The Daily Degen - January 11th, 2023

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

Happy Wednesday friends! 2023 is starting to really get going!

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 $17458.37 (0.01% 1h) 2: Ethereum price is $1335.84 (0.07% 1h) 3: Tether price is $1.00 (0.00% 1h) 4: BNB price is $278.16 (0.18% 1h) 5: USD Coin price is $1.00 (0.01% 1h) 9: Dogecoin price is $0.08 (0.18% 1h)

СryptoBubblesDaily @cryptobubbles24

The global #crypto market cap today is $0.89T, a 0.89% change in the last 24h. Total trading volume in the last 24h is at $48.9B. #BTC dominance is at 37.61% and #ETH - 18.00%. 11.01.2023 5:24:54 (UTC) #DeFi #NFT #BSC #Tether #AVAX #XRP #TRX #Solana

Gold: $1,885.50

Oil (WTI): $75.13

Stocks:

woodstock.club | SNS型投資アプリ @woodstockclub

🇺🇸Market Recap(変動率)🇺🇸 🈯ETF $VOO (S&P 500): +0.713% 📈 $DIA (Dow Jones): +0.579% 📈 $QQQ (Nasdaq 100): +0.846% 📈 💲GAFAM終値 $GOOGL: +0.454% 📈 $AMZN: +2.873% 📈 $META: +2.719% 📈 $AAPL: +0.446% 📈 $MSFT: +0.762% 📈 🔐暗号資産 $BTC: +1.601% 📈 $ETH: +1.521% 📈

Biggest Price Movers

(From @coingecko top 1000)

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Note

Our official sponsor for the month of January is @NestedFi- a new Social Trading protocol- which lets users create portfolios (and copy-trade other portfolios) on all the main EVM chains.

@NestedFi will be doing an airdrop for early users, so consider trying it out and creating a portfolio yourself and copying some other portfolios you like!

They also have some profoundly gigabrain tech going on behind the scenes, such as the HyVM stuff outlined in this thread:

Nested 🧩 @NestedFi

EVM development is a difficult balance between simplicity and flexibility. Proxies are complex, and new deployments are risky. They impose a heavy mental load. Let’s explore how github.com/oguimbal/HyVM, might solve this for you. It was a perfect match for our use cases.

github.comGitHub - oguimbal/HyVM: Run arbitrary code on the EVM, by nested.fiRun arbitrary code on the EVM, by nested.fi. Contribute to oguimbal/HyVM development by creating an account on GitHub.

Biggest TVL Movers

Chains are very green today. BSC has retaken the #2 spot from Tron now and Polygon has retaken the #4 spot from Arbitrum. EOS (#20) is up 20.47% on the weekly, Canto (#23) is up 52.11% on the weekly, and Cardano (#29) is up 29.47% on the weekly.

Protocols are very green today as well. The only top 100 protocols red on all three timelines are GMX (#21), Hop Protocol (#84), and Ref Finance (#97).

Here’s The Top 12 Fastest-Growing Chains By TVL On The Weekly (from @DefiLlama - note: there is no TVL filter on this one so some of these are quite small):

Here’s The Top 12 Fastest-Growing Protocols By TVL On The Weekly (from @DefiLlama - minimum $1M TVL):

Other Data Points

Bitcoin Fear/Greed Index:

(from @BitcoinFear)

Bitcoin Fear and Greed Index @BitcoinFear

Bitcoin Fear and Greed Index is 26 — Fear Current price: $17,437

Ethereum Fear And Greed Index

(from @EthereumFear):

Ethereum Fear and Greed Index @EthereumFear

Ethereum Fear and Greed Index is 50 - Neutral Current price: $1,337 opensea.io/assets/0x7fa81… etherscan.io/token/0x7fa813…

Crypto Volatility Index

(from @CVIdaily)

CVI Daily @CVIdaily

The Crypto Volatility Index is at 54.62 📊 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!)

-Something new/newish on Arbitrum called @tryMetaFab. Twitter bio states “The most powerful end-to-end solution for games and gamified apps to integrate blockchain infrastructure in minutes, not months. No lock-in & free.”

