Happy Saturday friends! The Ides of March are here!
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: $2.856T
Gold: $2993.60
Oil (WTI): $67.18
US 10Y Treasury: 4.32%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Things are extremely hot on Sonic right now and @vertex_protocol is at the heart of it!
Yield-farmers and airdrop-maximalists are engaging in all sorts of creative strategies to maximize their Points & Gems, and Vertex factors into a huge number of these!
Here’s a breakdown on one such strategy from @marvellousdefi_:
Biggest TVL Movers + Else
Chains are very green today. Best-performing chains on the weekly with at least $25M TVL are Soneium, Sei, Waves, Story, and Sonic.
Protocols are mixed today. Best-performing protocols on the weekly with at least $25M TVL are restaked BTC protocol Lorenzo, multichain managed token pools protocol Veda, multichain dex Quickswap, Morph dex BulbaSwap, and Bybit staked SOL.
Here’s The Top 12 Chains By TVL (from @DefiLlama):
Here’s The Top 12 Protocols By TVL (from @DefiLlama):
Here’s The Top 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!)
-New project called @rheifinance. Twitter bio states “building the future 🔜”. Followed by 6 of our mutuals. h/t @AresLabs_xyz:
-New project called @takesdotfun. Twitter bio states “Share your takes and take profits | Backed by @alliancedao (ALL12)”. Followed by 14 of our mutuals. h/t @AresLabs_xyz:
-New project called @Burve_fi. Twitter bio states “The Greatest Show in DeFi - Maximizing yield on Berachain with multi-token swaps, LP leverage, and de-peg insurance.” Followed by 8 of our mutuals. h/t @AresLabs_xyz and @Berasearch:
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
-Total crypto market cap bounced off recent lows a bit and is hovering around $2.85T, still below 2021 bull market peak of $3T though, h/t @DaanCrypto:
-Defi mindshare now 2x that of memecoin mindshare, a sharp reversal compared to several months ago, h/t @TheDeFinvestor:
-Much ongoing debate about top wallets… Is MetaMask better than people give it credit for? h/t @HollanderAdam:
-Saylor and MicroStrategy apparently represented 28% of the flow into Bitcoin this year, h/t @krugermacro and @HayekAndKeynes:
-(Related) thoughts on the Saylor flywheel from @thedefivillain:
-Stocks reached ‘oversold’ levels this week not seen since 2020, but bounced slightly Friday afternoon heading into the end of the week, h/t @DaanCrypto:
-Excitement continues to build and $PRIME continues to be cached in anticipation of the coming $PROMPT airdrop:
-Interesting story that BNY Mellon is now integrating with $USDC, h/t @Cointelegraph:
-Is gold’s performance a positive indicator for short to medium term crypto performance? h/t @alpha_pls:
-Interesting thoughts regarding the upcoming Texas Stock Exchange that is making lots of headlines, and that @NateGeraci believes will be very crypto-friendly and crypto-integrated:
-"The reality is we raised too much money as an industry for too few good projects..." - interesting thoughts on state of crypto fundraising from @dunleavy89:
-New @DeFi_Dad interview with Etherealize founders Danny Ryan and @VivekVentures:
-New NFA Live livestream (published yesterday):
-New interview with tradfi investor @hkuppy:
-New episode of the All In Podcast:
-New Kyle Chasse interview with Sonic founder Andre Cronje:
-Parting wisdom from @Muncheds2:
Conclusion
Happy Saturday friends and 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 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.