Happy Thursday friends! Another rate hike :) Will be interesting to see what happens next!
Let’s dive in!
Stats/alerts/etc at top and tweets/news/links/videos/etc at bottom!
[Note: As always all tweets are hyperlinked so just click on them to pull them up on Twitter!]
Market Update
Crypto (from @CryptoBubbles24):
Gold: $1,974.70
Oil (WTI): $79.44
Stocks (from:@News4Moves):
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Take heed degens… @stellaxyz_ is a leveraged strategies protocol that should be of intense interest to hardcore yield maximalists…
The team is a bunch of OG defi folks who have been focused on the leveraged yield farming space since its inception, and the architecture they have created for Stella is quite sophisticated as a result, and currently producing some very high yields and also very high profit %’s…
To quote them directly…
“At Stella, users can take leverage on supported DeFi strategies without paying any borrowing cost. Lenders can earn real yield shared from the borrowers as a lending APY, the more the borrowers get, the more the lenders earn. Users can access on-chain leveraged strategies with 0% cost to borrow that have high yield potential and capital efficiency.”
We’re helping raise awareness about everything the team at Stella is up to, so make sure to follow them on Twitter, and check out their latest thread below, which outlines some of the different types of users currently utilizing their platform, or read the blog version of it by clicking here!
Biggest TVL Movers + Else
Chains are mostly green today. Top 100 chains up at least 25% on the monthly include Solana (#11), MultiversX (#20), Starknet (#44), Sui (#54), Meter (#75), XDC (#78), and Persistence (#94).
Protocols are very green today. Top 300 protocols up at least 100% on the monthly include lending protocol Spark on ETH Mainnet (#114), dex PHUX on Pulsechain (#173), leveraged farming protocol Kieva Farm on Klaytn (#209), lending protocol MarginFi on Solana (#212), leveraged farming protocol Extra Finance on Optimism (#213), and dex PayCash on EOS (#246).
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 Chains By 7 Day Stablecoin Inflow % (from @DefiLlama):
Other Data Points
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
Ethereum Fear And Greed Index
(from @EthereumFear):
Fee Generation (from cryptofees(dot)info):
New Protocols
(note: this includes new defi protocols 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 launchpad called @TheKarmaPad. Twitter bio states “A launchpad for the people. A better way forward for DeFi.” h/t @DeFi_Made_Here:
-New perps protocol called @parifinance. Twitter bio states “A decentralised perpetual protocol designed to bring parity to all market participants.” h/t @DeFi_Made_Here - make sure to give him a follow!
Security Alerts
-@Palmswaporg update from @PeckShieldAlert:
-Alert from @Phalcon_xyz on something on BSC named $CARSON:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama ($1M+ 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)
Other News And Analysis
(key news, twitter threads, articles, videos, etc from last 24 hours)
-The Federal Reserve hiked by 25 bps yesterday, bringing interest rates to their highest level since 2001:
-Commentary on above:
-NFT bear market continues:
-Thoughts on recent narratives of note, from @thedefivillain:
-Interesting chart of Arbitrum vs Optimism transactions, c/o @Dynamo_Patrick:
-Latest @truflation data from US and UK:
-High interest rates continue to generate bullish sentiments re: @MakerDAO, h/t @OuroborosCap8:
-@owocki on EIP 6968:
-Great thread from @TaikiMaeda2, referencing @DegenSpartan’s famous prediction from August 2020 that we were entering a three year ‘defi bear market’:
-@udiWertheimer on stablecoins:
-Excellent thread from @NickDrakon on lending protocol Radiant, which continues to generate lots of discussion:
-Observation c/o @MacnBTC:
-New @leviathan_news livestream featuring @CurveCap, @traders_insight, and @DAdvisoor going over the top stories in crypto/defi:
-Good new @Blockworks_ interview with well-respected macro figure Julian Brigden @JulianMI2:
-New @blockbytes video featuring @phtevenstrong ‘The Calculator Guy’ and @charlie_defi:
-New interview from @theempirepod with @QwQiao:
-Parting wisdom c/o @DegenPing:
Conclusion
Happy Thursday degens!
And please RT/subscribe/etc if you found this valuable! :)
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***Note On Material: The ‘Spotlight’ section is the only part of The Daily Degen that is 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.