MetaFab @tryMetaFab

What is MetaFab? Why is it useful when building blockchain enabled games? We've written a high level overview. Let's dive in, a thread 👇🧵

-Something called @Rarimo_protocol. Twitter bio states “A base protocol for the next, multi-chain interoperability… Building multi-chain dApps? Sign up for the Rarimo Testnet”. h/t @AresLabs_xyz:

Rarimo @Rarimo_protocol

🔹We are launching the Rarimo Testnet next month! This will provide developers with a fast and easy way to build the multi-chain dApps that mark the future of web3✨ Here are 4 of the features that make Rarimo such a powerful protocol to work with 🧵👇

-New protocol on Arbitrum called @_SugarSwap. Twitter bio states “Decentralized exchange built on #Arbitrum Trade. Earn. Win. #ETH”. h/t @ApeOClock:

🦧 Ape O'Clock 🦧 @ApeOClock

🟢 STARTING SOON ± 30 MINS 🟢 Sugar Finance Launch 🐦 @_SugarSwap Starts: 2023-01-10 12:40 UTC Chain: #Arbitrum DETAILS: apeoclock.com/launch/sugar-f… Always DYOR. These projects have not been vetted.

apeoclock.comSugar Finance Launch - Ape O’ClockNew DEX/yield farm on Arbitrum.

-Something new called @hiswap_one. Twitter bio states “We're working to make the best crypto swap experience, with a super simple UX and the best prices. Powered by @0xProject and @definedfi.” h/t @AresLabs_xyz:

HiSwap.one @hiswap_one

Did you know that HiSwap has easy shareable links? Set up a swap, choose your slippage and tap the share button to copy your link. We can think of a few projects that could make their "How to Buy" instructions A LOT easier! 😉 #DeFi #Pancakeswap #Uniswap

-Something called @DesynLab apparently launching on January 15th. Twitter bio states “Operated by DeSynDAO Lab; allowing users to create & trade Portfolios/ETFs”.

DeSyn Protocol @DesynLab

Well, DeSyn Protocol #Mainnet will launch at January 15th, 2023! Mark your calendar!🗓️

-New protocol on Algorand called @deflexfi has been added to @DefiLlama. Twitter bio states “Deflex is an exchange protocol for best-in-class DeFi trading.”

DefiLlama.com @DefiLlama

Now tracking @deflexfi on @Algorand Deflex is an exchange infrastructure for DeFi trading that leverages Algorand's efficiency by combining liquidity of existing DEXs

-A new protocol called @MonolithETH_ has been added to @DeBankDefi. Twitter bio states “The @SolidlyDEX Optimizer”.

Monolith @MonolithETH_

Approach the great Monolith and it will magically bring you yield. Monolith is a yield optimizer for the Solidly Dex soon to be launched on the Ethereum network. If you are new to Solidly, it is an innovative protocol that was originally conceived by Yearn founder Andre Cronje

Top Stablecoin Yields

(note: these are the top Stablecoin Yields, sourced from @DefiLlama (minimum $5M+ TVL, single-exposure, and no-IL filters) and @stable_fish - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)

Other News And Analysis

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

-Cameron Winklevoss and Barry Silbert dominated crypto discussions again yesterday:

The Defiant @DefiantNews

The CEO of @Gemini Cameron Winklevoss has called for @BarrySilbert's termination from Digital Currency Group 🗣️ In an open letter that accuses @DCGco and its founder/CEO of accounting fraud, @cameron says “By lying, they hoped to dig themselves out of the hole they created.”

Blockworks @Blockworks_

Cameron Winklevoss pulls no punches in a savage open letter to the Board of Digital Currency Group, declaring Barry Silbert “unfit” to run the company.

blockworks.co‘Fraud’: Winklevoss Eviscerates Silbert Over DCG ‘Lies’Cameron Winklevoss of Gemini didn’t mince his words as he threw the F-bomb at Barry Silbert, whose Digital Currency Group is under fire.

Barry Silbert @BarrySilbert

I’ve been reflecting quite a bit about the past year, the state of the industry and where things go from here. Here is an update to address those reflections, other developments and some speculation about @DCGco (1/10)

dcgupdate.comHome - DCG Letter to ShareholdersDCG Shareholder Letter fromBarry Silbert, Founder & CEO Published 2:00pm EST, Tuesday January 10, 2023 Dear Shareholders, Happy New Year. I’ve been reflecting quite a bit recently about the past year, the state of the industry, and where things go from here. First, I’m incredibly proud of the ro…

Ram Ahluwalia, crypto CFA @ramahluwalia

There are still open questions despite the revelations from Cameron and Barry today. The letters both require a precise, careful read. Here are the open questions to get to clarity.

