Happy Tuesday and Happy Q2 good degens!
Here’s to a bullish quarter!
Let’s dive in!
As always… 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 @CryptoBubbles):
Total Crypto Market Cap: $2.84T
Gold: $3159.30
Oil (WTI): $71.66
US 10Y Treasury: 4.157%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Take note friends!
The Daily Degen is very excited to announce @upshift_fi as our new Official Sponsor!
Upshift is a brilliant new project co-founded by @aya_kantor and @AElkrief that is focused on democratizing access to institutional-grade yield!
As reported by Blockworks today, Upshift has been building in stealth since late 2024, and is now officially unveiling all that they have been working on!
As detailed within the excellent introductory thread the @upshift_fi account just published:
“Upshift is built for DeFi's institutional era:
> Powered by @august_digital infrastructure, the largest institutional DeFi brokerage, handling $7 billion in monthly volume.
> Granular risk management controls, with $250m+ TVL across 15+ chains and 70+ protocols.
> Partnered with the best in DeFi: @ethena_labs, @Lombard_Finance, @MorphoLabs , @withAUSD, @TreehouseFi, @KelpDAO.
> Vaults follow the ERC-4626 standard, composable with all major protocols.”
On vaults:
“Anyone can now deposit stablecoins, BTC, ETH and other assets to Upshift vaults. Curators such as MEV Capital, Tulipa Capital, Ultrayield, Ouroboros and MNNC Group are actively curating vaults to offer strategies with various risk profiles. Strategies may range from looping to more sophisticated products involving delta-neutral hedging, OTC options or systematic stablecoin DEX market-making.”
We will be shining a light on all the cool things Upshift is doing going forward, so make sure to follow them on Twitter for more updates, and read the great introduction to them below from co-founder @AElkrief!
Biggest TVL Movers + Other Interesting Data
Chains are mixed today. Notables include Sei (#17) which is up over 100% on the monthly, and Morph (#42) which is up over 300% on the monthly.
Protocols are also mixed today. Notables include Aave, which has overtaken Lido for the #1 spot by TVL in crypto, and BlackRock’s BUIDL, which has cracked the top twenty in spot #20.
Here’s The Top 12 Fastest-Growing Chains By TVL On The Weekly With At Least $100M TVL (from @DefiLlama):
Here’s The Top 12 Fastest-Growing Protocols By TVL On The Weekly With At Least $100M TVL (from @DefiLlama):
Here’s The Top Entities By 24 Hour Fee Generation (from @DefiLlama):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
New Projects
(note: this includes new projects we find through combing Twitter each day and going through newly launched protocols added by @DefiLlama, limited primarily to new projects that have at least some TVL or are followed by at least some of our mutuals… Disclaimer: these are not pre-vetted by us so make sure to DYOR!)
-Something new called @ForgeYields. Twitter bio states “Yield abstraction at its peak. Powered by OYITs — Omnichain Yield Index Tokens.” Followed by 2 of our mutuals. h/t @AresLabs_xyz:
-New protocol has been added to @DefiLlama called @WalrusLST, categorized as a liquid-staking protocol on Sui. Twitter bio states “❄️ Winter Walrus is a liquid staking protocol securing @WalrusProtocol. Stake and Chill.” Followed by 6 of our mutuals.
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $25M+ TVL only) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Important News And Analysis
-Circle IPO, stablecoin news, and overall bearish price action continue to dominate the TL, as well as the Trump tariff stuff that’s supposed to be announced tomorrow, h/t @Tyler_Did_It:
-Will the US see ‘Trump stimmy checks’ this year? h/t @JStein_WaPo:
-Top pre-token projects by mindshare right now are Wayfinder, Initia, Monad, Kinto, Pump, Abstract, and Opensea, h/t @KaitoAI:
-(Related) the Initia airdrop is here, so make sure to check if you qualify, more info from Kaito below:
-(Also related) it appears that very few people have participated towards earning the Wayfinder/$PROMPT airdrop comparatively (we HIGHLY recommend our readers get on this by the way- both in terms of the Kaito stuff as well as the 2% allocated towards those who create wallets and do the associated tasks- as the opportunity seems extremely asymmetric to the upside), h/t @DidiTrading:
-Thoughts from @WarrenPies that April may be tough for equities due to tax selling:
-Much talk on the TL about $GRASS, with several very smart accounts we follow quite bullish on it but also lots of debate, (note: we normally don’t include anything from AI agent accounts but the below is a good example so using it):
-EigenLayer continues to fade from the public eye after dominating discourse (and TVL) as recently as a year ago, h/t @ChainLinkGod:
-Excitement about the possibilities surrounding on-chain perps for stocks now that regulatory zeitgeist has shifted, h/t @crypto_condom and @hansolar21:
-Lots of very interesting debate about whether VC’s are underperforming this cycle due to virtually everything being down vs $BTC as well as increasing skepticism about VC’s in general (good points on both sides in frog’s opinion):
-Absolutely fascinating article about North Korean hacking efforts/logistics from @samczsun:
-New @theempirepod interview with Jacob Horne the CEO of Zora:
-New episode of @rollupco featuring Max Resnick and Logan Jastremski:
-New interview with Robinhood’s Vlad Tenev from @BanklessHQ:
-Are memecoins really dead? New video from @smyyguy and @whosknave:
-Parting wisdom from @crypthoem:
Conclusion
Happy Tuesday friends and stay alert out there!
And please RT/subscribe/etc if you found this valuable!
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***Note On Material: The ‘Spotlight’ and ‘Note’ sections and info on our Official 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.