The Daily Degen- December 4th, 2023

All of today's news/data/alerts...

Dec 04, 2023

Happy Monday friends! Quite a day in ze brypto markets!!!

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: $2068.90

Oil (WTI): $73.29

US 10Y Treasury: 4.249%

Stocks (from:@News4Moves): N/A

Biggest Price Movers

(From @coingecko top 1000, by 24 hour change)

Spotlight

Take note good degens! Interesting thread below on how an opportunistic whale turned $50K into $1M in just 10 days on @HMXorg!

As detailed by @OnchainDataNerd below, right before the big 'ETF filing' news a savvy HMX trader put down $50K and opened a ‘Max Long’ strategy... The trader chose to use volatile assets as collateral for longing without switching to stablecoins, then, as the market rallied, they amplified their strategy, opening more longs on $BTC, $ETH, and five other alts!

Which of HMX’s unique features made this possible?

🐉 Sharing of margin balances across positions

🐉 Using unrealized profit as collateral

🐉 Using volatile assets as collateral

The result? A cool profit of over $700K and brilliant showcase of what's possible by combining HMX's features + trading acumen :)

We will keep highlighting what the crew at HMX is shipping but make sure to give them a follow on Twitter as well! And check out the excellent thread from @OnchainDataNerd below!

Biggest TVL Movers + Else

Chains are unsurprisingly green today. Only top 50 chains not green on the weekly are Pulse Chain (#18), Tezos (#36), and Starknet (#44).

Protocols are very green as well. Only protocols with at least $100M TVL not green on the weekly are StakeWise, MatrixDock, Velodrome, JustStables, OndoFinance, and PulseX.

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 Fee Generation (from @DefiLlama):

Bitcoin Fear/Greed Index:

(from @BitcoinFear)

Ethereum Fear And Greed Index

(from @EthereumFear):

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!)

-New project called @EtrapayInc. Twitter bio states “World's most advanced onchain privacy tooling provider.” h/t @thealphadigest:

-New trading bot project called @FortunaAIERC. Twitter bio states “Revolutionizing Crypto Trading with Advanced Predictive Analytics”. h/t @thealphadigest:

-New perps dex on Base called @basemaxfi. Twitter bio states “Perpetual DEX on @BuildOnBase Trade Crypto, Forex, and Metals with up to 250x leverage Trade Beyond Limits, Maximize Your Profits”. h/t @thealphadigest:

-Something called @DecentraMindETH. Twitter bio states “Empowering The TAO Ecosystem Through BitAPAI Integration. More Accessible, Decentralized, and User-Centric AI Future.” h/t @thealphadigest:

-Something new Canto-related called @smayfinance. Twitter bio states “Harvesting Success, Cultivating the Largest Treasury on Canto's Horizon.” h/t @Beacon_Early:

-New dex called @Avocado__Swap on new EVM Bitcoin-L2 @BotanixLabs. Twitter bio states “The first ever PancakeSwap fork on Bitcoin. Time to get fruity and swap 🥑” h/t @Beacon_Early:

Top Stablecoin Yields

(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $10M+ TVL) 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)

-Crypto markets surged yesterday, with $BTC breaking through the 40k, 41k, and 42k marks since yesterday morning:

-The rest of the market rose alongside Bitcoin, with $ETH at yearly high’s and the overall crypto market cap back to spring 2022 levels, h/t @resdegen:

-Gold gapped up overnight hitting a new all-time high:

-Macro schedule for the week ahead, c/o @KobeissiLetter:

-Lot of talk about tokenized stocks recently, which seem to have lagged behind tokenized treasuries/bonds in on-chain development/adoption as of late, h/t @santiagoroel and @DefiIgnas:

-Good narrative recap of last few weeks from @thedefivillain:

-Some ticker alfa from @TheDeFinvestor:

-Interesting tweet re: crypto from COO of Shopify @CanadaKaz generated some attention yesterday:

-TVL of nascent L2 @BLAST_L2 is now over $700M, h/t @tomwanhh:

-Interesting security-related thread/story from @AlexMasmej:

-Good summary/thread from @2lambro on Cosmos and the $ATOM-forking situation:

-Investing thoughts from @redphonecrypto:

-New video on crypto-gaming/GameFi from @BanklessHQ featuring @pythianism and @im_manderson:

-Parting wisdom c/o @BowTiedNightOwl:

Conclusion

Happy Monday friends and stay alert out there!

And please RT/subscribe/etc if you found this valuable! :)

Note

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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.