Happy Saturday friends! Quite a week we’ve had!
Let’s dive in!
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):
Gold: $2053.60
Oil (WTI): $72.68
US 10Y Treasury: 3.94%
Stocks ($SPY as proxy): +0.069%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
We at the Daily Degen believe that 2024 will be the year of the 'Airdrop Meta', and have been utilizing lots of projects that are presumed to be doing an airdrop!
Here's a running list of all the projects we've been trying out for this purpose along with referral links when applicable if you'd like to support our work! (note: as always please DYOR though!)
@phantom wallet - rumored airdrop
@rainbowdotme wallet - earn 'points' for presumed airdrop, start new wallet or migrate old MM wallets over to it - our reflink: https://rainbow.me/points?ref=SZUR3U
@MetaMask - long rumored to be doing an airdrop - do swaps and bridging using the in-app options in case they use that as main criteria for potential airdrop
@DeBankDeFi and the DeBank L2 - rumors of possible airdrop, also same folks behind @Rabby_io wallet
@Parcl - a Solana RWA project where you can long/short various real estate markets or provide liquidity - earn boosted points for (presumed) airdrop with our code: thedailydegen
@BungeeExchange - bridge to potentially qualify for LayerZero and other potential airdrops
@JumperExchange - bridge to potentially qualify for LayerZero and other potential airdrops
@Hyperliquidx - note: this is a very cool new perps dex we’re a big fan of - is an appchain model so you just deposit $USDCe directly onto it from Arbitrum, then trade and/or deposit TVL to earn points for their (presumed) airdrop... https://app.hyperliquid.xyz/join/REKTDIOMEDES
@aevoxyz - another cool appchain perps dex presumed to be doing an airdrop... https://app.aevo.xyz/r/Nervous-Grand-Schiff
@azuroprotocol - GambleFi project with (presumed) airdrop, deposit TVL such as USDT via Polygon
@JupiterExchange - Solana protocol with rumored large airdrop coming
@MeteoraAG - liquidity/yield protocol on Solana
@DriftProtocol - perps dex on Solana
@LineaBuild - ETH L2 presumed airdrop
@MantaNetwork - another L2 now ongoing airdrop
@KelpDAO - EigenLayer restaking protocol - lets you earn towards presumed EigenLayer airdrop and also earns you 'Kelp Points'
@RenzoProtocol - another EigenLayer restaking protocol - reflink: https://app.renzoprotocol.com/?ref=0x39058c94a6c6504917dd8baddbbda27c8d6a5794
@EtherFi - another EigenLayer restaking option
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Note: And here's some other projects/services/etc we are huge fans of as well!
-Revelo Intel (institutional grade defi research + great free newsletter!) https://revelointel.com?aff=242 and discount code DEGEN10
-GMX: https://gmx.io/?ref=thedailydegen
-Gains Network - https://gains.trade/referred?by=thedailydegen
-Mux Protocol - https://app.mux.network/#/ref/THEDAILYDEGEN
-HMX - https://hmx.org/arbitrum/referral?ref=THEDAILYDEGEN
-RabbitX - https://app.rabbitx.io/?ref=REKTDIOMEDES
Biggest TVL Movers + Else
Chains are all quite red today. Top 20 chains up at least 10% on the weekly include Manta (#10), Sui (#13), and PulseChain (#18).
Protocols are all quite red today as well. Top 200 protocols up at least 100% on the weekly include ETH/Polygon dex IDEX, uncategorized Algorand protocol Folks Finance, and multichain dex Native.
Here’s The Top 12 Fastest-Growing Chains By TVL On The Weekly (from @DefiLlama):
Here’s The Top 12 Fastest-Growing Protocols By TVL On The Weekly (from @DefiLlama - note: this one has a minimum TVL filter so only includes protocols with at least $1M TVl):
Here’s The Top 12 Entities By 24 Hour Revenue Generation (from @DefiLlama):
Here’s The Top 12 Dex’s By 7 Day Volume (from @DefiLlama):
Top Trending Tokens (from @dexscreener, 24 hour timeframe):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
Ethereum Fear And Greed Index
(from @EthereumFear):
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 - hence disclaimer: these are not pre-vetted by us so make sure to DYOR!)
