The Daily Degen- December 6th, 2023

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

Dec 06, 2023

Happy Wednesday friends! The excitement continues!

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: $2028.80

Oil (WTI): $71.74

US 10Y Treasury: 4.161%

Stocks (from:@News4Moves):

Biggest Price Movers

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

Spotlight

Attention degens! In just under 3 weeks since STIP incentives have gone live @muxprotocol has added $1.8B in volume to the Arbitrum ecosystem!

Once again, @muxprotocol is essentially ‘the 1inch of perps’, aggregating liquidity and flow via the top perps dex’s to ensure traders get the lowest fees possible…

They were recently allocated 6M in ARB-incentives via the Arbitrum STIP campaign, and are using it to effectively slash opening/closing fees to zero for trades routed through GMX V1, GMX V2, Gains Network, and MUX itself!

So if you are an active tradoor utilizing GMX’s extremely popular new V2 architecture, make sure to check out @muxprotocol! Your trades will still get routed through GMX, but you’ll benefit by getting your opening/closing fees rebated to you weekly via ARB tokens from MUX!

We will be continuing to highlight the good gents at MUX so make sure to visit their app now to start trading!

Biggest TVL Movers + Else

Chains are extremely green today. Some notables include Avalanche (#7) at +14.68% on the weekly, Pulse Chain (#23) at -20.05% on the weekly, and Mantle (#28) at +33.85% on the weekly.

Protocols are extremely green today as well. Some notables include StakeWise (#58) at -32.35% on the weekly, Maya Protocol (#114) at +30.49% on the weekly, and Astroport (#119) at +37.26% on the weekly.

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):

Degen Alfa

(Exclusive data/information from our Official Sponsor @ChainEDGE_io - sign up today by clicking here!)

-24 Hour Smart Money Inflows/Outflows

-24 Hour On-Chain Summary From @OnChainWizard:

December 05, 2023 chainEDGE - Today's Summary BRC 20 tokens taking a hit this evening. Biggest inflows today were in RLB, BITCOIN, GROK and GEC. Smaller flows were seen in BREED, DOBO, ELON, VITA and OLAS. Outflows were seen in ARGS, MUBI, PENDLE, TAO and PAAL. From a new launch perspective, Uni Terminal, 888, OIB and Exans AI were the most popular with smart buyers. UNIT (trading terminal-esque), OIB (bot for BRC20) and Exans AI (AI ENS register) all look interesting at first glance from a fundamental perspective. From a portfolio view, GEC has taken the top spot in terms of $10k+ smart holders with 15, totaling $667k, with BANANA, BITCOIN, AEGIS and OLAS rounding out the leaderboard. GEC similarly leads in terms of total smart wallets at 21, with BITCOIN at 2nd place with 18. Other sub $20mm projects with 4+ $10k smart holders includes VRD, AIX, $VAULT and HYPR. New tokens with $20k smart holdings includes DOVA, OMNIX, PTKN, GEC, BSSB, GFY, DMIND, ROBO, WARPED, GTX and GB. Trader highlight of the day is 🚀 New Launch Pro 0x9e4...baf with a $40k realized gain on AGRS.

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 dex called @Dexter_Trade built on @therootnetwork. Twitter bio states “The latest DEX built on @therootnetwork Swap tokens, or provide liquidity to pools and earn fees on swaps 💱 Created by dimensionworkshop(dot)xyz”. h/t @toffeee248:

-New dex on Arbitrum called @perfectswapio. Twitter bio states “Low fees, fast transactions, ve(3,3) incentives with sustainable emissions for LPs native to Arbitrum”. h/t @toffee248:

-New trading bot project called @ibcdotbot. Twitter bio states “Interchain access via Telegram, coming soon...” h/t @Beacon_Early:

-Something new called @GroundsDAO. Twitter bio states “still brewing”. h/t @Beacon_Early:

-New GambleFi project called @Lucky8_Lottery. Twitter bio states “The world's simplest on-chain lottery.” h/t @Beacon_Early:

Top Stablecoin Yields

(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $1M+ TVL 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)

-Crypto starting to generate attention as prices surge back upward:

-Bitcoin outperforming rest of market, with $BTC-dominance now at 55%:

-Announcement from Coinbase re: new ability to send $USDC for free via link generated a lot of attention, h/t @njmacrae for short summary below:

-Google search volume chart for Bitcoin not yet going up in parallel with price, h/t @WClementeIII:

-Forgotten coins from last cycle like Helium and Jewel are getting bids, h/t @Dynamo_Patrick and @drakeondigital:

-@GMX_IO has been integrated in Binance’s self-custodial Web3 wallet, h/t @ICODrops:

-Everything BRC20-related getting lots of attention, h/t @resdegen and good thread/overview from @matrixthesun:

-Interesting macro thread from @PauloMacro:

-@doveywan on why this won’t be the last degenerate bull run:

-Good thread of narrative/ticker alfa/analysis from @Prithvir12:

-Trading wisdom c/o @TheFlowHorse:

-Update on Cosmos ecosystem from @Cryptocito:

-New interview with Anatoly Yakovenko on everything Solana from @laurashin:

-New airdrop-focused ‘Farms Of The Week’ video from @TaikiMaeda2:

-Parting wisdom from @0x_Kun:

Conclusion

Happy Wednesday degens!

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

***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.