The Daily Degen - February 15th, 2023

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

Happy Wednesday fellow degens!

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 $22186.93 (0.25% 1h) 2: Ethereum price is $1551.82 (0.20% 1h) 3: Tether price is $1.00 (-0.00% 1h) 4: BNB price is $298.88 (0.40% 1h) 5: USD Coin price is $1.00 (-0.00% 1h) 9: Dogecoin price is $0.09 (0.15% 1h)

СryptoBubblesDaily @cryptobubbles24

The global #crypto market cap today is $1.08T, a 2.53% change in the last 24h. Total trading volume in the last 24h is at $89.7B. #BTC dominance is at 39.69% and #ETH - 17.35%. 15.02.2023 6:55:03 (UTC) #DeFi #NFT #BSC #Tether #AVAX #XRP #TRX #Solana

Gold: $1,835.70

Oil (WTI): $77.79

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 @NeutraFinance raise awareness about their new offers on Arbitrum!

Neutra has built a delta-neutral GLP strategy utilizing @GMX_IO, as well as a ‘RealYield’ focused tokenomics setup, and just completed their launch in January!

Here’s a couple recent updates from them:

Neutra Finance | LIVE 🔥 @Neutrafinance

📣Partnership announcement📣 We’re thrilled to announce a partnership with @Bond_Protocol 🤝 Give users the chance to be part of Neutra's success and collaborate on infrastructure to facilitate sustainable growth. Upcoming👀 - AMA - $NEU Bond sales - Marketing collaborations

Neutra Finance | LIVE 🔥 @Neutrafinance

Hi Neutrons, The NEU/ETH Nitro Farming pool is now Live on🔥 Where : @CamelotDEX Reward: NEU+GRAIL+xGRAIL Don’t miss the opportunity to get the two most popular tokens on @arbitrum , $NEU and $GRAIL ! Go Explore👇 app.camelot.exchange/nitro/0x644f2a…

Biggest TVL Movers

Chains are mostly green today. Top 40 protocols green on all three timelines (daily, weekly, monthly) include Arbitrum (#4), Cardano (#24), Astar (#31), and Hedera (#39).

Protocols are also very green today. Some notables include Synthetix (#25) at -10.93% on the weekly, BendDAO (#39) at +15.93% on the weekly, Algofi (#58) at -10.75% on the weekly, Zyberswap (#75) at +110% on the weekly, and Camelot (#97) at +59.28% on the weekly.

Here’s The Top 12 Chains By TVL (from @DefiLlama):

Here’s The Top 12 Protocols By TVL (from @DefiLlama):

Other Data Points

Bitcoin Fear/Greed Index:

(from @BitcoinFear)

Bitcoin Fear and Greed Index @BitcoinFear

Bitcoin Fear and Greed Index is 53 ~ Neutral Current price: $22,222

Ethereum Fear And Greed Index

(from @EthereumFear):

Ethereum Fear and Greed Index @EthereumFear

Ethereum Fear and Greed Index is 51 ~ Neutral Current price: $1,557 opensea.io/assets/0x7fa81… etherscan.io/token/0x7fa813…

Crypto Volatility Index

(from @CVIdaily)

CVI Daily @CVIdaily

The Crypto Volatility Index is at 55.17 📊 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 protocol called @0xEarlybird_. Twitter bio states “The most gas-efficient and trust-minimized cross-chain messaging protocol. Built by @0xOrbLabs 🔮...”

Earlybird Protocol @0xEarlybird_

Introducing Earlybird! We’re an interoperability protocol that provides a wide variety of interoperability libraries with different tradeoffs between usability and security so that developers can choose the perfect interoperability solution for their applications. A 🧵...

-New protocol called @0xMagicLane that appears to be connected to the above-mentioned @0xEarlybird_. Twitter bio states “An efficient, secure and configurable omnichain token wrapping protocol. Built by @0xOrbLabs🔮 & powered by @0xEarlybird_ 🚀...”

