Weekly Alpha #42 – The Best Stablecoin Yields You Can Capture Right Now (Before Rates Shift)
Latest DeFi Alphas Delivered in a Concise Newsletter.
Welcome back to Weekly Alpha — your curated edge in DeFi, tokenomics, and macro shifts before they go mainstream.
In this edition of The Weekly Alpha:
🧑🌾 The Best Stablecoin Yields You Can Capture Right Now
🧐 Onchain Analytics
📆 What I’m reading this week
🎧 What I’m listening this week
🔓 Token Unlocks
The Best Stablecoin Yields You Can Capture Right Now
infiniFi
A decentralized, depositor-driven system that optimizes asset-liability matching for stability and higher returns without intermediaries.
👉 Current yield: 7.48% APY on USDC deposits.
Convex Finance
A DeFi protocol that enhances yields for Curve Finance LPs and CRV stakers by simplifying staking and compounding rewards without locking CRV.
👉 Current yield: 62.13% APR on the sUSD+FRAXBP pool.
Morpho
A decentralized lending protocol that peer-matches users on top of Aave and Compound to improve capital efficiency and rates for lenders and borrowers.
👉 Current yield: 6.80% APY on USDC via the MEV Capital vault.
A decentralized yield marketplace that lets users deposit stablecoins into curated, high-yield DeFi strategies while retaining instant liquidity through its "Fluid Landing" mechanism, which enables penalty-free withdrawals from most vaults at any time.
👉 Current yield: 7.73% APR on USDT via the Fluid Landing vault.
🔥 Want to earn yield and front-run a potential airdrop?
Try infiniFi early with my referral link
Your click supports this newsletter and gets you direct access to the protocol before it breaks out.
Onchain Analytics
Ethereum Dominates Capital Flows with $3.2B Net Inflow
Ethereum continues to assert its dominance in the onchain economy, recording a net inflow of $3.2 billion over the past three months — significantly outpacing all other chains. According to Artemis data, Ethereum attracted $15.3B in inflows versus $12.1B in outflows, reflecting strong investor confidence and capital retention despite rising L2 activity.
Notably, several new or emerging chains like Sonic, Unichain, and WorldChain also posted positive net flows, suggesting early adoption or liquidity mining incentives. Conversely, Base, despite high user activity, saw the largest capital exodus among all tracked chains, with sustained outflows indicating that transaction activity is not yet translating into retained capital or sticky TVL.
Base Leads in Activity, But Ethereum Holds Transactional Relevance
When it comes to transaction count, Base has emerged as the undisputed leader, closing the last 30 days with nearly 298 million monthly transactions — a staggering +338% YoY growth. While the surge is partially fueled by social-fi and meme coin activity, it underscores the demand for low-cost execution layers.
Ethereum Mainnet, however, remains resilient with over 40 million monthly transactions, showing steady growth (+20% YoY), which is particularly notable given its higher fees. This suggests that Ethereum continues to attract high-value and serious dApp usage, especially around DeFi and institutional-grade activity.
Meanwhile, Arbitrum One has seen a small drop over the 6-month mark (-5.2%), indicating cooling momentum compared to its L2 peers. Unichain and World Chain show explosive growth figures, but sustainability and actual utility remain key metrics to watch as these ecosystems mature.
Stablecoin Liquidity Still Heavily Concentrated on Ethereum
In the stablecoin arena, Ethereum continues to tower above all networks with an average of $127.83B in stablecoin market cap, up +51% YoY. This cements Ethereum as the liquidity bedrock of DeFi, with USDC, USDT, and DAI activity underpinning lending protocols, onchain treasuries, and tokenized real-world assets.
Arbitrum One, holding $6.26B, has quietly become the leading L2 for stablecoin liquidity, growing +57% YoY, largely due to its DeFi-native user base. In contrast, Base, despite its massive transaction volumes, holds just $3.74B, suggesting that much of its activity is speculative or non-financial in nature.
One major outlier is OP Mainnet, which suffered a -71.7% collapse in stablecoin cap over the past year. Whether this is due to capital rotation or systemic risk aversion will be a key question heading into Q3 2025.
What I’m reading this week 📆
In this section, I curate the week's most impactful DeFi news. This way, you can bypass the chatter on Twitter and concentrate on the essential updates.
How to use ChatGPT for crypto strategy, signals, and sentiment - read
Morpho V2, the Top Crypto Lender Seeks to Make DeFi More Like TradFi - read
ETH Is Mispriced ‘Digital Oil’ That Could Hit $80,000 - read
How Peter Todd stored bitcoin in his brain wallet - read
‘There’s so much opportunity’ in crypto: BlackRock COO - read
Token Unlocks 🔓
ARB (1.91% of circulating supply) - June 16
FTN (4.65% of circulating Supply) - June 18
APE (1.95% of circulating supply) - June 17
What I’m listening this week 🎧
In this section, I feature the week's most compelling DeFi podcasts and videos.
That’s it for this week.
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None of the information in this newsletter constitutes financial advice. While I personally use most of the protocols that I discuss, it's important to understand that they involve substantial risk. Don’t invest what you can’t afford to lose