Narratives: 1) LSDfi remains the hottest DeFi narrative. Frax’s $frxETH and RocketPool’s $RPL had the largest TVL increases among top players. Swell is the fastest-growing new protocol, but it doesn’t seem very innovative. 2) Across the chain, daily transfer volume of cross-chain bridges has grown from less than $20 million a few months ago to nearly $150 million yesterday, with Stargate being the main beneficiary. Stargate is a composable liquidity transfer protocol supported by LayerZero. The reason for the increase in transfer volume may be due to the rumored airdrop from LayerZero. Nevertheless, LayerZero technology has powered many cross-chain applications.

“Smart Money” Fund Flow: The most widely held token among the top 100 smart money addresses marked by 0xScope seems to be $RNDR, the rendering token, which has outperformed the market significantly in the past few months, up fivefold since January. VC public wallet addresses have been quiet in the past few weeks. However, most of them seem bullish on the LSD narrative. Some of the largest crypto VCs, including Blockchain Capital, Dragonfly Capital, and Blockchange Ventures, hold tokens of at least one LSD protocol.

Reference: https://twitter.com/TheDeFinvestor/status/1663211641654202370

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