-Coinbase lays off 900 employees:

Watcher.Guru @WatcherGuru

JUST IN: Coinbase $COIN fires 950 employees.

Mippo 🟪 @MikeIppolito_

Coinbase up 12% on the layoff announcement. Investors no longer want growth at all costs. They want companies to tighten their belts.

-Voyager/Binance news:

Cointelegraph @Cointelegraph

Voyager received initial approval for the $1 billion deal to sell its assets to Binance.US while it seeks to speed up a US security review of the proposal.

cointelegraph.comVoyager and Binance.​US deal given initial nod amid national security probeBankrupt crypto lender Voyager Digital gained initial approval for its $1 billion deal with Binance.US. Meanwhile, Voyager is looking to speed up a CFIUS review of the deal which could result in it being blocked or changed to ensure it won’t impinge upon U.S. national security.

-Binance/BUSD getting a lot of attention:

Dylan LeClair 🟠 @DylanLeClair_

Binance-peg BUSD, a Binance issued peg of the Paxos BUSD stablecoin, was previously partially unbacked for periods of time, which Binance attributed to “operational delays” - Bloomberg

-Paxos addressing questions about $BUSD backing:

Paxos @PaxosGlobal

1/ BUSD on ERC20 issued by Paxos is the largest regulated stablecoin in the market. It is always backed 1:1 and offers the highest level of transparency and oversight.

Paxos @PaxosGlobal

2/ Wrapped versions are not issued by Paxos - consumers should educate themselves on how these wrapped assets are managed. See this post from Binance with info on Binance-Peg BUSD.

binance.comHow We Back Binance-Peg BUSD (and Explaining Historical Discrepancies) | Binance BlogExplaining more about Binance-Peg BUSD and rebalancing in light of recent news reports.

-@AndreasSteno on inflation in US:

AndreasStenoLarsen @AndreasSteno

7 charts showing why inflation is likely to DROP further! 1/n

-Announcement re: @OndoFinance generated a lot of discussion today:

Nathan Allman 🌊 @nathanlallman

1/ 🚨 @OndoFinance is bringing US Treasuries and institutional-grade bonds on-chain 🚨 We are making it possible for stablecoin holders to invest in US Treasuries through a daily liquid, bankruptcy-remote, tokenized fund with regulated service providers. blog.ondo.finance/announcing-tok…

blog.ondo.financeAnnouncing Tokenized US Treasuries and BondsI am delighted to announce that Ondo is bringing the risk-free rate on-chain. We have launched a tokenized fund that allows stablecoin holders to invest in bonds and US Treasuries, making traditional capital markets more accessible to investors who collectively hold more than $100 billion of non-yie…

-@Dunleavy89 on Solana:

Tom Dunleavy @dunleavy89

1/5 The Rumors of Solanas Death Have Been Greatly Exaggerated Sol has 2xed off recent lows. The bounce started w/ Vitalik's tweet + BONK YET despite the lack of fundamental drivers for the recent appreciation, SOL was vastly oversold for the fund. underpinnings of the ecosystem

-Interesting macro chart:

Jurrien Timmer @TimmerFidelity

Some perspective on the bear: Despite the 35% pandemic crash in 2020 and the 28% valuation reset in 2022, the 10-year CAGR for the stock market is still a healthy 10.5% in inflation-adjusted terms.

-@smyyguy makes the case for the flippening:

Dan Smith @smyyguy

The flippening is coming sooner than you think. Let me explain...🧵

-@phtevenstrong The Calculator Guy released a video on the new @DefiLlama dex aggregator:

-@CoinBureau released a new crypto week-in-review video:

-New video on @tapioca_dao from @Ceazor7:

-Parting wisdom from @redphonecrypto:

redphone.eth @redphonecrypto

Somewhere, right now, tomorrow's Link Marines, XRP Army or Lunatics coalesce around a promising new project. Quietly, they accumulate -- at prices so depressed that their holdings will yield life-changing gains when the sun finally emerges once again.

Conclusion

Have a great Wednesday fellow degens!

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

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