The Daily Degen - February 10th, 2023

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

Happy Friday friends! Bit of a nuke via ol’ Gensler yesterday!

Stats/alerts/etc at top and tweets/news/links/videos/etc at bottom as always!

Market Update

Crypto:

Top Cryptocoins Ticker @TickerTop

1: Bitcoin price is $21915.37 (0.01% 1h) 2: Ethereum price is $1552.33 (-0.02% 1h) 3: Tether price is $1.00 (0.00% 1h) 4: BNB price is $308.78 (0.37% 1h) 5: USD Coin price is $1.00 (0.01% 1h) 10: Dogecoin price is $0.08 (-0.22% 1h)

СryptoBubblesDaily @cryptobubbles24

The global #crypto market cap today is $1.07T, a -4.12% change in the last 24h. Total trading volume in the last 24h is at $98.8B. #BTC dominance is at 39.58% and #ETH - 17.51%. 10.02.2023 9:25:07 (UTC) #DeFi #NFT #BSC #Tether #AVAX #XRP #TRX #Solana

Gold: $1,864.10

Oil (WTI): $77.74

Stocks:

woodstock.club | SNS型投資 @woodstockclub

🇺🇸Market Recap(変動率)🇺🇸 🈯ETF $VOO (S&P 500): +1.29% 📈 $DIA (Dow Jones): +0.898% 📈 $QQQ (Nasdaq 100): +2.072% 📈 💲GAFAM終値 $GOOGL: +4.606% 📈 $AMZN: -0.068% 📉 $META: +2.988% 📈 $AAPL: +1.925% 📈 $MSFT: +4.202% 📈 🔐暗号資産 $BTC: +2.101% 📈 $ETH: +3.326% 📈

Biggest Price Movers

(From @coingecko top 1000)

Spotlight

We are helping raise awareness about an extremely cool new project called @zkxprotocol!

ZKX is the first decentralized self-custody perpetual futures exchange on Starknet…

They are planning their testnet release for March 14th, and have recently raised the ante of their gamified Community Incentives Program and announced their Ambassador Program in partnership w/ Dework!

Check our their thread below for more info or fill out the typeform directly!

ZKX @zkxprotocol

Thrilled to announce our ZKX Ambassador Program in partnership w/ @deworkxyz ⚡️ We're looking for 50+ ambassadors from the world of CT & emerging markets. Apply your skills to exclusive bounties and win Yakuza NFTs, token rewards & much more 😉 1/4 🧵 zkx.fi/blogs/zkx-amba…

zkx.fiZKX Ambassador Program

Biggest TVL Movers

Chains are very red today. Some notables include Arbitrum (#4) at +9.60% on the weekly, Fantom (#8) at -16.20% on the weekly, Canto (#14) at +13.47% on the weekly, Klaytn (#17) at -5.97% on the monthly, and Astar (#34) at +22.05% on the weekly.

Protocols are very red today as well. The only top 50 protocols green on the weekly are RocketPool (#15), Arrakis Finance (#22), Euler (#29), Abracadabra (#30), BendDAO (#43), Synapse (#44), Velodrome (#45), and Stader (#47).

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 Dex’s By 7 Day Volume (from @DefiLlama):

Other Data Points

Bitcoin Fear/Greed Index:

(from @BitcoinFear)

Bitcoin Fear and Greed Index @BitcoinFear

Bitcoin Fear and Greed Index is 48 — Neutral Current price: $21,820

Ethereum Fear And Greed Index

(from @EthereumFear):

Ethereum Fear and Greed Index @EthereumFear

Ethereum Fear and Greed Index is 47 - Neutral Current price: $1,546 opensea.io/assets/0x7fa81… etherscan.io/token/0x7fa813…

Crypto Volatility Index

(from @CVIdaily)

CVI Daily @CVIdaily

The Crypto Volatility Index is at 58.27 📊 The CVI ranges between 0-200 0-85 ≈ Low volatility 85-105 ≈ Medium volatility 105-200 ≈ High volatility Trade #volatility (CVOL): Platform 👉🏻 cvi.finance Sushiswap 👉🏻 sushi.com/swap?token0=0x… @official_CVI $CVOL $GOVI

New Protocols

(note: this includes new protocols we find through combing Twitter each day, and we also include every (newly launched) protocol added by @defillama and @debank (excluding Tomb forks/reflection tokens/etc) - hence disclaimer: these are not pre-vetted by us so make sure to DYOR!)

-New bridge protocol called @moverxyz. Twitter bio states “The first bridge between EVM networks and #Aptos”.

Mover @moverxyz

Hey Aptos Community! We are thrilled to announce the launch of Mover bridge on Mainnet, bringing fast and cheap cross-chain experience. Along with Aptos, Mover currently supports Arbitrum with the ability to move USDC and USDT tokens.