MagicLane Protocol @0xMagicLane

Introducing MagicLane. We are excited to be coming out of stealth. We are an efficient, trust-minimized, and composable #omnichain token and messaging platform built on @0xEarlybird_. @0xMagicLane is our solution to the app-level vs. shared security models conundrum. A 🧵...

-Something new on Arbitrum called @Vaultkaofficial has been added to @DefiLlama. Twitter bio states “Ultimate vault for all DeFi yield 🐰 | Empowers higher stable coin yield on #arbitrum.”

Vaultka @Vaultkaofficial

Vaultka enters the $GLP War, ready to innovate #defi. 🚀🔥 #Vaulltka $GLP $GMX #Arbitrum @GMX_IO @arbitrum

-Previously-mentioned @FluxDeFi has been added to @DefiLlama (Eth Mainnet). Again, Twitter bio states “Decentralized lending meets tokenized securities.”

Flux Finance @FluxDeFi

1/ We are delighted to announce that Flux Finance is live! Flux is bringing US Treasuries yield on-chain to permissionless lenders everywhere, creating the substrate upon which a new on-chain economy can form.

blog.fluxfinance.comFlux Finance is LiveWe are thrilled to announce that Flux Finance is live, bringing yield from US Treasuries to investors everywhere. Flux is an autonomous, transparent, decentralized lending protocol connecting the on-chain and off-chain worlds by supporting permissionless assets like stablecoins as well as permissio…

-Previously-mentioned @Level__Finance has been added to @DeBankDefi (BSC). Again, Twitter bio states “Decentralized and non-custodial perpetual market on #BNB Chain with custom risk management and innovative LP solutions…”

LEVEL Finance #RealYield @Level__Finance

#LEVEL 24h stats are absolutely incredible! ▫️ $100M in trading vol 🎉 ▫️ $100k+ in #RealYield💆 We currently rank #2 in 24h fees among all perp DEXes in the whole #crypto ecosystem, only behind @GMX_IO. We rank #2 in 30d(!!) fees on @BNBCHAIN, only behind @PancakeSwap. $LVL

Top Stablecoin Yields

(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, minimum $5M+ TVL) and @stable_fish - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)

Security Alerts

-Lots of scams related to the @blur_io airdrop. Alert from @PeckShieldAlert below:

PeckShieldAlert @PeckShieldAlert

#PeckShieldAlert Scammers pretend as @blur_io Deployer to deploy fake $Blur and airdrop to Coinbase, Justinsun, and Yuga Labs, in an attempt to trick folks into thinking it's the official #Blur #Airdrop. After removing liquidity, they created a fake $SHIBARIUM. Be alert! #DOGE

-@Peckshield released the following alert:

PeckShield Inc. @peckshield

Hi @MultichainOrg one victim just lost 87 ETH ($134.8K): etherscan.io/tx/0x192e2f19a…

Other News And Analysis

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

-Inflation report came in yesterday:

Charlie Bilello @charliebilello

Overall US CPI moved down to 6.4% in January, the 7th consecutive decline in the YoY rate of inflation and the lowest level since October 2021. US Core CPI (ex-Food/Energy) moved down to 5.6%, the 4th consecutive decline in the YoY rate and the lowest level since November 2021.

Truflation @truflation

The 12-month US inflation came in quite hot at 6.4% in Jan, down from 6.5% in Dec but above the market consensus of 6.2% and way above the Truflation forecast of 5.8% The MoM inflation was 0.5%, on point with the market consensus and higher than the Truflation prediction of 0.2%

Truflation @truflation

We were off in final number and overall trends, which comes as quite a surprise. Our model pointed to a very cold CPI report, even without the new BLS weights and methodology adjustments. We'll need to adjust.

