At first glance, it appeared that all these projects enjoyed a positive month in July. However, $ETH saw a 53% rise during this period.
At first glance, it appeared that all these projects enjoyed a positive month in July. However, $ETH saw a 53% rise during this period.
Therefore, projects with TVL made up entirely of ETH should have experienced a TVL increase matching that percentage or faced actual net ETH outflows. Yet, Lido only saw a 46% rise, and Eigen recorded just a 47% gain.
In contrast, the 60-70% TVL spikes for delta-neutral stablecoins like Resolv and Ethena result from real new inflows rather than just ETH's price surge.