-Something called @TokenGated. Twitter bio states “GATED sends your community the most important updates from Discord and Telegram via a daily email. More Alpha. Less FOMO.” h/t @shondradanielle:

Shondra.eth @shondradanielle

📲Gated📲 Last month, @TokenGated deployed to Mainnet and we created tokens for our beta users. We are now working with them to get feedback on new features. We are also putting together a launch marketing strategy to start onboarding new communities

-Something new called @veaxlabs. Twitter bio states “The Future of Decentralized Trading”.

Veax Labs @veaxlabs

🔥Today, we’re proud to announce the launch of #VeaxTestnet 🚀 Be the first to try out this new tech here testnet.veax.com 📣 Twitter space for the full details about the product, and the rewards program, here => https://t.co/hhf40KvpGF

-New Arbitrum protocol called @arcadeum_io. Twitter bio states “Arcadeum is the Uniswap of on-chain betting. Provably fair quantum RNG and up to 999x payouts. Stake ARC for fees. Deposit into ALP to own a share of the house.” h/t @Crayola_Capital:

CrayolaCapital (🖍,🖍)(💙,🧡) @Crayola_Capital

Could be a solid @arbitrum play launching this evening. @arcadeum_io will have a fully functioning online casino ready to go at launch and innovative profit sharing tokenomics. Check out the website for a full breakdown. arcadeum.io $ARC $xARC $esARC $ALP

Security Alerts

-@peckshield released the following alert:

PeckShield Inc. @peckshield

1/ @dForcenet was exploited in a flurry of txs on Arbitrum & Optimism (one hack tx: arbiscan.io/tx/0x5db5c2400…), leading to the total gain of ~$3.65m for the exploiter.

PeckShield Inc. @peckshield

Hi @dForcenet , you may want to take a look: https://t.co/htCZcVXvYJ

Top Stablecoin Yields

(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, minimum $1M+ TVL) and @stable_fish - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)

Other News And Analysis

(key news, twitter threads, articles, videos, etc from last 24 hours)

-Gary Gensler/regulation/Kraken/Coinbase news dominated crypto headlines today:

Watcher.Guru @WatcherGuru

JUST IN: #Crypto exchange Kraken shuts down staking following SEC charges.

Gary Gensler @GaryGensler

Today @SECGov charged Kraken for the unregistered offer & sale of securities thru its staking-as-a-service program. Whether it’s through staking-as-a-service, lending, or other means, crypto intermediaries must provide the proper disclosures & safeguards required by our laws.

Jesse Powell @jespow

Thank you. Some guidance would be appreciated. The “This is wrong but I won’t tell you how to do it right. Want to find out if X works? Try it and see what happens.” approach does not help the industry nor consumers. We aren’t anti-regulation but we need a clear path to operate. https://t.co/KmOVkUi49r

Hester Peirce @HesterPeirce

My thoughts on today's Kraken settlement: https://t.co/mijt3MNN4U

Frank Chaparro @fintechfrank

Coinbase says Kraken news will not affect their staking program Sources say they’re willing to fight SEC on this issue

-Related from @AutismCapital:

Autism Capital 🧩 @AutismCapital

Today the SEC, IRS, and NYDFS have decided to go thermonuclear on Crypto. Kraken has shuttered their staking services and been fined $30M, they have been issued a summons by the IRS for user data, and Paxos is being investigated by the NYDFS. Rough waters ahead, tread carefully.

-Tether releases Q4 numbers:

Paolo Ardoino 🍐 @paoloardoino

700M Q4/2022 profits for #tether A thread 🧵 $USDt

Tether @Tether_to

#Tether Continues To Demonstrate Strength Of Reserves, Reveals $700m Profits For Q4/2022 In Latest Attestation Report https://t.co/NlPLC3Qil9

-@truflation update:

Truflation @truflation

Truflation summary, Feb 9, 2023 🇺🇸 5.20% 🇬🇧 17.68% Daily inflation indexes at truflation.com

-Aave stablecoin $GHO now on Goerli testnet:

Blockworks @Blockworks_

A new stablecoin from popular DeFi protocol Aave has just dropped on Goerli. @_bessieliu reports. blockworks.co/news/aave-stab… https://t.co/HzrSQ8pHXy

Psquare Daily @pSquare_Daily

🔔 Aave has deployed its native stablecoin, GHO, on Ethereum’s Goerli testnet, where developers and potential adopters can access the stablecoin’s codebase and test how it works. ➡️ GHO’s mainnet launch requires community discussion and approval.

-@DefiLlama keeps shipping:

0xngmi (aggregatoor arc) @0xngmi

We've built an aggregator for NFT loans! Now you can type any NFT collection and see all the loans that you can take against it across all NFT lending protocols

0xngmi (aggregatoor arc) @0xngmi

australia's treasury department just released a report talking about llamapay!