-@AndreasSteno on the above:

AndreasStenoLarsen @AndreasSteno

CPI report not really the "disinflationary" biggie that we had hoped for, but seems as if the market reaction is slightly dovish as the trend continues to be lower 1/n

-Blur airdrop was dominant topic of discussion today on Twitter:

Conor @jconorgrogan

The largest BLUR airdrop farmer has received 3.2M BLUR, worth about $1.9M at current prices There are about 25 single-wallet BLUR millionaires thus far including: -MachiBigBrother -SpaceNFT.eth -Gamoor.eth -Linshan.eth -gege.eth

Wu Blockchain @WuBlockchain

Blur also announced Tokenomics when releasing the airdrop. The total amount of BLUR is 3 billion, 51% of which are allocated to the community, 29% to core contributors, and 19% to investors. 360 million (12%) of the 51% have been used for this airdrop. Read more:… https://t.co/27vsQ17ZSl

Wu Blockchain @WuBlockchain

After Blur token went online, it reached a maximum of $8.36 on OKX, and it is currently less than $1, with a market value of about $2b. 76% of the 360m BLUR airdrops have been received, of which 45.7% of the airdrops are between 1k-10k, 34.5% are between 100-1k, and the maximum… https://t.co/5cVTWTSuy9

Bankless @BanklessHQ

🚨LIVESTREAM: $BLUR is LIVE, and so are we @PacmanBlur, Founder of @blur_io, joins the show to talk about the NFT marketplace's long-awaited token airdrop! Show starts at 4:00pm PT / 7:00pm ET 👇Set a reminder👇

-Polygon zkEVM announcement:

The Tie @TheTieIO

Earlier today, @0xPolygon announced that after years of extensive research, development, and testing, Polygon zkEVM mainnet is officially set to launch on March 27th. Here's what you need to know:

Mihailo Bjelic @MihailoBjelic

It's official: Polygon zkEVM mainnet will be launched on March 27th! 🔥 After more than a year of intense and inspiring research, development and testing, we are incredibly proud to launch the FIRST EVER zkEVM mainnet! Join us on this day to celebrate the future of scaling! 💫

-US bond market updates from @lisaabramowicz1:

Lisa Abramowicz @lisaabramowicz1

U.S. 6-month T-bill yields rise to the highest since 2007, h/t @tomkeene

Lisa Abramowicz @lisaabramowicz1

Since the end of January, there's been a significant repricing of Fed rate hikes. Last month, traders were pricing in terminal rates of 4.9% this year, with about 40bp of rate cuts by yearend. Now they're pricing in rates getting up to 5.3% and declining to just 5.1% by December.

-Observation from @AkadoSang:

Akado アルカード 👨‍🌾🌾 @AkadoSang

We’re apparently at a time on the cycle where even a rush of bad news and events are not taking prices down This is often sign of reversal

Tree of Alpha @Tree_of_Alpha

-Kraken sued -Can't mint more BUSD -Gensler on an unhinged warpath -Inflation not slowing down >Doesn't give a fuck https://t.co/zggqKEmppy https://t.co/tDhMZG91ND

-@JasonYanowitz on $USDC/Circle:

Yano 🟪 @JasonYanowitz

Lot of FUD about USDC right now. Keep in mind: • BNY Mellon is their custodian • BlackRock manages reserves • Visa settles transactions in USDC • 100% backed by cash and treasuries • Audited by Deloitte, annual audits filed w SEC I think the FUD is overblown.

-Continuing discussions around impact of noted dove Lael Brainard leaving Fed and becoming Biden’s top economic advisor:

Nick Timiraos @NickTimiraos

Lael Brainard’s departure from the Fed to lead Biden's National Economic Council could be notable because of the role she played laying out a case for a marginally less aggressive monetary policy in a series of speeches in recent months

wsj.comLael Brainard Set to Lead White House National Economic CouncilThe Fed vice chair has advocated a steady but careful approach to raising interest rates to combat inflation.

