Happy Saturday friends! The ides of February are upon us!
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: $3.36T
Gold: $2893.70
Oil (WTI): $70.74
US 10Y Treasury: 4.478%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Excitement continues to build with @maplefinance good anons!
As of today their institutional lending + yield side has hit $5.5B in loans originated, with over $600M in current TVL, and their public-facing defi instance @syrupfi is providing some of the best on-chain USDC yields in all of crypto!
If you want a great introduction to Maple, the lore surrounding the project, and the insanely bullish outlook for the $SYRUP community heading into 2025, we highly encourage you to check out the below interview from last month with co-founder @joe_defi!
In addition, make sure to follow @maplefinance and @syrupfi on Twitter for additional updates, and stay tuned as we continue highlighting everything they are doing!
Biggest TVL Movers + Else
Chains are mixed today. Fastest-growing chains on the weekly with at least $100M TVL are Bob, Berachain, Sonic, Cardano, and Merlin.
Protocols are also mixed today. Fastest-growing protocols on the weekly with at least $100M TVL are SoSoValue, Cygnus, Concrete, BEX, and BitFi.
Here’s The Top 12 Chains By TVL (from @DefiLlama):
Here’s The Top 12 Protocols By TVL (from @DefiLlama):
Here’s The Top 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 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 @eggsonsonic has been added to @DefiLlama, categorized as a ‘reserve currency’ on Sonic. Twitter bio states “Incubating the next wave of DeFi on @SonicLabs 💥” Followed by 29 of our mutuals.
-New project has been added to @DefiLlama called @hyperunit, categorized as a ‘Bridge’ on Bitcoin. No Twitter bio. Followed by 152 of our mutuals.
-New project has been added to @DefiLlama called @NOMEprotocol, categorized as an algo-stable on Berachain. Twitter bio states “Synthetic algostable boosting berachain ecosystem 🐻 Join our bear den... ⛏ $USDbr as algostable and $NOME as the protocol token.” Followed by 9 of our mutuals.
-New project called @thekingprotocol has been added to @DefiLlama, categorized as a liquid restaking protocol on ETH Mainnet. Twitter bio states “THE restaking rewards standard. Increasing the liquidity of shared security”. Followed by 7 of our mutuals.
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $1M+ TVL) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Important News And Analysis
-The Javier Milei memecoin and Abu Dhabi buying $BTC were the top stories of the last 24 hours, h/t @cryptoIntegrat:
-The Milei memecoin stuff is generating much heated discussion, example c/o @Tyler_Did_It below:
-Reminder that the entire market cap of Bitcoin is barely larger than the Norwegian Government Pension Fund, h/t @Andre_Dragosch:
-2025 continues to be quite eventful in crypto land, h/t @0xjaypeg:
-Upcoming OpenSea token is trading at a $1.2B FDV pre-market and upcoming Kaito token is trading at $1.7B, h/t @0xGeeGee:
-Kraken launches institutional custody support for $TAO/Bittensor, h/t @JosephJacks_:
-@0xfluid continues to be one of the biggest recent success stories in defi, h/t @0xThoor:
-"COIN and HOOD overtaking JPM, BAC, etc is a matter of “when” not “if”. One of the best trades of the decade." - @EffortCapital:
-Many crypto participants continue to earn substantial airdrops purely from writing on Twitter, h/t @ahboyash:
-Very interesting macro story for those investing in the US, that the governor of Florida wants to abolish property taxes:
-Reminder not to revenge trade or trade out of boredom, h/t @danielgothits and @thedefiedge:
-New episode of the All In Podcast featuring guest Naval Ravikant:
-New crypto/macro video from @Blockworks_ featuring @MikeIppolito_ and @qthomp:
-New video from @Lightspeedpodhq featuring @santiagoroel with ‘An update on the Solana thesis’:
-New video from @Dynamo_Patrick going over Sonic defi and yield farming opportunities:
-New roundtable discussion from @theempirepod with the title ‘Can ETH be saved?’:
-Newly published macro video from Raoul Pal and Michael Howell that’s generating a lot of attention:
-Parting thoughts from @Matt_Hougan:
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
Take note that @vertex_protocol just listed perps for $BERA- the flagship token of newly launched Berachain!
Vertex also recently deployed to Berachain itself, via @brotrade_DEX - which is utilizing Vertex’s revolutionary omnichain liquidity infra @EdgeLayer!
They also recently deployed on Sei and Base and Abstract and Botanix and Sonic, as they continue their quest towards being on 25 chains by the end of 2025!
Learn more in the tweet below and follow Vertex on Twitter for more updates!
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***Note On Material: The ‘Spotlight’ and ‘Note’ sections and info on our Official Monthly Sponsor @vertex_protocol 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.