I just saw some on-chain data and I was completely stunned.
Today, the net inflow data on the Solana chain is really interesting.
JLP net inflow is $8.56 million, ranking first among all Solana coins. ONYC net inflow is $1.9 million, second. PUMP net inflow is $530k, and MET net inflow is $360k. What do these data suggest? Smart money is gradually building positions, and they’re going into coins with real yield—JLP is the LP token of Jupiter. It provides fee dividends, not “air.”
Now let’s look at the Base chain.
VELVET net inflow is 70k, but the price is up 62%. This volume–price divergence suggests the supply is highly concentrated and the main players haven’t really sold off. VIRTUAL net inflow is 70k, and Aave net inflow is 39k. The Base chain overall has a smaller pool of capital, but the flow is clear—all of it is DeFi-related.
There’s also an even more important signal.
USDT’s market cap is steadily growing. It has risen from $157.5 billion a year ago to more than $183 billion today. Stablecoin expansion means off-exchange capital is coming in. Even though BTC has been falling, USDT holders are increasing—these people could become buyers at any time.
Big institutions are moving too.
Kraken bought 15% equity in AAVE, valuing it at $3.85 billion. Coinbase’s customers have become Morpho’s largest source of deposits, accounting for 53% of deposits on the platform. These compliant giants are slowly penetrating DeFi—not pumping tomorrow, but building infrastructure.
On-chain data never lies.
BTC dropped from 120k to 60k, but the stablecoin market cap is still rising. Smart money is picking the bottom, while retail is cutting losses. When the ETF outflow starts to slow down, these stablecoins will turn into buying power.
$JLP $AAVE #链上 #资金流 #DeFi
Today, the net inflow data on the Solana chain is really interesting.
JLP net inflow is $8.56 million, ranking first among all Solana coins. ONYC net inflow is $1.9 million, second. PUMP net inflow is $530k, and MET net inflow is $360k. What do these data suggest? Smart money is gradually building positions, and they’re going into coins with real yield—JLP is the LP token of Jupiter. It provides fee dividends, not “air.”
Now let’s look at the Base chain.
VELVET net inflow is 70k, but the price is up 62%. This volume–price divergence suggests the supply is highly concentrated and the main players haven’t really sold off. VIRTUAL net inflow is 70k, and Aave net inflow is 39k. The Base chain overall has a smaller pool of capital, but the flow is clear—all of it is DeFi-related.
There’s also an even more important signal.
USDT’s market cap is steadily growing. It has risen from $157.5 billion a year ago to more than $183 billion today. Stablecoin expansion means off-exchange capital is coming in. Even though BTC has been falling, USDT holders are increasing—these people could become buyers at any time.
Big institutions are moving too.
Kraken bought 15% equity in AAVE, valuing it at $3.85 billion. Coinbase’s customers have become Morpho’s largest source of deposits, accounting for 53% of deposits on the platform. These compliant giants are slowly penetrating DeFi—not pumping tomorrow, but building infrastructure.
On-chain data never lies.
BTC dropped from 120k to 60k, but the stablecoin market cap is still rising. Smart money is picking the bottom, while retail is cutting losses. When the ETF outflow starts to slow down, these stablecoins will turn into buying power.
$JLP $AAVE #链上 #资金流 #DeFi