-Bullish sentiments on $BNB from @OuroborosCap8:

Ouroboros Capital @OuroborosCap8

1/N: Buying BNB here. Think we're close to peak FUD and the BNB/BTC ratio shows it. @cz_binance and @binance has proven time and time again how they sail through storms to re-emerge stronger and I doubt it will be any different this time. Not investment advise, views are my own.

-US real estate thoughts from @TheRealEstateG6:

The Real Estate God @TheRealEstateG6

Funny thing about this cycle is that almost all of the distress is with institutions Mom & pop owners took low leverage and have no need to sell Meanwhile institutions took out highly levered floating rate bridge debt on risky assets It’s the “smart money” that’s in trouble

-@jchervinsky thread on regulatory situation:

Jake Chervinsky @jchervinsky

1/ After a streak of hostile moves by US regulators, with rumors of more to come, fears of a crypto crackdown have never been higher. It may be tough, but we can chart a path through it. Let’s discuss the state of crypto policy: what’s happening, why, and what we do next 🧵

-@poordart and @DegenSpartan on the GamblingFi narrative:

poordart @poordart

@TheStalwart $16bn in superbowl bets yesterday, and people really saying there's no market for a 24/7 infinite degeneracy online casino ... a "failed crypto narrative"? We just getting started

찌 G 跻 じ MBA, CFA, FRM, CFP, NGMI, HFSP, HENTAI @DegenSpartan

wake up babe new narrative just dropped

-Very thorough thread on @HegicOptions from @0xsurferboy:

Surf @0xsurferboy

1/23 DeFi Options are hot, Arbitrum is even hotter. Add both together and you get Hegic 📈 (@HegicOptions) Is it a match made in heaven? A Valentine's day special for the crypto bros ❤️ 🧵

-Excellent article on @y2kfinance from @dirty_digs:

Dirt Diggler @dirty_digs

@y2kfinance is everything you've been looking for = 🚜 Pegged Asset Hedging 🚜 @arbitrum Airdrop Checklist 🚜 LSDs 🚜 Options 🚜 Real Yield 🦋 [ @redactedcartel ] frenz Check out the full report for the alpha 👇 dirtydiggler.substack.com/p/y2k-finance-…

dirtydiggler.substack.comY2K Finance ($Y2K) 🙂 Fear the depeg no moreWhat’s this hot new protocol ticking every box on the spring cleaning list? Oh its $Y2K and its got you covered on Arbitrum’s Airdrop hunt ✔ the LSDs ✔ Options ✔ Real Yield ✔ & the [ cartel ] 🦋

-Wealthion released a new interview with popular macro thinker @NorthmanTrader:

-Weekly analysis of important crypto news from @CoinBureau:

-Positive sentiment from @ethersole:

Ethersole @ethersole

You cannot convince me there is a more +EV space to spend your time on than crypto right now. The opportunities are seemingly endless and quite often you get rewarded heavily just for participating. It won't always be this way, take full advantage.

-Parting thoughts from @AshBennington:

Ash Bennington @AshBennington

Longer-term, I’m more optimistic than ever on crypto. Back in 2000, when I was one of the young guys on Wall St I remember the old guys asking me, basically, “Hey, kid. That internet thing was cute — what are you gonna do with the rest of your life now?” Well, I’m still here.

Conclusion

Have a great Wednesday and have fun out there friends!

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

-

Note

Our official sponsor for the month of February is @NestedFi! Nested is a new Social Trading protocol which allows users to create portfolios (and copy-trade other traders) on all the main EVM chains…

It also allows for easy dca’ing, as well as non-kyc’d fiat-onboarding via integration with Mt Pelerin!

Nested is building out an extremely cool platform that appeals to both sophisticated on-chain degens as well as total crypto newbies and serves both extremely well!

Highly recommend checking them out:

Nested 🧩 @NestedFi

Crypto exists because of the corruptible nature of centralised power. Decentralised, permissionless money is essential for societal freedom. We are on the path and still have a long journey ahead. But make no mistake, crypto & DeFi are inevitable.