The Daily Degen- December 7th, 2024
All of today's news/data/alerts...
Happy Saturday friends! The excitement continues!
Let’s dive in!
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: $3.84T
Gold: $2654.90
Oil (WTI): $67.20
US 10Y Treasury: 4.149%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Reminder good degens that @vertex_protocol is now live on Base!
The Coinbase L2 is one of their newest deployments, as they continue building out their revolutionary omnichain liquidity model via their custom infra @EdgeLayer!
In this regard they are are offering some serious rewards to Vertex users on Base, as seen in the tweet below!
And as always, Vertex continues to provide over 50 on-chain spot + perps markets, cross-chain orderbook liquidity, lightning-fast trading, cross-margined accounts, and low trading fees as well!
In addition, users can also stake VRTX to receive real yield paid in USDC while also benefiting from the official VRTX buyback & burn program!
Get started now at app.vertexprotocol.com and make sure to follow them on Twitter for more updates!
Biggest TVL Movers + Else
Chains are mostly green today. Biggest gainers on the weekly with at least $20M TVL are exSat, Zircuit, and Hedera.
Protocols are also looking good today. Biggest gainers on the weekly with at least $20M TVL are IBTC Finance, Clearpool, Satoshi Protocol, Rho Markets, and Elixir.
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 Generation (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 @FogoChain. Twitter bio states “Experimental SVM Layer 1 | Pure Firedancer Client | Faster Than The Speed Of Light”. Followed by 18 of our mutuals. h/t @AresLabs_xyz:
-New Berachain project called @beratrax. Twitter bio states “Follow the Bera Trax”. Followed by 7 of our mutuals. h/t @AresLabs_xyz:
-New Hyperliquid project called @KatoshiAI. Twitter bio states “The Automated Trading Layer for @HyperliquidX ¸.·´¯`·.¸¸.·´¯`·.¸¸.·´¯`·.¸” Followed by 7 of our mutuals. h/t @AresLabs_xyz:
-New project called @HeyAnonai. No Twitter bio but is followed by 62 of our mutuals. h/t @AresLabs_xyz:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (single-exposure, no-IL, $20M+ 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
-ETH once again breached the 4k mark over the last 24 hours, h/t @alpha_pls:
-Increasing excitement about @phantom wallet’s new in-wallet cross-chain swapping mechanism, h/t @Grantblocmates:
-Additional headline curation from @cryptoIntegrat:
-Interesting discussion between @lex_node and @cobie on the Pudgy Penguins coin PENGU being launched on Solana rather than Ethereum or an ETH L2:
-Bitcoin needs to hit 186k to be larger in market cap than any individual stock, h/t @macrojack21:
-Interesting tweet about Bitcoin ETF’s from @nategeraci:
-Interesting chart showing ongoing SOL/BTC consolidation from @thedefivillain:
-More alfa from @0xGeeGee:
-Very unfortunate security-related loss + reminder from @hansolar21, related to a complex social engineering scheme related to seed investing:
-Seeing more and more bullishness regarding defi on the TL, h/t @Arthur0x:
-Bullish thoughts on the macro situation from @noahseidman:
-New interview with Zerebro founder @jyu_eth from @blocmatesdotcom:
-New macro/crypto roundtable from @Blockworks_:
-New @BanklessHQ video going over all the top stories in crypto:
-New crypto/macro livestream from @noahseidman:
-Parting wisdom from @danielgothits:
Conclusion
Happy Saturday friends! Don’t forget to touch some grass this weekend!
And please RT/subscribe/etc if you found this valuable!
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Note
The recent Tornado Cash ruling was quite significant, and suggests there will be less regulatory opposition to advances in on-chain privacy going forward- which is exactly what the team at @silentdao_ has been working on behind the scenes.
To summarize:
“Silent Protocol is building the ghost layer, a modular layer 1.5 providing compliant privacy built on the EZEE framework to become that structured playground for institutions and retail users that can provide compliant, secure and privacy preserving access to ethereum native and cross chain liquidity along with enabling access to applications.”
Our editor @rektdiomedes is helping bang the drum about everything @silentdao_ is working on, so make sure to follow them on Twitter for more updates!
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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.