Happy Monday friends! Some of the most wild price action we’ve seen in a long time! Hope you are hanging in there!
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 @CryptoBubbles24):
Gold: $2484.20
Oil (WTI): $72.95
US 10Y Treasury: 3.743%
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 extremely red today as one might expect. Only top 50 chains green on the weekly are dYdX (#33), and BSquared (#36).
Protocols are also extremely red today. Only top 50 protocols green on the weekly are Tether Gold (#35), Ondo Finance (#39), BlackRock BUIDL (#43), Paxos Gold (#47), and dYdX (#49).
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 (from @DefiLlama):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
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 @cytonic_com. Twitter bio states “Cytonic is the world's first Multi-Virtual-Machine blockchain: Bitcoin+Ethereum+Solana = Cytonic”. Followed by 1 of our mutuals. h/t @AresLabs_xyz:
-New project(experiment?) called @ThePortMiami. Twitter bio states “where shippers ship”. Followed by 9 of our mutuals. h/t @AresLabs_xyz:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (single-exposure, no-IL, and $1M+ TVL only) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Security Alerts
-No security alerts today.
Important News And Analysis
(key news, twitter threads, articles, videos, etc from last 24 hours)
-Crypto prices have been absolutely nuking, h/t @intocryptoverse:
-$ETH has been especially battered:
-Sentiments c/o @0xfoobar:
-Situation in Japan is deteriorating, and dominating macro discussions:
-Gas fees spiking on ETH Mainnet as well as Arbitrum, h/t @PressieMoonBoy:
-Jump Trading still generating massive attention in crypto world:
-Macro schedule for the week ahead, h/t @KobeissiLetter:
-Some new thoughts from @cobie generating lots of attention:
-Thoughts from @dunleavy89:
-Latest update on everything going on in the Cosmos ecosystem from @Cryptocito:
-Parting sentiments c/o Arthur Hayes @CryptoHayes and @systems_value:
Conclusion
Happy Monday friends and hang in there! This too shall pass!
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.