The Daily Degen- December 8th, 2024

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

Dec 08, 2024

Happy Sunday friends! 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: $3.85T

Gold: $2654.90

Oil (WTI): $67.20

US 10Y Treasury: 4.149%

Biggest Price Movers

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

Spotlight

The omnichain arc continues good anons… with a notable Bitcoin L2 on the horizons :)

Vertex Protocol’s cross-chain liquidity system @EdgeLayer has been allowing unlimited EVM deployments and liquidity-provision across the defi-verse… and new chains continue to fall under the Vertex umbrella! (see tweet from @lunatic317 below!)

As a result, Vertex is consistently one of the top 50 projects in all of crypto in terms of revenue generation, and last week alone $78,601 in USDC was distributed to VRTX stakers!

This is due to the advanced liquidity mechanisms and the 50+ perps and spot pairs they currently offer, allowing traders to take advantage of the manifold opportunities the nascent bull market is currently presenting!

Get started LP’ing and/or staking VRTX and/or trading now by clicking here!!!

Biggest TVL Movers + Else

Chains are mixed today. Top 20 chains up at least 50% on the weekly include Sui (#8), Hyperliquid (#10), PulseChain (#14), and Cardano (#16).

Protocols are also mixed today. Top 20 protocols up at least 50% on the monthly include JustLend (#5), Spark (#9), Pendle (#11), and Morpho (#15).

Here’s The Top 12 Fasest-Growing Chains By TVL On The Weekly With At Least $50M TVL (from @DefiLlama):

Here’s The Top 12 Fasest-Growing Protocols By TVL On The Weekly With At Least $50M TVL (from @DefiLlama):

Here’s The Top 12 Entities By 24 Hour Fee 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!)

-New project called @drip__trade. Twitter bio states “The first high frequency NFT exchange. Powered by @HyperLiquidX.” Followed by 6 of our mutuals. h/t @AresLabs_xyz:

-New project called @246_club. Twitter bio states “Assembling Lending Markets into a Unified Layer — Powered by Lending Restaking.” Followed by 10 of our mutuals. h/t @AresLabs_xyz:

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

-Defi TVL has surged over the last month and defi tokens are getting more and more attention, h/t @DaanCrypto:

-All eyes on the Saylor bid as the MicroStrategy flywheel continues, h/t @crypto_condom:

-Trump/Powell update, h/t @NickTimiraos:

-More crypto headlines, h/t @TheDeFinvestor:

-Much attention on $PEPE as memecoins rebound, h/t @Pentosh1:

-Seeing more talk about NFT’s on the TL the last few days, h/t @Tyler_Did_It:

-Base and Solana still dominating TVL flows, h/t @NPC_68:

-The long march to crypto rails replacing tradfi rails continues, h/t @DegenerateNews:

-Most 10x’s among existing medium-to-large cap tokens this year have been memecoins, h/t @Trim_Bot:

-Reminder that the dollar immediately weakened after Trump’s first inauguration in 2017 (this would be bullish for risk assets like crypto):

-Bullish thoughts from @HighCoinviction:

-New episode of @thebellcurvepod featuring @pythianism, @im_manderson, and @MikeIppolito_ discussing everything going on in crypto:

-@coinbureau did a video on AI Agents:

-New @notthreadguy livestream:

-New @theempirepod roundtable going over everything in crypto:

-Parting sentiments from @Awawat_Trades:

Conclusion

Happy Sunday friends! Stay alert out there!

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

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!

***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.