Happy Wednesday friends! Lots of stuff going on!
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: $3.44T
QQQ (Nasdaq 100): $527.81
Gold: $3,369.80
Oil (WTI): $62.73
US 10Y Treasury: 4.357%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
The bullish news keeps stacking up from our Official Sponsor @upshift_fi!
But what is the relationship between Upshift and its parent organization @august_digital?
Basically, August is an ecosystem focused on bringing democratized and permissionless access to institutional defi, while Upshift is its first product…
As detailed by co-founder @AElkrief in the article below:
“At its core, August is infrastructure for combining TradFi capital efficiency with DeFi composability and transparency. The vision is to build an ecosystem of apps on top of this infrastructure…
Step one, Upshift…
…Upshift gives regular investors access to vaults curated by Institutional DeFi players. Each vault represents a yield product where vault curators open up their own strategies to regular investors. Instead of competing against institutions, DeFi users can now earn the sustainable yield from the very same strategies used by funds.”
Upshift is just the very start of what August Digital has in store… so make sure to learn more in the article below, follow Upshift on Twitter for more updates, and check out their new thread on the ‘Upshift Yield Committee’ - a new initiative that will allow yield enthusiasts to earn Upshift Points via posting analysis and education on Twitter!
Biggest TVL Movers + Other Interesting Data
Chains are mixed today. Top 50 chains up at least 10% on the weekly include Unichain (#15), TON (#32), and Stellar (#35).
Protocols are also mixed today. Top 50 protocols up at least 10% on the weekly include Ethena (#7), StakeWise (#39), and CIAN Protocol (#43).
Here’s The Top 12 Best-Performing Chains By TVL On The Weekly With At Least $1M TVL: (from @DefiLlama):
Here’s The Top 12 Best-Performing Protocols By TVL On The Weekly With At Least $1M 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 @agra_gg. Twitter bio states “Soon.” Followed by 19 of our mutuals. h/t @AresLabs_xyz and @0xtoki_:
-Something new called @ValiantTrade. Twitter bio states “Institutional trading in your browser. CEX speed. DEX freedom. Building the future of trading on @FogoChain”. Followed by 7 of our mutuals. h/t @AresLabs_xyz:
-Something new called @SoloPattyLabs. Twitter bio states “SoloPatty is A TEE-based private order book DEX with zk-proofs, preventing front running & MEV.” 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, $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
-PumpFun is planning a $1B token sale at a $4B valuation, dominating discussion in crypto today, h/t @Tyler_Did_It:
-The PumpFun raise is generating significant criticism, with many calling the platform “extractive”. Relatively mild example below c/o @milesdeutscher:
-Also lots of positive responses though, example below from @pet3rpan_:
-Also lots of focus on the Circle IPO today, and the question of how it might affect valuations of various stablecoin-related projects/tokens, h/t @crypto_condom:
-Eclipse airdrop is imminent, h/t @FourVork:
-Speculation regarding an upcoming Nansen airdrop as well, h/t @heycape_:
-Trump still publicly calling on Powell to cut rates, with next FOMC Meeting (rate cut decision) taking place two weeks from now, h/t @DegenerateNews:
-Very interesting stat from @iamDCinvestor that by 2028 only 2.7M Boomer households will be lost per year (to death or moving into assisted living) but by 2035 that will jump to 9.2M, suggesting the negative effect of Boomers liquidating their housing could end up being significant, but won’t start really ramping up until the 2030’s:
-Fascinating + wholesome story from @hosseeb regarding a white-hat saving of funds:
-Fascinating + horrifying story from the @WuBlockchain substack, via a transcribed interview with a Chinese businessman who suffered a crypto-related kidnapping and ransom experience in the Philippines:
-Good explanation of the US sovereign debt situation from @patfscott (though we would add that it would not need to be Weimar-style hyperinflation to deal with it, but even just 20-50% real inflation for 3-10 years in a row then a return to normalcy once debt:gdp levels are back down to 70% or so):
-New @Lightspeedpodhq interview with @bw_solana on Solana’s Alpenglow upgrade:
-New Laura Shin interview with Bitwise’s Jeff Park @dgt10011:
-New appearance on CNBC from macro gigabrain @WarrenPies (short but good):
-New crypto/macro livestream from @noahseidman (aired yesterday):
-New interview with @mdudas from @therollupco:
-Parting illustration from @Geiger_Capital showing just how massive the US national debt really is:
Conclusion
Happy Wednesday friends! Stay alert out there!
And please RT/subscribe/etc if you found this valuable!
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Note
Premier omnichain perps dex @vertex_protocol just integrated with @FUN to bring traders seamlessly integrated, multi-source deposits!
“Deposit directly from
-@Arbitrum, @Base, @Ethereum, or @0xPolygon - more to come
-Coinbase, Binance, or Bitfinex
-Credit/debti cards
-Asset swaps
All in one smooth, unified flow…”
Learn more in the tweet below, and check out the new interview below that of Vertex co-founder @DariusTabai from @SynopsisEvents!
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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.