Happy Wednesday friends! Prices still down but lots of interesting 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: $2.96T
Gold: $2929.00
Oil (WTI): $68.55
US 10Y Treasury: 4.279%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Sonic season keeps heating up and @vertex_protocol is right in the middle of it!
Indeed, they just announced 1.75M in Sonic/$S token rewards!
“Trade on Vertex. Unlock weekly rewards…
A total of 1.75M $S tokens are up for grabs over the next 5 weeks, with 350K $S tokens distributed based on your taker volume each week…
$S tokens will be rewarded up to a 100% of taker fees paid…
For example, pay $50 in fees and you could earn up to $50 in $S—volume permitting. If volume exceeds the pool, rewards scale proportionally…
As you trade, you’ll also farm Sonic Points and Gems alongside $S tokens as part of Season 1 ecosystem rewards…
Rewards can be claimed seamlessly on the Rewards Page…”
Learn more in the tweet below and make sure to follow Vertex on Twitter for more updates!
Biggest TVL Movers + Else
Chains are mixed today. Fastest-growing chains on the weekly with at least $1M TVL are Mint, Morph, Sonic, Story, and Acala.
Protocols are also mixed today. Fastest-growing protocols on the weekly with at least $1M TVL are Solana lending protocol Rain(dot)fi, Sei lending protocol Takara Lend, uncategorized Arbitrum/Berachain protocol Smilee Finance, uncategorized Sonic protocol Vicuna Finance, and Sora yield protocol Ceres Demeter.
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 Token-Holders’ Revenue (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 protocol called @aqua_bera has been added to @DefiLlama, categorized as a ‘Liquidity Manager’ on Berachain. Twitter bio states “Automate and optimize participation in Berachain's Proof-of-Liquidity”. Followed by 9 of our mutuals.
-New protocol called @HandofGodSonic has been added to @DefiLlama, categorized as a ‘Farm’ on Sonic. Twitter bio states “Seigniorage Reimagined ⚡️AI Driven, Forged on Sonic. Emissions optimized every 6 hours. No mercy, no emotion—only equilibrium”. Followed by 21 of our mutuals.
-New project called @WasabeeFi has been added to @DefiLlama, categorized as a dex on Berachain. Twitter bio states “𝘚𝘦𝘢𝘮𝘭𝘦𝘴𝘴𝘭𝘺 𝘰𝘯𝘣𝘰𝘢𝘳𝘥 𝘮𝘦𝘮𝘦 𝘵𝘳𝘢𝘥𝘦𝘳 𝘵𝘰 @berachain 🐻⛓️ 🐝 Wasabee Genesis NFT Mint on 4:20pm UTC Feb.26 through Kingdomly⬇️” Followed by 3 of our mutuals.
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $25M+ TVL only) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Important News And Analysis
-Prices still down today after recent drop, h/t @Tyler_Did_It:
-More headlines from @layerggofficial:
-@AyaMiyagotchi will be moving on from being Executive Director of the Ethereum Foundation and become President of it instead, with many expressing hope that Danny Ryan or a similar figure can re-energize the chain by moving into the Executive Director position, h/t @VitalikButerin:
-Stablecoin adoption making all sorts of headlines, h/t @Matt_Hougan:
-Bitcoin still on bottom half of the rainbow chart, h/t @DaanCrypto:
-Kaito and Berachain apparently have the highest mindshare at ETHDenver - this and other observations from @0xNairolf:
-Has the PumpFun era ended? h/t @Flowslikeosmo:
-2nd round of voting is live on Kaito, h/t @sandraaleow:
-MicroStrategy currently 4th biggest holder of $BTC:
-Excitement around ‘Sonic Season’ continues, h/t @TylerDurden:
-Fluid continues to generate lots of attention, recently hitting 18% of all dex volume on Ethereum - from excellent thread of important recent defi developments from @DeFiIgnas:
-New episode of TAO Talk featuring Bittensor expert Mog, from @Blocmatesdotcom:
-New video on quantum computing and Bitcoin from @PrestonPysh:
-Parting wisdom from @DeFiMinty:
Conclusion
Happy Wednesday friends! Stay alert out there!
And please RT/subscribe/etc if you found this valuable!
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Note
If you are at ETHDenver this week make sure to keep an eye out for the Maple Finance team friends!
Numerous members of the Maple crew will be there including @syrupsid, @joe_defi, and @talkintokens!
Once again @maplefinance and their defi-facing instance @syrupfi recently hit over $600M in TVL, $5.5B in loans originated, and over 300k in monthly recurring revenue, and are one of the biggest current success stories within the nascent defi renaissance we are witnessing!
Make sure to follow @maplefinance and @syrupfi on Twitter and stay tuned as we keep bringing updates about everything they are doing!
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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.