Happy Monday friends! Big week ahead of us!
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: $3.39T
QQQ (Nasdaq 100): $521.48
Gold: $3,374.40
Oil (WTI): $63.11
US 10Y Treasury: 4.464%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Lots of bullish news from our Official Sponsor @upshift_fi!
-Their Hyperbeat Ultra HYPE Vault (one of the best possible ways to get exposure to the HyperEVM ecosystem right now!) has surpassed $40M TVL…
-They recently surged past $300M in TVL overall…
-They are consistently providing 30% APY on USDC via their Sylva Concentrated Liquidity Vault…
-They continue to build alongside TreeHouse and Pendle and Injective and numerous other great teams…
-And they are generating all sorts of excitement among some of the most well-sophisticated and respected defi’ers in crypto!
Visit the Upshift site to get started (see screenshot of vaults page below!), and make sure to follow them on Twitter for more updates!
Biggest TVL Movers + Other Interesting Data
Chains are mixed today. Only top 50 chains green on all three timelines (daily, weekly, monthly) are Unichain (#15), TON (#33), and Flare (#35).
Protocols are also mixed today. Only 12 of the top 50 protocols are green on the weekly.
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)
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 @solanaappkit. Twitter bio states “build mobile apps on solana in ~15 mins with 18+ protocol integrations | @thesendcoincom ecosystem”. Followed by 11 of our mutuals. h/t @AresLabs_xyz and @SolanaFloor:
-Something new called @iownco. Twitter bio states “First fully decentralised protocol for synthetic stocks.” Followed by 3 of our mutuals. h/t @AresLabs_xyz:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $25M+ TVL only) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Important News And Analysis
-Much focus on $BTC price, which has fallen back below ATH levels, but so far stayed above 100k, h/t @DaanCrypto:
-ISM data came in low today, but some think it is bottoming:
-$LOUD/@stayloudio continues to generate attention and analysis one day after its much-followed launch, good data below from @Jonasoeth:
-Continued debate about Bitcoin Treasury Companies and what they mean for the market, h/t @dgt10011:
-$ENA unlocks and FTX repayments are generating attention this week, h/t good monthly schedule from @layerggofficial (click to read it in full):
-Fascinating crypto and macro adjacent story out of Iraq re: Visa and Mastercard and mass currency arbitrage, h/t @NickTimiraos:
-Interesting new upgrade from Aave utilizing risk tranches is generating discussion, h/t @0xngmi and @lemiscate:
-Good recap of main May airdrops from @0xJohannes_:
-Circle IPO still in process of coming to fruition:
-If rates are not lowered, there will soon be more mortgages over 6% than there are below 3%, as the high interest rate environment finally starts to catch up with the housing market, h/t @KobeissiLetter:
-“Over the next 15 years, I believe household net worth as a % of annual Income will decline below 600% (currently ~800%) and U.S. white collar wage premium to the rest of the world will fall by at least 50%” - from absolutely fantastic macro article from @TraderNoah on US equity values’ perpetual march upward, geo-arbitrage, the Boomers, AI, and more:
-New video from @DaanCrypto of TA and overall market analysis:
-New livestream of crypto news from the @coinbureau channel (aired an hour ago):
-A debate on valuing L1’s and the REV vs RSOV debate from @theempirepod featuring @JasonYanowitz talking to @_Jonahw and @smyyguy:
-Parting wisdom from @0xMughal:
Conclusion
Happy Monday good degens! Stay alert out there!
And please RT/subscribe/etc if you found this valuable!
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Note
The team at @maplefinance had an absolutely GARGANTUAN month of May…
From their platform rebrand to their new partnership with Cantor to hugely positive attention on the TL and more, it was a veritable landslide of sweet syrupy defi anabolism!
In addition, TVL has surged to just around the $2B mark, up massively from the beginning of the year!
This is just the beginning though, and Maple has huge things in store for the rest of this year and beyond!
Make sure to follow Maple on Twitter for more updates, and check out co-founder @SyrupSid’s recent interview with @ThinkingCrypto1 below!
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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.