David Alexander II (@mega_fund) 's Twitter Profile
David Alexander II

@mega_fund

Partner @anagramxyz | prev MD @BinanceLabs, OG @ConsenSys | Research @MetricsDAO | Chaotic Neutral 🌑

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linkhttps://www.anagram.xyz/ calendar_today04-10-2011 04:20:12

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Billions liquidated in just a few days this week. Gone and never coming back. Meanwhile, lazy leverage on Hylo lets traders stay 2x-3x long $SOL with no liquidation risk. Deposits have nearly tripled in September, as the protocol now manages over 310,000 SOL ($67M). New

Billions liquidated in just a few days this week. Gone and never coming back. Meanwhile, lazy leverage on <a href="/hylo_so/">Hylo</a> lets traders stay 2x-3x long $SOL with no liquidation risk. 

Deposits have nearly tripled in September, as the protocol now manages over 310,000 SOL ($67M).

New
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Aster just settled $36B of daily volume, capturing more than half of all perp DEX activity. This also marks the third consecutive day of record-high perp DEX volume: $52.6B → $67.1B → $71.3B More interestingly, however, Aster is the first perp DEX to handle more weekly

Aster just settled $36B of daily volume, capturing more than half of all perp DEX activity. This also marks the third consecutive day of record-high perp DEX volume:
$52.6B → $67.1B → $71.3B

More interestingly, however, <a href="/Aster_DEX/">Aster</a> is the first perp DEX to handle more weekly
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Plasma has now seen over $1.3B of stablecoin deposits within the last 24 hours alone, more than any other chain combined. This pushes total stablecoin liquidity on Plasma to $3.9B in just 3 days. Absolutely wild activity, with lots of wild incentives 😈 h/t Artemis

Plasma has now seen over $1.3B of stablecoin deposits within the last 24 hours alone, more than any other chain combined. This pushes total stablecoin liquidity on <a href="/Plasma/">Plasma</a>  to $3.9B in just 3 days. Absolutely wild activity, with lots of wild incentives 😈 

h/t <a href="/artemis/">Artemis</a>
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“But by an anomaly common to a good many of the incredulous, although he did not believe in God, he was not very far from believing in the devil.” The Carpathian Castle, Jules Verne #megasprivatebookclub

“But by an anomaly common to a good many of the incredulous, although he did not believe in God, he was not very far from believing in the devil.”

The Carpathian Castle, Jules Verne

#megasprivatebookclub
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Amidst turbulent markets last week, $SOL experienced one of its strongest weeks of institutional inflows with over $291M pouring in. September inflows now stand at $628M—over 7x larger than $ETH. Meanwhile, $BTC (-$718M) and $ETH (-$409M) both suffered heavy outflows. October

Amidst turbulent markets last week, $SOL experienced one of its strongest weeks of institutional inflows with over $291M pouring in. September inflows now stand at $628M—over 7x larger than $ETH.

Meanwhile, $BTC (-$718M) and $ETH (-$409M) both suffered heavy outflows.

October
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Perp DEX activity has gone parabolic, settling over $106B of volume yesterday. That's more volume in one day than the entire weekly volume of any week prior to July 2025. More interestingly, however, is that Aster handled $88B of this. The protocol has now seen nearly

Perp DEX activity has gone parabolic, settling over $106B of volume yesterday. That's more volume in one day than the entire weekly volume of any week prior to July 2025.  

More interestingly, however, is that <a href="/Aster_DEX/">Aster</a> handled $88B of this. The protocol has now seen nearly
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Fiat-backed stablecoins have now set a new record in total circulating supply for 12 consecutive months, underscoring the relentless demand for onchain dollars. In September, supply grew by 8% ($18.5B) to reach $256B, growing by 62% ($97B) since September 2024 with new all-time

Fiat-backed stablecoins have now set a new record in total circulating supply for 12 consecutive months, underscoring the relentless demand for onchain dollars.

In September, supply grew by 8% ($18.5B) to reach $256B, growing by 62% ($97B) since September 2024 with new all-time
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Amidst all the new yield, UX, and distribution improvements, one thing has gone largely unnoticed: the sheer volume of real economic activity stablecoins now process. In September, stablecoins settled over $1 trillion of organic transaction volume—the first time ever. This

Amidst all the new yield, UX, and distribution improvements, one thing has gone largely unnoticed: the sheer volume of real economic activity stablecoins now process. In September, stablecoins settled over $1 trillion of organic transaction volume—the first time ever.

This
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Quietly, PayPal PYUSD circulating supply has surged 113% month-over-month to reach a record $2.54B. The stablecoin now settles more than $6B in weekly transfers. PayPal's recent integration with Spark has helped drive this growth, as the protocol already manages $485M of

Quietly, <a href="/PayPal/">PayPal</a> PYUSD circulating supply has surged 113% month-over-month to reach a record $2.54B. The stablecoin now settles more than $6B in weekly transfers. 

