Happy Saturday friends! Some brutal price action these last 24 hours!
Let’s dive in!
Stats/alerts/etc at top and tweets/news/links/videos/etc at bottom… and all tweets are hyperlinked so just click on them to pull them up on Twitter!
Market Update
Crypto (from @CryptoBubbles24):
Gold: $2344.53
Oil (WTI): $85.66
US 10Y Treasury: 4.518%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
The good crew at @vertex_protocol continue rolling out important updates!
As background, Vertex is a cross-margin spot, perps, and money market protocol where users can trade, earn, and borrow all in one place, and is the Official Sponsor of The Daily Degen :)
They have a ton of cool stuff going on, most notably their new cross-chain unified liquidity architecture EDGE (@poweredbyvertex), fiat on/off-ramping through @transak, and much more… and also the most advanced and user-friendly UX available to on-chain traders!
Make sure to visit their site now to get started trading and/or yield-maximizing… and check out their update below on an important reduction in minimum order sizes!
Biggest TVL Movers + Else
Chains are extremely red today. Only top 50 chains green on the daily are Merlin (now #12) and dYdX (#36).
Protocols are extremely red as well. Only top 100 protocols green on all three timelines (daily, weekly, monthly) are Ethena (#16), Morpho (#24), Connext (#34), and Ondo Finance (#71).
Here’s The Top 12 Chains By TVL (from @DefiLlama):
Here’s The Top 12 Protocols By TVL (from @DefiLlama):
Here’s The Top 12 Entities By 24 Hour Fee Generation (from @DefiLlama):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
Ethereum Fear And Greed Index
(from @EthereumFear):
New Projects
(note: this includes new projects we find through combing Twitter each day, and we also include or re-include every newly launched protocol added by @DefiLlama that has at least some TVL or is followed by at least some of our mutuals - hence disclaimer: these are not pre-vetted by us so make sure to DYOR!)
-Something new called @taopeyvaults. Twitter bio states “an on-chain trading experiment powered by the open AI of @taoshiio subnet, #Bittensor & the permissionless copytrading of @PerpyFinance. Not financial advice.” Followed by 4 of our mutuals. h/t @0xarrash:
-New protocol on Solana called @sandglass_so. Twitter bio states “The first pool-based yield trading protocol on Solana.” Followed by 9 of our mutuals. h/t @AresLabs_xyz:
-New project called @multisynq. Twitter bio states “The Missing Protocol of the Internet.” Followed by 11 of our mutuals. h/t @AresLabs_xyz:
-New project called @transporter_io. Twitter bio states “Transporter is your hyper-secure crypto bridging app, powered by @chainlink CCIP. Cross chains with confidence.” Followed by 18 of our mutuals. h/t @AresLabs_xyz:
-A new dex on ‘Europa’ chain called @AquasTrade has been added to @DefiLlama. Twitter bio states “AquasTrade - a #defi protocol for trading and automated liquidity provision on the #ZeroGasFee @SkaleNetwork $SKL $AQUA”. Not followed by any of our mutuals.
-New lending protocol on Merlin called @avalonfinance_ has been added to @DefiLlama. Twitter bio states “🎩 The House of BTC: Borrowing and Lending | Powered by @snzholding, @SummerEverest, @capital_spark, @realMatrixport...” Followed by 12 of our mutuals.
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama ($10M+ TVL, single-exposure, no-IL only) and @stable_fish - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Security Alerts
-Daily Reminder: Twitter (and other social media) is being absolutely inundated with scams and links to fake versions of popular defi protocols - please make sure to be EXTREMELY hyper-vigilant and triple-check before interacting with anything!
-No security alerts today.
Important News And Analysis
(key news, twitter threads, articles, videos, etc from last 24 hours)
-Extremely red price action the last 24 hours, h/t @WuBlockchain:
-@zerohedge on flows:
-Good news overview c/o @0xSalazar:
-Bitcoin dominance ratio keeps going up, h/t @intocryptoverse:
-Good chart re: historical tax season patterns c/o @dunleavy_89:
-Tensor announces post-facto changed to airdrop distribution, h/t @DegenerateNews:
-Latest inflation data from Chainlinked-powered @truflation:
-New Hong Kong spot ETF’s generating lots of attention, h/t @0xjaypeg:
-Interesting stat from good thread on crypto/Asia from @reganbozman:
-Airdrop guide to @deBridgeFinance from @0xWelfare:
-More airdrop alfa, c/o @73lV_:
-New roundtable discussion from @0xSteadyLads podcast:
-Good new Solana defi + airdrop strategy video from @Dynamo_Patrick:
-New interview with Uniswap-founder @haydenzadams from @BanklessHQ:
-Good crypto-focused interview with Naval Ravikant and Balaji Srinivasan that was just released:
-Good new macro interview with Joseph Wang @FedGuy12 from George Gammon:
-New roundtable discussion between @MikeIppolito_, @pythianism, and @im_manderson on all things crypto and defi:
-Parting wisdom c/o @defi_sakura:
Conclusion
Have a great Saturday friends and don’t forget to touch some grass this weekend!
And please RT/subscribe/etc if you found this valuable!
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Note
Our friends at @silentdao_ keep working diligently behind the scenes to develop a truly revolutionary solution to the issue of on-chain privacy…
Our editor @rektdiomedes has been helping bang the drum about what @silentdao_ have been building, and the architecture being developed is intended to permanently change the defi landscape.
Once again, Silent is a middleware privacy/encryption project designed to facilitate composable privacy solutions within the EVM itself... Make sure to follow the official @silentdao_ Twitter account so you don’t miss any important updates!
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***Note On Material: The ‘Spotlight’ and ‘Note’ sections and info on our Official Monthly Sponsor are the only parts of The Daily Degen that are sponsored/promotional. Everything else is chosen 100% organically based on what info/stories/etc seem likely to be the most newsworthy/important/valuable to readers.