Happy Wednesday friends! Let’s get after it!
Stats/alerts/etc at top and tweets/news/links/videos/etc at bottom!
[Note: As always all tweets are hyperlinked so just click on them to pull them up on Twitter!]
Market Update
Crypto (from @CryptoBubbles):
Gold: $1,904.50
Oil (WTI): $79.10
Stocks (from:@News4Moves):
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
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August 23, 2023 chainEDGE - Today's Summary Seeing a rotation out of UNIBOT, RLB, PEPE and into OLAS, HILO, SHIA, ATOR and LINQ. HILO in particular is interesting with Gem Spotter 0x51e (who I've seen folks speculate is Su Zhu) hoovering up $500k of HILO over the last 5 days. HILO is a binary prediction markets project at a ~$18mm FDV/mc. SHIA dominated today's new launch inflows, with over $68k of net swap inflows. Currently smart money holds $1.3mm worth of SHIA, with the token up ~40x from our New Launch signals (more tools coming for this soon). UNIBOT, RLB and BITCOIN are still longer term holds for smart money, each having ~$8mm of smart money token holdings currently (with only BITCOIN getting swap inflows in the past 24hr).
Biggest TVL Movers + Else
Chains are mostly red today. Only top 30 chain up at least 20% on the weekly is Base (#12). Top 30 chains down at least 20% on the weekly include Pulse Chain (#17), and Gnosis (#28).
Protocols are very red today. Only protocols with at least $40M TVL green on the weekly are Eigenlayer, Loopring, Kava Mint, Morpho, JustStables, stUSDT, and RealT.
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 Chains By 7 Day Stablecoin Inflow % (from @DefiLlama):
Other Data Points
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
Ethereum Fear And Greed Index
(from @EthereumFear):
Fee Generation (from cryptofees(dot)info):
New Protocols
(note: this includes new defi protocols we find through combing Twitter each day, and we also include every (newly launched) protocol added by @DefiLlama - hence disclaimer: these are not pre-vetted by us so make sure to DYOR!)
-Something new on Base called @lendonbase. Twitter bio states “Bringing on chain money markets to @buildonbase”.
-New project called @Pearswapnet. Twitter bio states “Pear Swap: Flagship product of $PEAR token ecosystem. P2P + OTC abilities. Safer, faster, and more anonymous trades.”
-New SocialFi project called @RoshamboCoin. Twitter bio states “Roshambo : The NEXT Generation AI Based Social Platform.🔥 Private VC's Funded project💰 #SocialFi”. h/t @CryptoNikyous:
-Another new SocialFi project called @Qrollii. Twitter bio states “Connect, Create, and Own Your Experience”. h/t @CryptoNikyous:
-Something new called @arcane_finance. Twitter bio states “ZeFi DEX on @AleoHQ: A cutting-edge privacy-first financial powerhouse leveraging Aleo's unique ZKP-based features to provide unparalleled confidentiality.” h/t @twindoges:
-Something new called @ReputationDAO. Twitter bio states “Build your on-chain reputation. Coming Soon.” h/t @twindoges:
-Something new tied to SocialFi called @perpstech. Twitter bio states “Perpetuals for your most loved and hated people. Currently building alpha.” h/t @twindoges:
-A similar project called @FTSX_protocol. Twitter bio states “Perpetual trading protocol for share of @friendtech”. h/t @twindoges:
-New/newish project called @Intswap_amm has been added to @DefiLlama. Twitter bio states “1st Multichain NFT AMM Protocol enables LP Mining to earn compound trading fee, royalty fee and beyond. #zkSync Era #Base”.
-Something new on Core and Op_Bnb called @CuanSwap has been added to @DefiLlama. Twitter bio states “Cuan Ecosystem 🛜 CuanSwap DEX 🏦 CuanSwap Token 🪙 Services 👨💻 - #Crypto #CoreDAO #BaseChain #BSC #Memecoin $CUAN”.
-Previously-mentioned perps protocol on Base called @synthswapio has been added to @DefiLlama. Again, Twitter bio states “🟪 Defi World on @BuildOnBase 🟦 Futures 🟦 Concentrated Liquidity/V3 🟦 Deflationary ⚡ Built by @zyberswap”.
-Something new on Linea called @vooi_io. Twitter bio states “ultrasound capital-efficient stableswap for L2s”.
Security Alerts
-@Balancer released several alerts over the last 24 hours, here is the most recent tweet from them:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama ($5M+ TVL, single-exposure, no-IL only) and @stable_fish - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Important News And Analysis
(key news, twitter threads, articles, videos, etc from last 24 hours)
-Binance is generating lots of discussion/speculation again:
-Negative price action and liquidations have continued:
-$ETH the same price it was a year ago:
-Base still taking center stage for on-chain action:
-China cuts interest rates again:
-Stablecoins apparently settled over $11T in transactions last year:
-Amount of $ETH held on exchanges declining, h/t @francescoweb3:
-@eigenlayer increases liquid-staking cap:
-NFT bear market continues:
-@LiquityProtocol’s V2 generating attention, thread from @WinterSoldierxz below:
-Interesting thread from @Castle__Cap:
-Interesting thread on @friendtech from @Saypien_:
-@santiagoroel and @JasonYanowitz from @thebellcurvepod interviewed @blknoiz06 about @friendtech:
-Very thorough video on the current turmoil in Chinese markets from Weston Nakamura at @Blockworks_:
-@BanklessHQ released a new interview with Vance Spencer @pythianism:
-New Q&A video from macro gigabrain @LukeGromen:
-Parting wisdom c/o @thedefiedge:
Conclusion
Have a great Wednesday frens!
And please RT/subscribe/etc if you found this valuable! :)
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***Note On Material: The ‘Spotlight’ section 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.