Happy Saturday friends! Weekends are for getting after it let’s go!
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 @CryptoBubbles24):
Gold: $2336.90
Oil (WTI): $81.54
US 10Y Treasury: 4.392%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Metamorphosis is happening friends, and the crew at @InitCapital_ have some very interesting things going on within the @0xMantle ecosystem!
Here is the breakdown:
- INIT will be joining Mantle’s Metamorphosis campaign, which goes live on July 1st.
- The campaign will introduce $cmETH, the new upcoming LRT, and $COOK, the governance token of Mantle LSP.
- Users with $mETH will earn Powder and position themselves for future upgrades to $cmETH, where Powder will be convertible to $COOK.
- At INIT, users can expose themselves to $mETH via the $mETH Looping Hook and gain up to 5x $mETH exposure through leverage + earn EigenLayer Points, yield, and INIT Points.
Once again, Init is an extremely gigabrained new defi protocol on Blast and Mantle we are helping raise awareness about…
To learn more about them make sure to check out this thread and follow them on Twitter for continued updates!
Biggest TVL Movers + Else
Chains are quite red today. Only top 30 chains green on the daily are Scroll (#19), Pulse Chain (#23), and Cardano (#29).
Protocols are also quite red today. Only top 60 protocols green on the daily are JustStables (#24), SubseaProtocol (#32), Ondo Finance (#42), SUN (#43), Mellow Protocol (#55), and Juice Finance (#59).
Here’s The Top 12 Chains By TVL (from @DefiLlama):
Here’s The Top 12 Protocols By TVL (from @DefiLlama):
Here’s The Top 12 Entities By 24 Hour Revenue Generation (from @DefiLlama):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
Top Trending Tokens:
(from @dexscreener - 24 hour timeframe)
Chart Of The Day
(Courtesy of our Official Sponsor @vertex_protocol)
-$AVAX saw a tremendous price surge during the general market bullishness earlier this year but has since significantly retraced… do you think its primed for another leg higher or continued chop anon? Long or short it with leverage and access 40+ other perps and spots markets as well at app.vertexprotocol.com!
New Projects
(note: this includes new projects we find through combing Twitter each day, and we also include or re-include every newly launched protocol added by @DefiLlama that has at least some TVL or is followed by at least some of our mutuals - hence disclaimer: these are not pre-vetted by us so make sure to DYOR!)
-Something new called @megaeth_labs. Twitter bio states “MegaETH is real-time Ethereum, streaming transactions at lightning speed -- sub-millisecond latency and over 100,000 transactions per second -- all while maintaining a symbiotic relationship with the Ethereum ecosystem.” Followed by 210 of our mutuals. h/t @AresLabs_xyz:
-Something new called @fractal_bitcoin. Twitter bio states “Fractal is the only Bitcoin scaling solution that uses Bitcoin Core code itself to recursively scale unlimited layers on top of #Bitcoin.” Followed by 5 of our mutuals. h/t @AresLabs_xyz:
-New project called @Flex_Fi. Twitter bio states “Experience seamless leverage trading, secure liquidity management, and rapid token integration. - Powered by Base”. Followed by 4 of our mutuals. h/t @AresLabs_xyz:
-New project called @mindshare_mkt. Twitter bio states “Trade the next big narrative! Soon (TM) on @LayerN_Official”. Followed by 4 of our mutuals. h/t @AresLabs_xyz:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $10M+ TVL) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Security Alerts
-No security alerts today.
Important News And Analysis
(key news, twitter threads, articles, videos, etc from last 24 hours)
-Supreme Court’s Chevron decision was major topic in crypto over last 24 hours, h/t @intangiblecoins for the good mini-summary below:
-Good thread on the above from @Austen:
-Regulatory news also generating attention re: $BNB, h/t @crypto_condom and @SGJohnsson below:
-Even more regulatory news, and analysis, h/t @tier10k and @crypto_condom:
-Interesting chart of Bitcoin miner capitulation, h/t @jjcmoreno:
-Polymarket continues to generate attention as crypto’s latest mainstream success story, generating over $100M in volume in June, h/t @NTmoney:
-Tron stablecoin volumes keep chugging ahead, h/t @Dynamo_Patrick:
-Memecoin narrative has dominated so far in Q2, while GameFi has suffered, h/t @hmalviya9:
-Interesting notes on recent Goldman Sachs Digital Assets Conference, h/t @tomwanhh:
-Interesting thoughts on valuations/community/etc from @defi_mochi:
-Additional headlines c/o @Cprinze_:
-New weekly roll-up video of all the top stories in crypto, from @BanklessHQ:
-New interview with tradfi gigabrain @hkuppy:
-New episode of Steady Lads podcast:
-New weekly roll-up from @santiagoroel, @JasonYanowitz, @MikeIppolito_ and co, at @theempirepod:
-Parting wisdom c/o @crypto_linn:
Conclusion
Happy Saturday friends! Don’t forget to touch some grass this weekend!
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 Monthly 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.