Happy Saturday friends! Lots of cool stuff going on in ze brypto world today!
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: $3.06T
Gold: $3,330.20
Oil (WTI): $63.02
US 10Y Treasury: 4.255%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Much is happening with our Official Sponsor @upshift_fi good anons!
They are consistently providing some of the best yields in all of defi, they also have seen absolutely surging TVL, a host of partnerships with some of the most well-respected teams in all of defi, and burgeoning chatter on CT as one of the most exciting new projects in all of crypto!
As background, and as detailed within this excellent thread from the @upshift_fi Twitter account:
“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.”
Learn more about everything they are doing in Upshift co-founder @AElkrief’s interview with The Index Podcast that was just published yesterday!
Biggest TVL Movers + Other Interesting Data
Chains are quite green today. Top 25 protocols up at least 20% on the weekly include Bitcoin (#4), Sui (#9), Unichain (#16), Bitlayer (#21), and Hemi (#23).
Protocols are also quite green today. Top 100 protocols up at least 20% on the weekly include Babylon Protocol (#8), Suilend Protocol (#64), Superstate (#65), and NAVI Protocol (#69).
Here’s The Top 12 Best-Performing Chains By TVL On The Weekly With At Least $1M TVL (from @DefiLlama):
Here’s The Top 12 Best-Performing Protocols By TVL On The Weekly With At Least $1M 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 @xodotmarket. Twitter bio states “Permissionless conviction markets built for everyone. Turn your convictions into capital with ❌⭕.” Followed by 3 of our mutuals. h/t @ayyyeandy:
-Something new called @allscaleio. Twitter bio states “The crypto-fiat agnostic neobank to scale your business globally with stablecoin.” Followed by 3 of our mutuals. h/t @AresLabs_xyz:
-New project called @communadotworld. Twitter bio states “RWAs. Just Better ---- Coming Soon.” Followed by 3 of our mutuals. h/t @AresLabs_xyz:
-New project called @NawaFinance has been added to @DefiLlama, categorized as a yield protocol on CORE. Twitter bio states “Grow your funds with Nawa the ethical way—simple & automated”. Not followed by any of our mutuals but over $12M TVL so including it.
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (single-exposure, no-IL, $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
-Hyperliquid, Sui, and $PENGU all capturing a lot of mindshare right now, h/t @sandraaleow:
-Lot of focus on stocks this weekend, with $QQQ/Nasdaq 100 currently at around $473, up from a low of $416 on April 8th, after hitting an all-time high just under $540 in February, h/t @fejau_inc:
-Notable raises over the last week include @NousResearch, @symbioticfi, @Theo_Network, @ArchNtwrk, and @talkxyz, h/t @immutablejacob:
-Many are calling Kevin Warsh the new “Shadow Fed Chair”, based on the idea that Trump will be nominating him as Jerome Powell’s replacement next year, however others are expressing confusion about this, stating that Warsh is known for being quite hawkish whereas Trump has been complaining that Jerome Powell is not dovish enough, h/t @zerohedge:
-Binance maintains 40% share among cex’s, h/t @CoinGecko:
-Is the perps gold rush only getting started? h/t interesting thoughts from @lbolord:
-Similarly bullish + interesting thoughts on InfoFi and Kaito, from @0x_Abdul:
-Is @skate_chain the next big Kaito-fueled airdrop? h/t @DidiTrading:
-“Feels like many of the current lending+dex designs are converging” - h/t interesting thoughts from @0xngmi:
-Interesting breakdown of protocols with potentially bullish setups, from @DeFi_Dad and @Nomaticcap:
-New thread of links for all recent airdrops, from @Earndrop_io via @OlimpioCrypto:
-New macro Q&A from @LukeGromen:
-New video on everything yield-maxxing, from @phtevenstrong:
-New crypto/macro livestream from @noahseidman (aired yesterday):
-New weekly macro overview from Joseph Wang @FedGuy12:
-New episode of @thebellcurvepod featuring @MikeIppolito_ and @santiagoroel discussing all sorts of crypto stuff:
-“Focus on your input, not your (desired) output” - parting wisdom from @MalepoCrypto via @QuotableCrypto:
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
Take note!
Season Two of @vertex_protocol’s $AVAX Rewards kicks off today!
Traders can utilize Vertex for perps and spot trading on Avalanche to earn massive rewards!
“Season 2 Details…
Deposit $USDC or $wAVAX as collateral to start trading.
When: 23 Apr → 21 May (4 weeks)
Total Rewards Available: 40,000 $AVAX
Rewards Per Week: 10,000 $AVAX
Mechanism: Taker-only, capped at 100% fees paid.”
Avalanche is just one of many chains Vertex serves via their gigabrain omnichain liquidity infrastructure Vertex Edge (the success of which is currently paying 40%+ APR to $VRTX-stakers via revenue-sharing!) and their goal is to be on 25 different EVM chains by the end of this year!
Make sure to visit the Vertex site now to get started trading and make sure to follow Vertex on Twitter for more updates! And stay tuned as we continue shining a light on everything they are doing!
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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.