What is the difference between DeFi and Layer 1?

DeFi: Decentralized finance protocols enabling lending, borrowing, trading, and yield generation without intermediaries. Layer 1: Smart contract platforms and base-layer blockchains including Ethereum, Solana, Avalanche, and more. The narratives may share constituent tokens (many crypto projects fit multiple narratives) but represent distinct capital-flow units.

Which narrative is performing better, DeFi or Layer 1?

Performance rotates on a weekly to monthly cadence. To see the live ranking, open Sharpe's Narratives dashboard and sort by 7-day or 30-day aggregate market cap change. Combining performance with social mindshare and funding-rate deltas produces a higher-conviction call than any single metric alone.

Are DeFi and Layer 1 correlated?

Most crypto narratives correlate with BTC at 0.7–0.9 during risk-on regimes and decouple during idiosyncratic catalysts (token-specific news, sector-specific regulatory events, narrative-defining launches). Sharpe's Correlation Matrix exposes the rolling 7-day, 30-day, and 90-day correlation between DeFi and Layer 1 constituent tokens.

How do I trade the DeFi vs Layer 1 rotation?

The cleanest expression is a long/short pair trade: long the outperforming narrative's top-liquid tokens, short the underperforming narrative's top-liquid tokens (on perps). This captures the relative-strength spread without broad-market risk. Sharpe's Narratives dashboard surfaces the daily leader; execution tools are on the Futures and Arbitrage pages.

Which tokens are in DeFi?

The DeFi narrative tracks tokens in Sharpe's defi category mapping plus manual curation. Open the /narratives/defi page for the full list of top tokens with market cap, 24h volume, and 7-day performance.

Which tokens are in Layer 1?

The Layer 1 narrative tracks tokens in Sharpe's layer-1 category mapping plus manual curation. Open the /narratives/layer-1 page for the full list of top tokens with market cap, 24h volume, and 7-day performance.

DeFi vs Layer 1 — Narrative Rotation Comparison

DeFi vs Layer 1 — Live Stats

Metric	DeFi	Layer 1	Δ
Aggregate Market Cap	$57.18B	$2.14T	-97.3%
TVL	$159.06B	$0.00	—
24h Change	+1.32%	-1.26%	—
7d Change	-4.55%	-5.31%	—
30d Change	+0.18%	+0.01%	—
24h Volume	$3.87B	$63.98B	-93.9%
Open Interest	$1.41B	$16.40B	-91.4%
Mindshare	+0.00%	+0.00%	—
Coin Count	250	250	—

Live narrative stats from Sharpe's tracker cache, refreshed every 30 minutes.