The Daily Degen- January 9th, 2024

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

Jan 09, 2024

Happy Tuesday good degens! The excitement continues!

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: $2042.30

Oil (WTI): $72.16

US 10Y Treasury: 4.044%

Stocks ($SPY as proxy): +1.43%

Biggest Price Movers

(From @coingecko top 1000, by 24 hour change - note: for some reason these don’t seem to be loading properly on @coingecko today, but including anyway just to be thorough)

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!)

@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

@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 - reflink: https://app.renzoprotocol.com/?ref=0x39058c94a6c6504917dd8baddbbda27c8d6a5794

@EtherFi - another EigenLayer restaking option

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 very green today. Only top 50 chains down more than 20% on the weekly are MultiversX (#18), Algorand (#35), and Klaytn (#37).

Protocols are also very green today. Only top 100 protocols down at least 20% on the weekly are Radiant (#49), Hatom Protocol (#64), and GLIF (#82).

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 TVL filter so only includes protocols with at least $1M TVL):

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 called @SatoshiVM. Twitter bio states “A contributor based Bitcoin ZK Rollup Layer 2 solution with native BTC gas Testnet for $SAVM is live...”

-Something new called @trestleprotocol. Twitter bio states “Connecting projects and users of Ethereum to the Celestia ecosystem. One trestle at a time.” h/t @twindoges:

-Something new called @OXFUNHQ. Twitter bio states “trading crypto derivatives is about to get… FUN AF 🐂 max liquidity | 200% yield | 69% on referrals | coming s👀n”. h/t @twindoges:

-New project called @SunodoProject. Twitter bio states “Sunodo is building Cartesi Rollups as a Service and open-source tools for creating, developing, testing, deploying and monitoring Cartesi DApps.” h/t @twindoges:

-Something new called @sax_trade. Twitter bio states “Speculate on culture and trends | Launching soon, prepare to get #saxxed.” h/t @toffee248:

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 EVERYTHING before interacting with any site on-chain!

Top Stablecoin Yields

(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $1M+ TVL) 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)

-Potential ETF approvals this week generating more and more attention:

-$STX and the rest of the “Bitcoin defi’ narrative continue to outperform, h/t @CryptoKoryo:

-Some narrative + ticker flagging from @prithvir12:

-Yemen/containership issue continuing to generate lots of discussion in macro circles, h/t @LynAldenContact:

-If all gets approved, we will soon have Bitcoin ETF tickers that include ‘HODL’, ‘BRRR’, and (interestingly) ‘DEFI’, h/t @0xSalazar:

-@WarrenPies + @FedGuy12 with important macro take:

-Aforementioned @FedGuy12 Joseph Wang was just interviewed by @JackFarley96 on @Blockworks_ as well, posting Jack’s summary of the conversation below but you can watch the whole interview by clicking on the tweet:

-Good long-form guide from @Beacon_Early on using some of the top restaking protocols to qualify for the presumed EigenLayer airdrop + potential airdrops of the restaking protocols themselves:

-Good thread on DePIN narrative from @hmalvia9:

-New Starknet airdrops guide from @coinbeatsxyz:

-Good thread on Celestia from @smyyguy:

-New ‘Farms Of The Week’ video from @TaikiMaeda2:

-Macro discussion on oil between Adam Taggart @menlobear and @DoombergT_ from several days ago that is generating much debate in the macro world:

-New Cosmos airdrop guide video from @ThorHartvigsen:

-Parting thoughts c/o @santiagoroel:

Conclusion

Happy Tuesday friends! Probably another crazy day so stay alert out there!

And please RT/subscribe/etc if you found this valuable!

***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.