Happy Wednesday good degens!
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: $2032.80
Oil (WTI): $74.75
US 10Y Treasury: 4.103%
Stocks ($SPY as proxy): +0.54%
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
@PikeFinance - Omnichain lending platform, use to qualify for their (presumed) airdrop and other possible airdrops
@BungeeExchange - bridge to qualify for various potential airdrops
@JumperExchange - bridge to qualify for various potential airdrops
@deBridgeFinance - bridge to qualify for various potential airdrops
@Hyperliquidx - perps dex with (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
@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 mostly green today. Biggest gainer on the weekly among top 30 chains is Sui (#12) at +10.50% and biggest loser is Mantle (#25) at -14.54%.
Protocols are also mostly green today. Protocols with at least $100M TVL up at least 10% on the weekly include Curve Finance, etherfi, Renzo, EigenLayer, Pendle, and Hyperliquid.
Here’s The Top 12 Chains By TVL (from @DefiLlama):
Here’s The Top 12 Protocols By TVL (from @DefiLlama):
Here’s The Top 12 Entities By 24 Hour Fee Generation (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 project being built on Frax’s new L2 Fraxtal called @exchange_RA. Twitter bio states “RA pairs incentives with concentrated liquidity for next-level capital efficiency”. Followed by 13 of our mutuals. h/t @DeFi_Dave22:
-Something new called @Non_FungibleDAO. Twitter bio states “Developing and driving adoption of protocols that will power the future of NFT commerce. Powered by $NFT.” Followed by 44 of our mutuals. h/t @wronguser000:
-Something new called @CocaineProtocol. Twitter bio states “The future of finance. Next generation DeFi. $SNOW ❄️ @CocaineBeras 🐻❄️” Followed by 8 of our mutuals. h/t @Beacon_Early:
-Something new called @LyteFinanceSOL. Twitter bio states “A new standard of Treasury-Backed DeFi on @Solana.” Followed by 4 of our mutuals. h/t @Beacon_Early:
-Something new called @zkCandyHQ. Twitter bio states “zkCandy is an L2 Gaming Hyperchain for the next generation of #GameFi - Supercharged by @iCandyInteract and @zkSync. Testnet coming soon”. Followed by 5 of our mutuals. h/t @Beacon_Early:
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!
-Reminder to be alert to phishing scams h/t @PeckShieldAlert:
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)
-We are now in the fourth 20% correction since the FTX collapse and market bottom in November of 2022, h/t @docXBT:
-Bitcoin defi and Bitcoin L2 space continues to expand:
-Orderbook analysis from @tedtalksmacro:
-Celsius wallets getting lots of attention as poor price action continues in crypto markets:
-Additional crypto headlines c/o @0xSalazar:
-Reverse Repo Facility getting a lot of attention in macro circles:
-Global shipping issues continuing to generate much discussion as well:
-Popular Solana protocol @DriftProtocol announces points program (and thus presumed airdrop):
-Interesting fact re: Bitcoin mining from @yassineARK:
-New @CryptoHayes missive on macro liquidity, Janet Yellen, and the crypto markets:
-Interesting thread on ‘Getting a job in crypto’ and thoughts on crypto in general from @punk6529:
-New livestream with macro gigabrain @TgMacro from @RealVision:
-New discussion from @theempirepod with @kylesamani and @dberenzon on DePin and other stuff:
-New macro Q&A video from @LukeGromen:
-New airdrops/farming update from @TaikiMaeda2:
-Parting wisdom c/o @alpha_pls:
Conclusion
Happy Wednesday friends stay alert out there!
And please RT/subscribe/etc if you found this valuable!
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***Note On Material: The ‘Spotlight’ section (and ‘Note’ sections and info on our Official Monthly Sponsor if applicable) 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.