Happy Friday lads and ladettes! Things are starting to get exciting!
Let’s dive in!
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: $3.73T
QQQ (Nasdaq 100): $554.91
Gold: $3,353.64
Oil (WTI): $68.42
US 10Y Treasury: 4.415%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Attention yield-enjoyers! @upshift_fi has some exciting defi money lego opportunities to take note of!
One of the foremost among these is the news that you can now borrow against your upUSDC on @MorphoLabs!
As explained below, upUSDC is the liquid receipt token for the Upshift USDC vault, where you can earn yield on your USDC via lending to institutional borrowers!
“How does this help me earn more yield?
→ Deposit to the Upshift USDC vault to earn 7.6% APY and receive upUSDC
→ Borrow USDC against upUSDC and re-deposit into the Upshift USDC vault for additional yield.
→ upUSDc deposits on Morpho will also earn 5x upshift points…”
Upshift now has composable lego-maxxed defi yield integrations with both Pendle and Morpho, but there are rumors more could be on the horizon, so stay tuned for additional details! :)
And make sure to follow Upshift on Twitter as well, and see Upshift co-founder @AElkrief’s tweet about the Morpho integration below!
Biggest TVL Movers + Other Interesting Data
Frog seems to have screwed the chains data up on DefiLlama so we will not be including any notes on it today!
Protocols are extremely green today though! Best-performing protocols on the weekly with at least $50M TVL are Tron CDP USDD, Supra staking pool Supra Staking, PulseChain’s PulseX, multichain EVM yield aggregator YieldFi, and uncategorized Berachain project Kodiak.
Here’s The Top 12 Protocols By TVL (from @DefiLlama):
Here’s The Top 10 Entities By 24 Hour Fee Generation (from @DefiLlama):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
New Projects
(note: this includes new projects we find through combing Twitter each day and going through newly launched protocols added by @DefiLlama, limited primarily to new projects that have at least some TVL or are followed by at least some of our mutuals… Disclaimer: these are not pre-vetted by us so make sure to DYOR!)
-Something new called @getnebulae. Twitter bio states “The mobile app to trade onchain | Copy Insiders, Top Traders, Close Friends | Hyper-live, hyper-fun, and hyper-performant.” Followed by 19 of our mutuals. h/t @AresLabs_xyz:
-Something new called @kenseionkatana. Twitter bio states “Sharpened. Fearless. Degenerate. Coming soon on @katana”. Followed by 9 of our mutuals. h/t @AresLabs_xyz:
-Something new called @FluxePay. Twitter bio states “Fluxe is a compliant, universal privacy protocol for stablecoin payments enabling users to transact stablecoins across multiple chains. Built on @twinexyz”. Followed by 9 of our mutuals. h/t @AresLabs_xyz:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (single-exposure, no-IL, $25M+ TVL only) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Important News And Analysis
-Bitcoin is surging through price discovery and price action has been positively euphoric the last 24 hours, h/t @Tyler_Did_It:
-The upcoming PumpFun ICO this weekend is still dominating attention, as everyone tries to decide whether to participate and whether they are bullish or bearish, good example from @Bitcoineo below:
-GMX exploit funds have been returned:
-Ethereum, Tron, Base, Hyperliquid, Aptos, Sui, and Mantle are all at all-time high’s in stablecoin mc, h/t @DynamoDefi:
-Coinbase is acquiring derivatives protocol Opyn and bringing on its leadership team, h/t @WuBlockchain:
-ETH/SOL has now flipped positive for the year, h/t @defi_monk:
-Interesting list of top alts today by trading volume vs market cap, h/t @_dexuai:
-Housing inflation has turned negative as the Trump admin continues to urge Powell to cut rates (and to resign), with the next FOMC Meeting (Fed interest rate decision) coming on July 29th, h/t @truflation:
-In-depth thread on the intricacies of the Sonic ecosystem right now and an interesting bull case investment thesis on PaintSwap/$BRUSH, from @CoinSurveyor:
-Is an AI productivity boom leading to malaise in labor and ebullience in capital? And is crypto a generational arbitrage trade and an offramp for young people from the failing established system? Good thoughts from @Tyler_Neville_:
-Great macro/crypto thread from @kellangrenier on the overall debasement zeitgeist we have entered, and why US government policy is going to pump US stonks, US housing, and crypto skyward (click to read in full):
-Excellent new crypto/macro interview with Jordi Visser @jvisserlabs from Wealthion:
-New roll-up livestream from @BanklessHQ:
-New crypto/macro livestream from @noahseidman (aired one hour ago):
-New Q&A with macro gigabrain @LukeGromen:
-New @theempirepod discussion between @santiagoroel and @HadickM on the PumpFun ICO and other topics:
-New @notthreadguy livestream with @0xBreadGuy from yesterday:
-New interview with macro commentator and Bitcoin evangelist @LynAldenContact:
-New episode of @thebellcurvepod featuring @MikeIppolito_:
-“Our brains are hardwired for a world that no longer exists…” - parting wisdom on how to adapt to the AI world via a great thread from @redphonecrypto (click to read in full):
Conclusion
Have a great Friday and enjoy the positive price action friends!
And please RT/subscribe/etc if you found this valuable!
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Note
The launch from @Mantle_Official of @URNeobank is generating massive attention!
As stated in the thread below:
“UR is a borderless smart money app that makes it easy to spend and off-ramp, all in one place. Powered by Mantle Network, UR aims to change the way you interact with your fiat and crypto, all under one unified account…”
In addition to the above, Mantle also recently rolled out:
-Their @MantleX_AI initiative- an “AI research & incubation arm pioneering the future of decentralized systems…. Advancing thought leadership at the frontier of AI x blockchain...”
-Their new Lightning Grants program- “What are Lightning Grants? Lightning Grants are the quickest path for early builders to get funded. No more lengthy waits and complex application processes. Just a streamlined process that prioritizes momentum for builders on @Mantle_Official...”
-And bunch of new integrations with the HyperEVM ecosystem!
All of the above is just a small fraction of everything Mantle is shipping though… so make sure to follow them on Twitter and stay tuned as we keep banging the drum about everything they are doing!
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***Note On Material: The ‘Spotlight’ and ‘Note’ sections and info on our Official 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