Happy Wednesday friends! 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: $3.75T
Gold: $2726.27
Oil (WTI): $75.76
US 10Y Treasury: 4.597%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
More exciting stuff from the well-respected gigabrains at @KaminoFinance friends!
In order to scale the adoption of cbBTC on Solana, Kamino will be heavily rewarding users borrowing USDC against their cbBTC!
As stated in the original Growth Initiative:
“Kamino has just launched its cbBTC growth initiative. The goal of this initiative is to rapidly accelerate cbBTC adoption on the platform, while aggressively scaling USDC borrows...
Given its native SPL issuance, the trusted nature of Coinbase, and the current momentum of Solana DeFi, we believe cbBTC can rapidly scale into the largest BTC asset on Solana, and become deeply entrenched as a collateral asset on Kamino...
Kamino’s growth initiative will reward cbBTC depositors, with rewards allocated according to the amount of USDC borrowed against cbBTC. Reward amounts will scale as the total amount of USDC debt taken against cbBTC collateral increases...”
You can get all the details by clicking here, and get started earning USDC via the above by visiting their site now!
And once again, we are going to be helping amplify all the great stuff the Kamino team is shipping, so make sure to follow them on Twitter for continued updates!
Biggest TVL Movers + Else
Chains are mixed today. Only top 50 chains red on all three timelines (daily, weekly, monthly) are Polygon (#13), Blast (#22), Linea (#26), and Scroll (#42).
Protocols are also mixed today. Only top 50 protocols red on all three timelines (daily, weekly, monthly) are Curve Finance (#20), Usual (#34), Hashnote USYC (#35), and Convex Finance (#38).
Here’s The Top 12 Fastest-Growing Chains By TVL On The Weekly With At Least $100M TVL (from @DefiLlama):
Here’s The Top 12 Fastest-Growing Protocols By TVL On The Weekly With At Least $100M TVL (from @DefiLlama):
Here’s The Top Entities By 24 Hour Token-Holders’ Revenue (from @DefiLlama):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
Chart Of The Day
(Courtesy of our Official Sponsor @vertex_protocol)
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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 dex on Soneium called @SoneFi_xyz has been added to @DefiLlama. Twitter bio states “Leading Dex @soneium , offering AMM, Perp, AI Agent, and Meme Launch. #SOFIA, born from AI Agent meeting DeFi. Audited”. Followed by 5 of our mutuals.
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (single-exposure, no-IL, $20M+ TVL) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Security Alerts
-No security alerts today.
Important News And Analysis
-Morning headlines from @Tyler_Did_It:
-More headlines from @layerggofficial:
-Total altcoin market cap hovering just below 2021 high’s, h/t @DaanCrypto:
-Coinbase CEO Brian Armstrong suggests 7-figure price targets for Bitcoin:
-@_kaitoai launches ‘Yapper Launchpad’ - a pre-tge launch system, h/t @zacxbt:
-Continued debates and soul-searching within ETH-land, example via @iamDCinvestor:
-@dannyryan responds to calls for him to become head of the Ethereum Foundation:
-8 of the top 10 finance apps are currently crypto-related, h/t @JasonYanowitz:
-Ticker-flagging c/o @JiraiyaReal:
-Privacy alfa from @milianstx:
-Tokenless-project alfa c/o @0xMughal:
-Latest on everything in Solana-world from @Lightspeedpodhq:
-New macro interview with @donnelleybrent from @fejau_inc at @Blockworks_:
-New episode of TAO Talk from @blocmatesdotcom:
-New on-chain signals tutorial from @Dynamo_Patrick:
-Important reminder from @apewoodx:
Conclusion
Have a great Wednesday and stay alert out there friends!
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 @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.