The Daily Degen- December 6th, 2024

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

Dec 06, 2024

Happy Friday good degens! Let’s get after it!

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):

Total Crypto Market Cap: $3.77T

Gold: $2643.80

Oil (WTI): $68.34

US 10Y Treasury: 4.176%

Biggest Price Movers

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

Spotlight

Another important update from the team at @DIAdata_org - where DIA Lumina staking has begun!

Indeed, the DIA Genesis Staking Pool is already full, as 1,000,000 DIA was staked in less than 8 hours after the pool was opened!

This will provide rewards to early adopters and support the network’s mainnet launch in a “genesis” staking program...

As detailed in the full article:

"While the main staking functionality will launch on Lasernet early next year, we are excited to introduce the DIA “Genesis” staking program. Genesis staking is designed to reward early adopters of the Lasernet staking mechanisms and long-term holders as well as incentivize liquidity migration to the new Lasernet chain."

Once again, DIA is revolutionizing the role of oracle operations within the world of crypto- with an all-star list of partners including Conduit, Celestia, Hyperlane, and more- and we will be continuing to shine a light on everything the team is shipping, so stay tuned for for further updates and make sure to follow DIA on Twitter as well!

Biggest TVL Movers + Else

Chains are quite red today. Fastest-growing top 25 chain on the weekly is Sui (#8) at +22.59%.

Protocols are also quite red. Fastest-growing top 50 protocol on the weekly is Kelp DAO (#27) at +50.30%.

Here’s The Top 12 Fastest-Growing Chains By TVL On The Weekly With At Least $100M TVL (from @DefiLlama):

Here’s The Top 12 Fastest-Growing Protocols By TVL On The Weekly With At Least $100M 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)

-After being one of the most ‘down bad’ defi tokens over the last two years, CRV is finally seeing signs of recovery, surging up over the $1 mark in recent weeks… However it is still far below its high’s from last cycle… Do you have a view on its trajectory from here?!?Express your thesis via spot or leverage now with Vertex 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!)

-New project called @hypurrfi. Twitter bio states “Hypurr XLerate your yield. Money printer goes purr. Borrow $USDXL against your assets natively on Hyperliquid.” Followed by 3 of our mutuals. h/t @AresLabs_xyz:

-New liquid-staking project on Aptos called @EchoProtocol_ has been added to @DefiLlama. Twitter bio states “Move⇥⇤BTC • Bitcoin Liquid Re-staking • Yield Infrastructure”. Followed by 26 of our mutuals.

-New/newish yield protocol on Solana called @vectis_finance has been added to @DefiLlama. Twitter bio states “Explore diverse yield solutions tailored to meet varying needs in Solana.” Followed by 77 of our mutuals.

Top Stablecoin Yields

(note: these are the top Stablecoin Yields, sourced from @DefiLlama (single-exposure, no-IL, $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 alert today.

Important News And Analysis

-Bitcoin saw a major leverage flush over the last 24 hours, h/t @DegenerateNews:

-Update on where things stand from @fejau_inc:

-Trump names David Sacks as White House AI + Crypto Czar:

-Thoughts on the above from @danielgothits:

-@KaminoFinance announces a new intents-based dex on Solana, h/t @DegenerateNews:

-Another interesting Altcoin Season Index stat from @milesdeutscher:

-Recent defi news, h/t @TheDeFinvestor:

-Many continue to be very bullish on the AI Agent sector, the total market cap of which is currently $10B, h/t @sandraaleow:

-Crypto has been outperforming in the face of deteriorating short-term macro liquidity situation, thread on the below from @Jamie1Coutts:

-Cycle thoughts from @redphonecrypto:

-New episode of NFA Live:

-New @BanklessHQ video on AI agents, featuring @TrustlessState and @cryptopunk7213:

-New @0xResearch roundtable discussing Hyperliquid, MagicEden, and a bunch of other topics:

-Interesting observations from @ayyyeandy:

-Parting thoughts from @zerototom:

Conclusion

Have a great Friday and stay alert out there friends!

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.