Happy Saturday friends! Last weekend before the ETF news :)
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 @CryptoBubbles24):
Gold: $2047.30
Oil (WTI): $73.81
US 10Y Treasury: 4.051%
Stocks ($SPY as proxy): +0.14%
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!)
@BungeeExchange - bridge to potentially qualify for LayerZero and other potential airdrops
@JumperExchange - bridge to potentially qualify for LayerZero and other potential airdrops
@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
@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 appchain perps dex presumed to be doing an airdrop... https://app.aevo.xyz/r/Nervous-Grand-Schiff
@JupiterExchange - Solana protocol with rumored large airdrop coming
@MeteoraAG - liquidity/yield protocol on Solana
@DriftProtocol - perps dex on Solana
@phantom wallet - rumored airdrop
@rainbowdotme wallet - earn 'points' for presumed airdrop
@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
@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
@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 red today. Only top 25 chains green on the daily are Manta (#11), Sui (#15), and zkSync Era (#20).
Protocols are mostly red today as well. Protocols with at least $5M TVL up at least 100% on the weekly include Zkfair dex Sideswap, Osmosis liquid-staking protocol MilkyWayZone, ICP dex Sonic, and ICP dex ICPSwap.
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 Revenue 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!)
-Something new called @BL2_official. Twitter bio states “A sustainable #BTC L2 platform established on #Bitcoin security consensus, building a better home for innovations like #Inscription, #BRC20, etc.” h/t @CryptoNikyous:
-Something new called @BRCapp. Twitter bio states “The App for BRC & Bitcoin Ecosystem $BRCT .btc domains, launchpad, commerce, gaming, insights & trading.” h/t @CryptoNikyous:
-New project called @dragonswap_dex. Twitter bio states “Native DEX on @SeiNetwork - Where Legends Trade The highest-performant parallelized EVM DEX on Sei v2”. h/t @Beacon_Early:
-New project called @KellerFinance. Twitter bio states “ve(3.3) AMM coming soon to #NeonEVM”. h/t @Beacon_Early:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama ($1M+ TVL, single-exposure, and 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)
-Market eagerly awaiting ETF announcement next Monday, Tuesday, or Wednesday (Wednesday is the actual absolute cutoff day when the SEC has to render a decision as they have already delayed it as many times as they can):
-@MantaNetwork announced the first part of its much-anticipated airdrop (reminder: please be extremely careful checking links to check it as the entire comment section on their thread is full of links to fake scam/drainer/etc sites as are many of the Twitter ads):
-Thoughts on the Bitcoin ETF impact from @TraderMercury:
-Some good ecosystems alpha/summaries from @TheDeFinvestor:
-More good narrative/ticker alfa from @thedefivillain:
-Reminder of how wild valuations got last cycle, from @JackNiewold:
-Latest inflation numbers for the US and UK from @truflation:
-Very interesting chart from @nik_algo:
-Good new Twitter account to follow called @CoinbaseAppRank that monitors the Coinbase app store ranking as bull/bear market sentiment indicator, h/t @twindoges:
-Liquid-restaking narrative continues to heat up, good list of protocols to check out in it from @lmeowdaily:
-Wise thoughts from @CryptoKaduna:
-New episode of @0xSteadyLads podcast:
-Cosmos ecosystem updates from @Cryptocito:
-New video from @santiagoroel and @JasonYanowitz on everything going on right now in crypto:
-Parting wisdom from @WClementeIII:
Conclusion
Have a great 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.