🧑‍💻 Here are crypto's top 10 DeFi projects by development. Directional indicators represent each project's ranking positioning since last month:

📈 1) Chainlink $DFI 🥇

📈 2) Deepbook $DEEP 🥈

📉 3) DeFiChain $DFI 🥉

📉 4) Synthetix $SNX (On Ethereum)

📈 5) Liquity $LQTY

📉 6) Lido DAO $LDO

📉 7) Injective $INJ

📈 8) Babylon $BABY

📈 9) Coinbase Wrapped BTC $CBBTC

📉 10) FOX Token $FOX

Read about Santiment's methodology for covering development activity for over 4,000 projects.

🐳 Over the past 5 years of Bitcoin's history, no tier of wallets has been more price-correlated to crypto markets than the behavior of whales holding between 100 to 1,000 $BTC. In the past 6 weeks, this group has +337 more wallets, collectively accumulating 122,330 more Bitcoin.

💸 Percent of Total Supply in Profit is a straightforward metric that shows how much of a cryptocurrency’s current circulating supply is held at a profit—meaning the coins were bought at a lower price than they’re worth today. Currently, some notable top caps' supply in profit stats look like:

🪙 Bitcoin $BTC: 98.4%

🪙 Ethereum $ETH: 71.5%

🪙 XRP $XRP: 98.3%

🪙 Dogecoin $DOGE: 77.9%

🪙 Cardano $ADA: 71.0%

🪙 Chainlink $LINK: 80.5%

Even a tiny gain like +0.00001% counts as being “in profit,” making this a simple, yes-or-no measurement of market positioning, for every single coin. It helps investors quickly understand whether most holders are likely feeling optimistic or jaded, based on how their holdings have performed since entering circulation.

As more coins are mined, we will naturally see each coin see more and more of its total supply in profit. But by measuring the ratio of the asset's total supply in profit, we get a clear long-term picture of the market mood at a given moment because it focuses only on the currently available supply. Since crypto supply often increases over time, using percentages avoids misleading conclusions and helps investors gauge whether a coin is relatively overbought or oversold.

When combined with other metrics like MVRV (Market Value to Realized Value), RSI (Relative Strength Index), or Network Realized Profit/Loss, Percent in Profit becomes even more powerful. Crypto is a zero-sum game. So when large portions of a network are heavily in profit, the odds of profit-taking and a short-term pullback rise. But when most holders are sitting at a loss, it often indicates fear, undervaluation, and a potential opportunity to enter or add to a position before a price recovery.

😄 Are traders showing a high level of FOMO as Bitcoin's market value ranges around the $110K level? A bit, but the euphoria has calmed down a bit. And with markets moving the opposite direction of retailers' expectations, we want to continue to see some reasonable doubt.

Over the past week, we have highlighted 3 spots where there is a dangerous level of euphoria, and 3 spots where traders were overly fearful. Look for spots where bearish commentary is outweighing the bullish, as they continue to present great spots for opening & adding on to your positions.

The sentiment chart is available here, and can be toggled to 4,000+ assets.

🗣️ The top emerging stories that have been making waves across social media are:

👉 Freedom and Sacrifice

👉 Vegas Crypto Week

👉 Wynn Whale Trades

👉 Loudio Trading Buzz

Access the free Santiment dashboard to see topics driving markets any time:

📈 As Bitcoin's profits are redistributed into new altcoins following its recent $112K all-time high, 3 altcoins are seeing particularly high new wallet creation rates:

👉 Wrapped Ethereum $WETH #26

👉 Gatechain $GT #39

👉 Maker $MKR #77