Happy Tuesday friends! Some good price action we’re seeing!
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):
Gold: $2562.30
Oil (WTI): $74.00
US 10Y Treasury: 3.837%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Take note good degens! INFINIT- The DeFi Abstraction Layer- is here!
“The INFINIT abstraction layer lies between networks and DeFi protocols providing synergy to both fronts...
INFINIT essentially lowers the barriers to entry to build high-quality DeFi dApps… [it] provides customizable building blocks and tools that streamline development, decrease risks of new vulnerabilities, and enable rapid speed to market and scaling…
For new protocols, INFINIT facilitates the efficient launch of new DeFi dApps ensuring rapid GTM with customizable functionalities. Existing dApps can seamlessly scale with INFINIT by integrating new functionalities, allowing a quick and secure deployment of new features…
INFINIT is already supporting 12 DeFi dApps, facilitating $630M+ TVL. This includes @InitCapital_ @ethena_labs @zerolendxyz & more. INFINIT will also support notable chains like @0xMantle @monad_xyz @taikoxyz @zksync @injective @MitosisOrg & more for developers to build on top…”
We have been helping the team behind @Infinit_Labs raise awareness about everything they have been building, so make to check out the thread below and follow Infinit on Twitter for continued updates!
Biggest TVL Movers + Else
Chains are quite green today. Fastest-growing chains on the weekly with at least $20M TVL are Core, Kala, and BSquared.
Protocols are also very green today. Fastest-growing protocols on the weekly with at least $20M TVL are multichain (EVM) services protocol Aera, multichain restaking protocol Pell Network, and ETH Mainnet restaking protocol Symbiotic.
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)
Chart Of The Day
(Courtesy of our Official Sponsor @vertex_protocol)
-Has the $SOL hype calmed down? Or is this just a small consolidation before further upside?!? Express your thesis via spot or leverage and access 50+ other markets as well at app.vertexprotocol.com!
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 @WalrusProtocol. Twitter bio states “Welcome to the next generation of data storage. Secure, efficient, and decentralized. Now on Devnet.” Followed by 5 of our mutuals. h/t @2lambro:
-Something new called @GenitiveNetwork. Twitter bio states “The first #FHE-based Omnichain Interoperability Protocol with Fully On-chain Privacy...” Followed by 2 of our mutuals. h/t @AresLabs_xyz:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $10M+ TVL) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Security Alerts
-Security alert re: @Parcl from around 14 hours ago:
Important News And Analysis
(key news, twitter threads, articles, videos, etc from last 24 hours)
-Solana ETF developments generating a lot of attention over the last 24 hours, with consensus seeming to be further progress is off the table until after the election (if US gets a more pro-crypto administration):
-Interesting comparison of current pumpdotfun meta with 2021 NFT meta from @Tyler_Did_It:
-Additional news c/o @0xSalazar:
-Update on miner selling from @kellyjgreer:
-Some notable defi updates c/o @Defi0xJeff:
-Lot of interesting analysis taking place re: on-chain prediction markets, @DriftProtocol’s new product, Polymarket, etc - h/t @Mikey0x_:
-Bearish thoughts on the US dollar, h/t @MarkGutman9:
-Interesting note from @0xSisyphus:
-Reports on Illuvium from @0xngmi generating a lot of attention:
-Very in-depth thread on $TAO/Bittensor from @ReveloIntel:
-Sentiments c/o @qthomp:
-New @BanklessHQ interview with macro gigabrain Louis-Vincent Gave:
-New crypto/macro Q&A with @noahseidman:
-New crypto news overview from @coinbureau:
-Parting sentiments from @Beacon_Early:
Conclusion
Happy Tuesday degens! 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 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.