Happy Sunday and Happy Father’s Day good frogs!
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: $3.4T
QQQ (Nasdaq 100): $526.96
Gold: $3,430.49
Oil (WTI): $72.98
US 10Y Treasury: 4.407%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Once again, @QuaiNetwork continues to generate excitement as one of the most interesting new projects in all of crypto, and their stable flat coin $QI (and specifically Wrapped-$QI) is looking like it will be a key new defi primitive!
As background, Quai is an extremely cool new EVM-compatible, GPU-mineable, POW (proof-of-work) blockchain based around the idea of tokenizing computing energy…
And what is $QI? Well… as explained in this new article:
“Qi is a decentralized stable token whose value is derived from real-world energy costs. It is issued on the Quai Network blockchain without fiat pegs, collateral, or central control. Unlike fiat-backed stablecoins, Qi's value is derived from the real-world costs of energy of mining. You can obtain Qi through mining, converting Quai to Qi via the Pelagus Wallet, or by swapping for Wrapped Qi…”
Again, Wrapped-$QI is particularly interesting, and looks like it will be a key new money-lego in the world of defi!
Access the QUAI/QI Conversion Dashboard by clicking here, learn more in this thread, make sure to follow Quai on Twitter for more updates, and stay tuned as we continue shining a light on everything they are doing!
Biggest TVL Movers + Other Interesting Data
Chains are mostly red today. Best-performing chains on the weekly with at least $50M TVL are Hemi, Plume Network, and Unichain.
Protocols are mixed today. Best-performing protocols on the weekly with at least $50M TVL are Curve Finance, Yala, and Uniswap.
Here’s The Top 12 Chains By TVL (from @DefiLlama):
Here’s The Top 12 Protocols By TVL (from @DefiLlama):
Here’s The Top 10 Entities By 24 Hour Revenue 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 @trypango. Twitter bio states “Get paid to use your computer. Train computer use agents and earn rewards. Join the waitlist today. Powered by @chakra_ai.” Followed by 8 of our mutuals. h/t @AresLabs_xyz:
-Something new called @yupp_ai. Twitter bio states “Every AI for Everyone”. Followed by 19 of our mutuals. h/t @AresLabs_xyz:
-Something new called @nxt_labs. Twitter bio states “The ultimate social, fast, and reliable memecoin trading terminal and tools.” Followed by 7 of our mutuals. h/t @AresLabs_xyz:
-Something new called @shoutdotfun. Twitter bio states “the first launchpad built for the attention economy brought to you by @playguessbest powered by @fantasy_top_ & @MeteoraAG backed by @alliancedao”. Followed by 19 of our mutuals. h/t @AresLabs_xyz:
Top Yield Opportunities
(Note! This section is brought to you by our Official Sponsor @upshift_fi! We will include some of their top yield opportunities below as well some of the top ones from sorting on @DefiLlama (single-exposure, no-IL, $25M+ TVL) - note: the DefiLlama ones are just pulled from the raw data, so make sure to always DYOR!)
-25.00% APY on Injective USDT strategy - managed by MNNC Group - with additional 5x Bonus Points - via Upshift (click here)
-24.00% APY on Sylva concentrated liquidity strategy - managed by Sylva(dot)money - with additional 5x Bonus Points - via Upshift (click here)
-15.00% APY on the August Mezo tBTC strategy - managed by August Digital - with additional 5x Bonus Points - via Upshift (click here)
-11.60% APY on rsETH strategy - managed by Edge UltraYield - with additional 5x Bonus Points - via Upshift (click here)
-Varied and massive HyperEVM airdrop exposure on Hyperbeat Ultra HYPE vault - managed by Edge UltraYield - with additional 5x Bonus Points - via Upshift (click here)
-17.09% APY on USDS on Yearn h/t DefiLlama research
-10.60% APY on USDO++ on Usual h/t DefiLlama research
-10.97% APY on USDC on Stream Finance h/t DefiLlama research
-9.55% APY on USDC on Goldfinch h/t DefiLlama research
-8.13% APY on GHO on Aave V3 h/t DefiLlama research
Check out the full list of Upshift yield opportunities here or by clicking the banner below!
Important News And Analysis
-Next Fed interest rate decision coming up this Wednesday, h/t @KobeissiLetter:
-$BTC-Dominance keeps marching higher, with many wondering if the proliferation of these Saylor-inspired ‘Bitcoin Treasury Companies’ will push it even higher still, h/t @DaanCrypto:
-Further headlines about Coinbase integrating on-chain Base dex’s like Aerodrome, h/t @TheDeFinvestor:
-Bybit will be launching their first on-chain dex Byreal, h/t @WuBlockchain:
-Are the above stories part of an ongoing “Cex-on-chain” shift? h/t @ahboyash:
-Circle/$USDC now on over 10 chains, h/t @tokenterminal:
-It appears that MetaMask and Linea tokens/airdrops are looking more and more likely:
-Seeing lots of talk about Polymarket betting related to the Israel/Iran situation:
-@MitosisOrg generating continued excitement in Kaito-world, h/t @DidiTrading:
-Aave stats generating lots of positive attention as of late, h/t @tokenterminal:
-Another very long, very good note from @0xGeeGee, containing some bearish thoughts on $S/Sonic and $ADA/Cardano, as well as lots of alfa-flagging on other stuff:
-More kidnapping headlines - remember to be insanely hypervigilant out there friends! h/t @DegenerateNews:
-New @coinbureau video on “crypto going mainstream”:
-New interview with macro gigabrain and ‘Dollar Milkshake Theory’ originator Brent Johnson @SantiagoAuFund:
-Good wholesome ‘mainstream’ crypto livestream from Rob at Digital Asset News:
-“I’ve been long crypto 12+ years, and I’ve never felt such a massive disconnect between bullish news and token prices… This is exactly what the calm before a mania looks like” - parting wisdom from @redphonecrypto:
Conclusion
Happy Sunday friends and rest up for the week ahead!
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 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.