Happy Thursday and Happy August good degens!
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 @CryptoBubbles):
Gold: $2494.10
Oil (WTI): $78.59
US 10Y Treasury: 4.023%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
One of the greatest strengths of @vertex_protocol is its robust cross-chain liquidity based on the @EdgeLayer system…
Basically, @EdgeLayer or ‘Edge’ is a liquidity architecture or ‘Synchronous Orderbook Technology’ that the Vertex team created…
It is connected to Vertex because Vertex utilizes it to source seamless cross-chain liquidity, and because the success of Edge flows back to holders of the VRTX token, however it also exists independently, as other protocols can utilize it as well…
To quote the below thread from a couple months ago from @EdgeLayer:
“Edge is laying the foundation for an alliance of ecosystems injecting their liquidity into a shared, synchronous orderbook liquidity layer across chains.”
Read that thread below as well as the thread quote-tweeting it from Vertex co-founder @DariusTabai to learn more now! And remember Vertex is our Official Sponsor so make sure to follow them on Twitter as well!
Biggest TVL Movers + Else
Chains are mostly red today. Biggest gainers on the weekly with at least $50M TVL are BSquared, Metis, and Core.
Protocols are mostly red today as well. Biggest gainers on the weekly with at least $50M TVL are DeFi Saver, Ekubo, and DODO.
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 Revenue Generation (from @DefiLlama):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
Top Trending Tokens
(from @dexscreener - 24 hour timeframe)
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!)
-New project called @bitcornstaking. Twitter bio states “Harvest The Highest Bitcoin Yields With Bitcorn Liquid Staking 🌽 A project incubated by @KernelProtocol ₿” Followed by 5 of our mutuals. h/t @twindoges:
-Something new called @rbo_protocol. Twitter bio states “Programmable Bitcoin Protocol”. Followed by 3 of our mutuals. h/t @twindoges:
-New project labelled as a liquid-staking protocol on ETH Mainnet called @deq_fi has been added to @DefiLlama. Twitter bio states “Native liquid staking for @availproject”. Followed by 9 of our mutuals.
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama ($10M+ TVL, single-exposure, no-IL only) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Security Alerts
-No security alerts today.
Important News And Analysis
(key news, twitter threads, articles, videos, etc from last 24 hours)
-As expected, the Federal Reserve left interest rates unchanged yesterday, but Powell was dovish in his statements, and a September rate cut remains the consensus expectation:
-Nvidia absolutely shot through the stratosphere yesterday, h/t @krugermacro:
-The Bank Of England cut interest rates today:
-Crypto struggling as usual though, h/t @0xGumshoe:
-Additional headlines c/o @0xSalazar:
-Tether continues to stockpile $BTC, h/t @tomwanhh:
-Some type of situation with Kujira over the last 24 hours:
-Coinbase earnings report is tonight, with lower expectations after crypto’s sluggish price action the last few months:
-Update on @deBridgeFinance token launch + airdrop from @MingoAirdrop:
-Upcoming unlocks info from @NPC_68:
-The memecoin deluge continues as pumpdotfun hits $80M in cumulative revenue, h/t @kez4twez (screenshot below is part of a great long-form post with lots of interesting data, click to read in full):
-Lot of ruminating on cycles on the TL, example from @blknoiz06 below:
-New interview with Chainlink founder Sergey Nazarov from @DeFi_Dad:
-Macro + Bitcoin discussion from @LukeGromen and @PrestonPysh from several days ago that just got published:
-Parting wisdom from @ColdBloodShill:
Conclusion
Have a great Thursday friends and stay alert out there!
And please RT/subscribe/etc if you found this valuable!
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Note
The team at @silentdao_ is diligently working on some extremely important privacy tech, building what is essentially meant to be a middleware privacy/encryption layer designed to facilitate composable privacy solutions within the EVM itself... so that you can utilize all the same mechanisms and protocols on-chain you normally would, but with built-in privacy protection while you do so!
Our editor @rektdiomedes has been helping raise awareness about what the @silentdao_ team have been building, and their launch is coming soon, and follow them on Twitter for more updates!
And make sure to check out their latest article below!
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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.