-Interesting stats from @charliebilello:

Charlie Bilello @charliebilello

Bulls finally outnumbered Bears in this week's AAII Sentiment Poll, ending a record streak of 44 consecutive weeks of bearish sentiment. We haven't seen more Bulls than Bears in this poll since March 2022. $SPX

Charlie Bilello @charliebilello

In the latest Gallup poll 50% of Americans said they were worse off than a year ago. Since 1976, the only other times 50% or more said they were worse off: 2008 and 2009.

-Google/Alphabet stock continues downturn:

Holger Zschaepitz @Schuldensuehner

OUCH! #Alphabet stock has declined 12.5% since AI presentation, losing $172bn in market value. AI-powered queries could cost Alphabet about five times as much as the current approach.

-$UMAMI updates, h/t’s @0xWenMoon and @BenGlove:

0xWenMoon🍏🫐 @0xWenMoon

Great article by @FlywheelDeFi detailing the events at @UmamiFinance recently. Tl;dr is that the team of Umami Labs secured the Treasury and Code for the DAO from the grasp of the CEO who, in retaliation, dumped his UMAMI position overnight. Let's dive in... 1/🧵👇

_gabrielShapir0 @lex_node

wow, it truly is "devCos-rugging-tokenholders-for-'regulatory -reasons' season"... I warned you guys. . . their lawyer (@DumbApe69420 , a #LeXpunKer & (imo) stellar atty) seemingly was pushed out for having more cypherpunk inclinations than the CEO... https://t.co/g8LUx5jPtw

FaultProofBen @BenGiove

I support this proposal from @crypto_condom I believe @UmamiFinance can have a bright future even after the DFA rug Given that $UMAMI is trading well above RFV I think the team should ship V2 vaults and see where it goes

umamifinance.medium.comUmami DAO Proposal #1: Instatement of Core Contributors and Tokenomics SolidificationBelow is a draft proposal by Umami community member Afirebrand, better known as CryptoCondom on Twitter. Below they detail a way for Umami…

-Excellent thread on Telegram’s @ton_blockchain from @0xsurferboy:

Surf @0xsurferboy

1/25 Re-visiting Telegram's L1 @ton_blockchain "Hidden Gem or Outright Scam" is a common description for L1 chains. But in the case of TON, it's perhaps the most undervalued and overlooked L1 gem in my opinion. 🧵

-Good thread on @vertex_protocol from @RiddlerDeFi:

RIDDLΞR (💙,🧡) (Behind on DMs) @RiddlerDeFi

1/ @vertex_protocol is getting closer and closer to the mainnet and the future launch of $VRTX I've prepared a thread that looks deep into this DEX architecture 🏦 Let's see how Vertex takes on the #CEX vs #DEX challenge🔎 👇🧵

-Excellent new video from @Dynamo_Patrick:

-@ThorHartvigsen Arbitrum portfolio video:

-Good introductory guide and/or refresher video on Metamask from @coinbureau:

-Parting wisdom from @DeFiHashira, @0x_kun, and @basedpotato4:

Hashi🔺(Early Bull Arc) @DeFiHashira

The simple life can't exist if you haven't done the work In tales and stories, the simple life is shown in the end Only after the hero went through hardship and battle does he return to his village Fight for your simple life Work for your simple life Reach your happy ending

Kun @0x_Kun

I can tell you from experience that the people here in bear markets are the winners in the bull. If you werent buying capitulation last year and not researching thinking about crypto everyday you are pre destined to be this cycles exit liquidity

Kun @0x_Kun

Investing is like a sport except there is no selection criteria. You can show up and play in the NBA, NFL whatever investing sport you like Showing up bull market to bull market is like missing training, pre season and just expecting to win when its all done in a bear market

basedpotato @BasedPotato4

I’m fairly certain at this point everyone I speak to regularly is like infinitely better than me at crypto - almost as though only the strongest have survived

Conclusion

Have a great Friday fellow degens!

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

-

Note

@NestedFi is our official sponsor for the month of February! They are a new Social Trading protocol which lets users create portfolios and copy-trade other portfolios on ETH Mainnet, Arbitrum, Polygon, Avalanche, Optimism, and BSC…

Nested allows for non-KYC fiat-onboarding through their integration with Mt Pelerin, as well as easy automatic dca’ing.

Here’s a recent thread on them from @Subli_Defi:

Subli 🦇🔊 @Subli_Defi

1/12 #Crypto is a Niche in the Global Finance system. Finance is Complex! #Defi is a Niche within Crypto. Crypto is Complex! So how to invest in #Crypto as easy as 1, 2, 3 with no KYC and non-custodial wallet? Defi just becomes Easy!