Happy Tuesday friends! Nice to see some greenery on the board again!
Let’s get after it!
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: $3.38T
QQQ (Nasdaq 100): $537.91
Gold: $3,301.59
Oil (WTI): $65.37
US 10Y Treasury: 4.304%
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 $QI is catalyzing much buzz as a new on-chain medium of exchange with significant benefits in the realm of privacy! (And in addition wrapped-$QI is looking like it will be a key new defi primitive!)
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…”
Learn more in the tweets below, 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 quite green today. Best-performing chains on the weekly with at least $100M TVL are Plume Mainnet, Vaulta, and Soneium.
Protocols are quite green today as well. Best-performing protocols on the weekly with at least $100M TVL are Nucleus, Katana pre-launch, PulseX, Vaulta REX, and b14g.
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 Fee Generation (from @DefiLlama):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
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)
-15.00% 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)
-14.06% APY on USDS on Yearn h/t DefiLlama research
-11.35% APY on USDC on Stream Finance h/t DefiLlama research
-10.07% APY on XUSDC on Multipli(dot)fi h/t DefiLlama research
-9.55% APY on USDC on Goldfinch h/t DefiLlama research
-8.73% 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!
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 @Keyring_Network. Twitter bio states “Building Trust”. Followed by 11 of our mutuals. h/t @flipdazed and @leviathan_news:
-Something new called @crosbylegal. Twitter bio states “The AI Law Firm Built for Execution. Lawyer-assisted AI to review MSAs, DPAs and NDAs in under an hour.” Followed by 6 of our mutuals. h/t @0xdetweiler:
-New project called @blend_money. Twitter bio states “We’re rethinking how you interact with DeFi - from deposit to yield, across any chain.” Followed by 4 of our mutuals. h/t @AresLabs_xyz:
Important News And Analysis
-Odds of July interest rate cut are rising, h/t @Tyler_Did_It:
-@MagicNewton airdrop is now live - good details below from @FourVork:
-Polymarket raise generating headlines this morning, h/t @DegenerateNews:
-Director of Federal Housing Bill Pulte has been reaming Jerome Powell on Twitter/X all day, suggesting the push for Powell’s ouster within the Trump administration may still be an important variable to watch:
-Coinbase Premium rising, h/t @crypto_condom:
-Alts continue to suffer, apart from a few select outperformers, h/t @cointradernik:
-More interesting airdrop thoughts from @FourVork:
-Encouraging macro thoughts + chart, from @BittelJulien:
-Another massive post of airdrop alfa, from @flb_xyz:
-Check-in on Facebook from @goodalexander (note: this phenomenon of older folks being literally unable to distinguish what is AI and what isn’t does legitimately look like a significant issue to watch):
-“What I would do if I was restarting in crypto from zero” - interesting thoughts from @TheDeFinvestor:
-Livestream of Jerome Powell testimony today:
-New @coinbureau video on Circle:
-Massive three hours livestream from @ayyyeandy and co at @therollupco yesterday featuring a ton of defi-focused interviews:
-New roundtable discussion from @MikeIppolito_ and co on @thebellcurvepod:
-New interview with macro gigabrain Doomberg (note: this was recorded a couple days ago but is still quite good):
-New crypto-adjacent discussion from the a16z founders:
-New roundtable from @Unchained_pod:
-Parting (bullish) outlook ahead from @theunipcs:
Conclusion
Have a great Tuesday friends and stay alert out there!
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.