PayPal's recent integration with <a href="/sparkdotfi/">Spark</a> has helped drive this growth, as the protocol already manages $485M of
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Meanwhile, the total supply of stablecoins has surpassed $300B for the first time ever. That's effectively a top-50 GDP economy entirely onchain — larger than Greece (~$270B). Programmable money, all onchain, constantly at work for the end user, outpacing inflation, generating

Meanwhile, the total supply of stablecoins has surpassed $300B for the first time ever.

That's effectively a top-50 GDP economy entirely onchain — larger than Greece (~$270B).

Programmable money, all onchain, constantly at work for the end user, outpacing inflation, generating
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Nearly $6B flowed into digital assets last week, shattering the previous record set in July ($4.4B). One particularly interesting movement is that during the record-setting week in July, inflows were relatively balanced between $BTC ($2.2B) and $ETH ($2.12B). This time,

Nearly $6B flowed into digital assets last week, shattering the previous record set in July ($4.4B). 

One particularly interesting movement is that during the record-setting week in July, inflows were relatively balanced between $BTC ($2.2B) and $ETH ($2.12B). This time,
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Strategic reserves and ETFs now hold over 10% of the entire $ETH supply for the first time ever: 6.79M ETH ($31.71B) in ETFs 5.67M ETH ($26.48B) in reserves That's $58B worth of ETH removed from circulating supply. Buckle up.

Strategic reserves and ETFs now hold over 10% of the entire $ETH supply for the first time ever:

6.79M ETH ($31.71B) in ETFs
5.67M ETH ($26.48B) in reserves

That's $58B worth of ETH removed from circulating supply. 

Buckle up.
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Open interest on $BNB has swelled to an all-time high of $2.9B, more than doubling month-over-month. Meanwhile, the price of the underlying BNB has increased 46%. Tread carefully 😈

Open interest on $BNB has swelled to an all-time high of $2.9B, more than doubling month-over-month. Meanwhile, the price of the underlying BNB has increased 46%.

Tread carefully 😈
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In just the first week of October, $BTC ETF inflows ($4.37B) have already surpassed the entire months of September and August, combined ($2.78B). h/t Farside Investors

In just the first week of October, $BTC ETF inflows ($4.37B) have already surpassed the entire months of September and August, combined ($2.78B).

h/t <a href="/FarsideUK/">Farside Investors</a>
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BNB just realized $5.58M in daily fees, the second highest the network has had in the past 3 years. Meanwhile, daily $BNB trading volume has surged to $9.7B, the most since April 2021 ($10.4B). Perhaps more underindexed: there are now $14B of stablecoins in circulation, the

BNB just realized $5.58M in daily fees, the second highest the network has had in the past 3 years. Meanwhile, daily $BNB trading volume has surged to $9.7B, the most since April 2021 ($10.4B). 

Perhaps more underindexed: there are now $14B of stablecoins in circulation, the
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Deposits into Lighter have tripled month-over-month and now stand at $1.17B. Since mainnet launched on October 2nd, more than $432M has already poured in. In a very short space of time, Lighter is the 6th largest chain by USDC supply, behind only Ethereum ($45B), Solana

Deposits into <a href="/Lighter_xyz/">Lighter</a> have tripled month-over-month and now stand at $1.17B. Since mainnet launched on October 2nd, more than $432M has already poured in. 

In a very short space of time, Lighter  is the 6th largest chain by USDC supply, behind only Ethereum ($45B), Solana
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Over $9.5B ($8B long, $1.5B short) liquidated today, easily one of the worst crashes ever, and perhaps the second largest ever behind April 2021 ($10B).

Over $9.5B ($8B long, $1.5B short) liquidated today, easily one of the worst crashes ever, and perhaps the second largest ever behind April 2021 ($10B).
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Over $73B of open interest was wiped out yesterday, a 33% decline and resetting levels to their lowest since July. Meanwhile, futures saw record activity with over $748B in daily trading volume — the highest ever recorded.

Over $73B of open interest was wiped out yesterday, a 33% decline and resetting levels to their lowest since July. 

Meanwhile, futures saw record activity with over $748B in daily trading volume — the highest ever recorded.
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Over $910M (-15%) of stablecoin outflows on Hyperliquid since Friday's market crash, including a daily record of $656M on Friday. Lots of traders PACKED UP for the fall season 🍂

Over $910M (-15%) of stablecoin outflows on Hyperliquid since Friday's market crash, including a daily record of $656M on Friday. Lots of traders PACKED UP for the fall season 🍂