-New ‘Restaking Aggregator’ called @StakeEase. Twitter bio states “Cross-chain Restaking Aggregator. Restake - from any chain, with any token, using ~25% less gas, in ONE CLICK.” Followed by 7 of our mutuals. h/t @Beacon_Early:
-New Fantom dex called @sonicswap_. Twitter bio states “Trade tokens at supersonic speeds with the fastest DEX on #Fantom. Made possible by #FantomSonic. Currently in development. Stay tuned!” Followed by 3 of our mutuals. h/t @Beacon_Early:
-New project called @geekocoin. Twitter bio states “🌐 Geeko Dex: Unleashing DeFi's Potential | Your gateway to multi-chain trading 🔄 | AI-driven insights 💡”. Followed by 5 of our mutuals. h/t @ApeOClock:
-New project called @PepepodsFinance. Twitter bio states “Farming volatility through arbitrage with the second on-chain yield-bearing index funds, or "pods"." Followed by 5 of our mutuals. h/t @toffee248:
-New L1 called @BanyanProtocol. Twitter bio states “The fastest layer-1 blockchain with near-instant finality, and impenetrable privacy. Powered by a first of it’s kind Tri-Chain architecture.” Followed by 6 of our mutuals. h/t @toffee248:
-New trading bot project called @Nebulabsxyz. Twitter bio states “Hybrid trading bot of tomorrow. Launching soon.” Followed by 3 of our mutuals. h/t @toffee248:
-New/newish Cronos liquid-staking project called @CreampanFi has been added to @DefiLlama. Twitter bio states “Creampan: Liquid staking solution with zero unbonding time”. Not followed by any of our mutuals.
Security Alerts
-Daily Reminder: Twitter (and other social media) is being absolutely inundated with scams and links to fake versions of popular defi protocols - please make sure to be EXTREMELY hyper-vigilant and triple-check before interacting with anything!
-@peckshield released the following security alert re: an apparent exploit of @Wise_Lending:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama ($10M+ TVL, single-exposure, no-IL only) and @stable_fish - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Important News And Analysis
(key news, twitter threads, articles, videos, etc from last 24 hours)
-Poor price action continues with much discussion yesterday of selling related to Grayscale:
-On the bullish side, BlackRock CEO Larry Fink’s comments on crypto and tokenization continue to generate massive attention:
-Good illustration of the ETH/BTC spike over the last several days, h/t @Pentosh1:
-Ticker thoughts/alfa from @wacy_time1:
-Current bond market expectations re: rate cuts, h/t @KobeissiLetter:
-Token unlock data for the coming week, h/t @Token_Unlocks:
-@NickDrakon on the rather unprecedented macro setup:
-@THORChain getting increasing attention as its volumes and market share keep growing, h/t excellent thread of stats from @runetothemoon:
-First auction of Ordinals via Sotheby’s, h/t @redphonecrypto:
-PayPal’s Stablecoin $PYUSD grew by more than 70% over the past month and its market cap is now up to $290M, h/t @daddysether and @TheBlock_:
-New episode of @0xSteadyLads discussing everything going on with the ETF’s and other major crypto topics:
-Excellent crypto discussions with thoughts on tokens/narratives/price action/etc for 2024, between @CryptMoose_ and @schizoxbt:
-Remarkably prescient thoughts from @cobie from 6 months ago about the ETF and resulting Grayscale selling generated intense discussion today, h/t @Magicp0nziToken:
-Parting wisdom c/o @OptimusBull_ via @QuotableCrypto:
Conclusion
Happy Saturday friends! And don’t forget to touch some grass this weekend!
And please RT/subscribe/etc if you found this valuable!
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***Note On Material: The ‘Spotlight’ and ‘Note’ sections and info on our Official Monthly Sponsor 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.