Happy Thursday good degens! Let’s get after it!
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: $2.91T
Gold: $2889.60
Oil (WTI): $70.14
US 10Y Treasury: 4.287%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Take note friends! @Gasp_xyz has just released their new Singularity Pools!
As explained in their new article:
“We’re always looking for innovative ways to enhance liquidity and reward our earliest supporters, and as the clock ticks towards the next phase of the Gasp DEX, we’re kicking it up a gear.
That’s why we’re unleashing our new “Singularity Pools,” a unique and time-limited initiative designed to maximize liquidity depth and enrich swap routing paths shortly before the GASP token becomes tradable. As we’re still in our rewards phase, contributing to Singularity Pools makes you eligible for a larger portion of our next airdroplet, with the highest portion of rewards delivered to those participants who are earliest to the pool, and contribute the most, so timing is key!”
As background, Gasp is the first dex in the Eigenlayer ecosystem and boasts a host of fascinating innovations, and aims to provide “…secure, native cross-chain trading—the first step towards a consolidated asset ecosystem.”
The Singularity Pools are designed to reward early Gasp supporters, increase pre-tradability TVL, and enhance swap routing, so make sure to learn more in the new article about them here!
We are going to be helping raise awareness about everything Gasp is rolling out, so make sure to follow them on Twitter for more updates!
Biggest TVL Movers + Else
Chains are very red today. Only top 25 chains green on the monthly are Sonic (#13), and Hyperliquid (#14).
Protocols are also very red. Only top 25 protocols green on the monthly are Ethena (#4), and Royco Protocol (#14).
Here’s The Top 12 Best-Performing Chains By TVL On The Weekly With At Least $100M TVL (from @DefiLlama):
Here’s The Top 12 Best-Performing Protocols By TVL On The Weekly With At Least $100M TVL (from @DefiLlama):
Here’s The Top Entities By 24 Hour Fee 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 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 project called @8020_trade. Twitter bio states “Any token, any chain. No gas, no bridging.” Followed by 2 of our mutuals. h/t @AresLabs_xyz:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $1M+ 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 keep falling and the Fear & Greed Index is down to 10(!) - its lowest reading in 18 months, h/t @Tyler_Did_It:
-This is the 3rd-worst BTC drawdown since the bear market bottom in late 2022, h/t @docXBT:
-New coins PI, IP, and KAITO all generating lots of attention this week, h/t @layerggofficial:
-Is this a good time to start scaling into select alts? h/t @alpha_pls:
-Velodrome to launch on Swellchain, h/t @phtevenstrong:
-“SOL is 2 standard deviations oversold... this is the sweet spot..." - @RaoulGMI:
-Bullish yuan devaluation on the horizon? h/t @zerohedge:
-Interesting alts to keep an eye on, h/t @DeFiMinty:
-Lots of interesting debate taking place around the possibility of legacy banks trying to issue stablecoins and their ability to compete with crypto-native stables, h/t @malekanoms:
-Lots of high-level discussions revolving around Safe (formerly Gnosis Safe) and related security stuff in wake of Bybit hack, h/t @xdev_10 and @PatrickAlphaC:
-The macro + crypto bull case, from @LDNCryptoClub:
-New interview with popular CT gigabrain @alpha_pls from @jediblocmates at @Blocmatesdotcom:
-New @0xPrismatic interview on everything to watch in AI + crypto, from @Blocmatesdotcom:
-New @Unchained_pod interview with @tayvano_ about North Korea hacking stuff:
-New interview with Kain Warwick from @ayyyeandy:
-Will we be getting a Litecoin ETF? From the @coinbureau channel:
-Parting sentiments from @RyanWatkins_:
Conclusion
Have a good Thursday and hang in there friends!
And please RT/subscribe/etc if you found this valuable!
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Note
Do you want to play around on Sonic and earn Points & Gems towards their airdrop while effectively being paid to trade!?! Then make sure to check out what @vertex_protocol is doing good frogs!
In the spirit of the new defi season on Andre Cronje’s Sonic chain (a rebrand of Fantom!), Vertex 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 quote-tweeted by Vertex co-founder @DariusTabai and make sure to 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.