Happy Wednesday friends! Lots of stuff going on!
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: $3.299T
Gold: $2944.10
Oil (WTI): $72.47
US 10Y Treasury: 4.548%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Huge announcement from @maplefinance good anons!
In association with @Coredao_Org and other partners, they have created an extremely important new product called $lstBTC!
As stated in their new article explaining it:
“For years, institutional Bitcoin holders have faced a tradeoff: keeping BTC as a secure store of value or sacrificing security or liquidity to earn yield. lstBTC changes this dynamic by allowing institutions to earn yield paid in Bitcoin without transferring BTC away from trusted custodians.
With over $500 billion in Bitcoin accruing fees in custodial accounts, lstBTC unlocks significant savings. It allows institutions to generate sustainable yields on Bitcoin holdings while maintaining principal security, liquidity, and capital efficiency within industry-standard custody practices. Maple Finance brings its expertise in institutional credit markets and risk management to lstBTC by overseeing yield generation strategies that align with regulatory and risk standards. Maple helps lstBTC holders simplify earning yield without transferring BTC out of custody. By integrating lstBTC into its broader institutional infrastructure, Maple Finance helps institutions maximize capital efficiency without sacrificing security.”
Learn more in the quote-tweeted thread below or in the full article here, and 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. Top 100 chains up at least 100% on the monthly include Hyperliquid (#13), Sonic (#16), opBNB (#69), and LaChain Network (#98).
Protocols are mixed as well. Top 100 protocols up at least 100% on the monthly include Royco Protocol (#14), Stargate Finance (#29), Cygnus (#52), Dolomite (#55), Hyperliquid (#59), and SatLayer (#90).
Here’s The Top 12 Fastest-Growing Chains By TVL On The Weekly With At Least $1M TVL (from @DefiLlama):
Here’s The Top 12 Fastest-Growing Protocols By TVL On The Weekly With At Least $1M TVL (from @DefiLlama):
Here’s The Top Entities By 24 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 @multiplifi. Twitter bio states “Democratising Yield on Native, Stable and Real World Tokenised Assets. Backed by @PanteraCapital @ElevCap @Sequoia @TheSpartanGroup.” Followed by 27 of our mutuals. h/t @monosarin:
-Something new called @Experiments_io. Twitter bio states “Coming soon to #Avalanche🔺” Followed by 14 of our mutuals. h/t @monosarin:
-Something new called @unionchain_io. Twitter bio states “Union Chain bridges Crypto and Tradfi by uniting top regulated companies with top Blockchain companies to build, issue, distribute and transact on one chain.” Followed by 3 of our mutuals. h/t @monosarin:
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 much-anticipated Kaito airdrop will apparently be taking place tomorrow, Thursday, February 20th, at 12 PM UTC, h/t @OlimpioCrypto:
-More and more talk about a potential coming US ‘gold revaluation’, h/t @zerohedge:
-Curve Finance founder Michael Egorov is apparently raising for an interesting new project called ‘Yield Basis’, that aims to ‘tackle impermanent loss’, h/t @leviathan_news:
-Despite poor sentiments and poor price action for alts, stablecoin liquidity continues surging, h/t @TheDeFinvestor:
-More headlines from @layerggofficial:
-Andre Cronje’s Sonic chain a rare bright spot for TVL right now, h/t @Dynamo_Patrick:
-Another interesting observation re: $BTC price action from @DaanCrypto:
-The max extraction memecoin stuff continues to generate much attention, h/t @lookonchain:
-Takeaways from the conference in Hong Kong this week from @ayyyeandy:
-Very good article from @heartereum on what can actually be learned from the $LIBRA/Hayden Davis situation from a trading/logistical perspective with how things actually work ‘in the trenches’:
-“If you’re still liquid and mentally sane you’re beating 90% of the market” - @VirtualBacon0x:
-New @TaikiMaeda2 video discussing everything going on in crypto right now:
-New video from @Lightspeedpodhq featuring Jack Kubinec and Dan Smith discussing the state of Solana:
-New roundtable discussion from @blocmatesdotcom discussing $TAO/Bittensor and the dTAO upgrade:
-Parting wisdom from @brodydotai:
Conclusion
Happy Wednesday good degens! Stay alert out there!
And please RT/subscribe/etc if you found this valuable!
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Note
Take note friends! Arthur Hayes’ @MaelstromFund released a new article outlining the bull case for @vertex_protocol and the VRTX token!
The article goes over all the various aspects of the investment thesis, but a particularly interesting one revolves around Vertex’s unique ability to deploy perps to new chains as a result of its custom @EdgeLayer liquidity architecture:
“Based on primary research surveying new chains, every chain has a strategy or plan to launch a perps trading hub–through incubation or sourcing a team willing to build one. VRTX (currently hovering at around $27M market cap) stands out as an underpriced opportunity to bet on the strategy to connect existing and forthcoming hubs with a shared liquidity layer. Vertex’s interoperable liquidity layer allows new chains to access shared liquidity within 5ms to 15s across multiple chains, reducing the traditional barriers to launching on new networks while maintaining capital efficiency.”
The article is extremely in-depth and is full of interesting alfa both on Vertex and defi in general, so we highly encourage you to read it by clicking here!
And as always make sure 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.