Happy Wednesday friends! And happy Federal Reserve day!
Let’s dive in!
Stats/alerts/etc at top and tweets/news/links/videos/etc at bottom as always!
Market Update
Crypto (from @cryptobubbles24):
Gold: $1,943.10
Oil (WTI): $69.16
Stocks (from @News4Moves):
Biggest Price Movers
(From @coingecko top 1000)
Spotlight
Silent Protocol @silentdao_ is an extremely interesting new project being built to further the ability of degens to navigate ze brypto world with privacy.
Rather than a standalone chain or a mixer, the idea is to create a privacy-preserving service one can actually use to interact with defi protocols privately on a variety of EVM chains.
Our esteemed editor @rektdiomedes has been helping @silentdao_ with some ambassadooring, so make sure to follow them on Twitter and check out the fascinating below thread from them as well!
Biggest TVL Movers + Else
Chains are mostly green today. Only top 30 chains green on the weekly though are Kava (#13), zkSync Era (#16), and Gnosis (#26).
Protocols are more mixed today. Top 100 protocols green on the weekly include Morpho (#25), Ondo Finance (#48), Conic Finance (#52), Pendle (#62), RealT (#71), UwU Lend (#81), MatrixDock (#82), Kava Mint (#84), SyncSwap (#87), Tranchess (#89), and Gains Network (#97).
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):
Crypto Volatility Index
(from @CVIdaily)
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!)
-Something new called @StasisNetwork. Twitter bio states “The next generation of passive income #OnPolygon. Token Raise June 9th, NFT Mint June 11th. $STS #DeFi”.
-Something new called @PluralFi. Twitter bio states “On a Mission to Build the Future of Insurance on Web3: Decentralised, Cooperative, Resilient.” h/t @DeFi_Made_Here:
-New project called @copypastapro. Twitter bio states “Follow the trades of the best investors who are at the top of their game, to take you to the top of yours.” h/t @DeFi_Made_Here - make sure to give him a follow!
-New protocol called @PoundSwap. Twitter bio states “ve(3,3) 🔄 Charting New Waters on ZKSync 🧙♂️ Pound Swap Redefines the Liquidity Book 🎩”. h/t @DegenCamp:
-New project called @Raman_Fi. Twitter bio states “Raman Finance will release all LSD-backed stablecoin liquidity.” h/t @DegenCamp:
-New protocol called @iLendorg. Twitter bio states “The First Native Money Markets Protocol on #Injective”. h/t @DegenCamp:
-New protocol on Optimism called @DexillaDAO. Twitter bio states “Dexilla: Cutting-edge Orderbook Trade Engine. 100% on-chain. Lightning-fast. Secure. Self-custody. Join the future of trading. #DEX #CryptoTrading”. h/t @DegenCamp:
-New project called @tokifinance. Twitter bio states “IBC-enabled cross-chain bridge for native token swap | Building with @datachain_en”. h/t @DegenCamp:
-New project called @twoxprotocol. Twitter bio states “Enabling DeFi with crypto collateralized stablecoin $TUD 🧡”. h/t @DegenCamp:
-New project called @qi_protocol_. Twitter bio states “Enjoy the sandwich, and your own MEV crumbs! Making Ethereum user friendly, one tx at a time”. h/t @DegenCamp:
-New protocol called @FWDX_Official. Twitter bio states “FWDX is a decentralised P2P swap platform, providing firm quotes and zero price slippage, with a majority of profits shared amongst users and token holders.” h/t @DegenCamp - make sure to give him a follow!
Security Alerts
-Long tweet about phishing/scam attack by @JacobCanfield (click for rest of tweet) with good discussion in comments re: cex-related security:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, minimum $5M+ TVL) 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)
-US CPI (inflation) came in at 4.0%:
-Latest FOMC meeting (Fed rate hike decision) is today, market appears to be pricing in 90%+ chance of pause, h/t @charliebilello:
-However, the market also appears to be paradoxically pricing in a 64% chance of the Fed hiking in July, also h/t @charliebilello:
-Uniswap announces its V4:
-Brief synopsis of the above from @phtevenstrong:
-Treasury Secretary Janet Yellen’s statements on the dollar as reserve currency today garnered a lot of attention (h/t @giacaglia for posting the video - click below tweet to watch it):
-US budget deficit exploding:
-Binance.US update c/o @coingecko c/o @cointelegraph:
-More Binance discussion:
-Interesting chart from @parsec_finance:
-Some interesting stats from UK:
-The release of the “Hinman emails” was a big topic of discussion yesterday, here’s a thread on it from @adamscochran:
-First tweet of excellent macro thread from @LynAldenContact:
-New Q&A video from macro gigabrain @LukeGromen:
-@BanklessHQ interviewed @haydenzadams about Uniswap’s V4 release:
-Parting wisdom c/o @alpha_pls and @punk6529:
Conclusion
Have a great Wednesday friends!
And please RT/subscribe/etc if you found this valuable! :)
-
Note
As always, we are huge fans of @DefiLlama and the amazing data they provide free of charge which we use everyday in this newsletter!
If you have the ability to do so, consider donating to support their incredible work!
(note: this is not sponsored or anything - just like to bang the drum for donations for them sometimes!)
-
***Note On Material: The ‘Spotlight’ section and (sometimes) ‘Note’ section 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.