The Daily Degen - March 19th, 2023

All of today's news/data/alerts...

Happy Sunday degens! Big, big week coming up!

Stats/alerts/etc at top and tweets/news/links/videos/etc at bottom as always!

Market Update

Crypto:

Top Cryptocoins Ticker @TickerTop

1: Bitcoin price is $27101.27 (0.02% 1h) 2: Ethereum price is $1781.90 (0.03% 1h) 3: Tether price is $1.00 (0.02% 1h) 4: BNB price is $336.00 (-0.07% 1h) 5: USD Coin price is $1.00 (0.02% 1h) 9: Dogecoin price is $0.07 (0.23% 1h)

СryptoBubblesDaily @cryptobubbles24

The global #crypto market cap today is $1.19T, a -2.20% change in the last 24h. Total trading volume in the last 24h is at $224.4B. #BTC dominance is at 43.82% and #ETH - 17.92%. 19.03.2023 7:13:45 (UTC) #DeFi #NFT #BSC #Tether #AVAX #XRP #TRX #Solana

Gold: $1,989.30

Oil (WTI): $66.74

Stocks: N/A

Biggest Price Movers

(From @coingecko top 1000)

Spotlight

The good gents at @NestedFi are our official sponsor for the month of March! Nested is a Social Trading protocol which lets users create portfolios and copy-trade the portfolios of other traders. It currently supports ETH Mainnet, Arbitrum, Polygon, Avalanche, Optimism, and BSC.

They are building all sorts of cool stuff for 2023 so make sure to follow their Twitter account and keep a close eye on them!

Here’s the latest update from the team:

Nested 🧩 @NestedFi

Had a good week in the markets? You can now select the specific timeframe you want to display when sharing your Nested portfolios 🙏

Biggest TVL Movers

Chains are mixed today. Top 20 chains up at least 25% on the weekly include Tron (#2), Optimism (#6), Mixin (#9), DeFiChain (#11), Klaytn (#14), and Bitcoin (#17).

Protocols are mostly red today. Top 100 protocols up at least 30% on the weekly include JustLend (#7), Venus (#16), Velodrome (#27), Bwatch (#29), DeFiSaver (#50), Blur (#53), DeFiChain Loans (#73), CamelotDEX (#74), Beethoven X (#76), Katana Dex (#80), and Canto Dex (#92).

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 Stablecoins By Market Cap (from @coingecko):

Other Data Points

Bitcoin Fear/Greed Index:

(from @BitcoinFear)

Bitcoin Fear and Greed Index @BitcoinFear

Bitcoin Fear and Greed Index is 63. Greed Current price: $26,953

Ethereum Fear And Greed Index

(from @EthereumFear):

Ethereum Fear and Greed Index @EthereumFear

Ethereum Fear and Greed Index is 63 — Greed Current price: $1,760 opensea.io/assets/0x7fa81… etherscan.io/token/0x7fa813…

Crypto Volatility Index

(from @CVIdaily)

CVI Daily @CVIdaily

The Crypto Volatility Index is at 69.28 📊 The CVI ranges between 0-200 0-85 ≈ Low volatility 85-105 ≈ Medium volatility 105-200 ≈ High volatility Trade #volatility ($CVI): Platform 👉🏻 cvi.finance Sushiswap 👉🏻 sushi.com/swap?token0=0x… @official_CVI $CVI $GOVI

New Protocols

(note: this includes new protocols we find through combing Twitter each day, and we also include every (newly launched) protocol added by @defillama and @debank (excluding Tomb forks/reflection tokens/etc) - hence disclaimer: these are not pre-vetted by us so make sure to DYOR!)

-New chain building called @VenomFoundation. Twitter bio states “The asynchronous blockchain building a more connected future. Secure by design, scalable by nature”. h/t @Asyl101021:

volcano @Asyl101021

This thread is highlights from whitepaper of Venom Blockchain (VB) @VenomFoundation 1/

-New dex on Core has been added to @DefiLlama called @PalmaSwap. Twitter bio states “Exotic DEX platform on #Core”.

PalmaSwap @PalmaSwap

A new brand exotic #DEX on Core Mainnet 🌴 Join the most exotic #CoreDAO community 🌞 t.me/palmaswap #CoreDao_Org #CoreMainnet

t.mePalmaSwap | Official ChatYou can view and join @palmaswap right away.

-Previously-mentioned @FactorDAO has been added to @DefiLlama (Arbitrum). Description states “Factor gives exposure to a wide variety of community-generated yield opportunities, including passive and active strategies, thematic indices, and more.”

Factor 🏭 @FactorDAO

We are thrilled to announce that Roundtable Index, our early-access vault, has been launched, featuring four assets: $GRAIL $GMX $VELA $JONES At present, the vault can be accessed by veFCTR holders, and it is expected to grow with additional assets in due course. ⚔️ /1

-New Arbitrum protocol called @arbidex_fi has been added to @DefiLlama. Twitter bio states “💵REAL YIELD - EARN 100% PROTOCOL FEES in $BTC $ETH $USDC 💰Dual Farn Rewards Kyc'd, Audited & Doxxed $ARX - 0xD5954c3084a1cCd70B4dA011E67760B8e78aeE84”.

Arbitrum Exchange @arbidex_fi

ARBIDEX LIVE 🟢 ✅ REAL YIELD- Stake $ARX Earn $BTC $ETH $USDC ✅ Provide Liquidity to Earn $ARX & $ETH ✅ $ARX single staking - flexible & locked ✅ $ARX Trading Get $ARX now to earn real yield & provide liquidity to earn the best yield on #Arbitrum ▶️arbidex.fi

-Something called @synthe_x. Twitter bio states “Most Advanced and Efficient Synthetics protocol… Join the chat 💬”.

synthex @synthe_x

1/ Synthetic assets are the future of #DeFi derivatives and SyntheX is leading the way! Our protocol enables a free-flowing form of #derivatives that can be used as a token, invested in, transferred, and traded freely. 🧵

Top Stablecoin Yields

(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, minimum $1M+ TVL) and @stable_fish - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)

Other News And Analysis

(key news, twitter threads, articles, videos, etc from last 24 hours)

-Credit Suisse continues to generate headlines and speculation:

Investing.com @Investingcom

*UBS SEEKS $6 BILLION IN GOVERNMENT GUARANTEES FOR CREDIT SUISSE DEAL *10,000 JOBS MAY HAVE TO BE CUT IF UBS BUYS CREDIT SUISSE 🇨🇭🇨🇭

Jim Bianco biancoresearch.eth @biancoresearch

A source I trust tells me that the Swiss Governing council will hold a press conference about Credit Suisse tomorrow (Sunday) at 6:30 PM local (Zurich) time. No idea what they will say, and it can always be delayed or canceled. But this should add to the expectations that we… https://t.co/gVJePnRRKn

QE Infinity @StealthQE4

Wow. Goodbye Credit Suisse. I haven’t seen the details Curious to see if the stockholders get wiped out. The world is changing fast folks. This is 2008 type stuff. Cant believe it’s happening all over again. Let’s see how the markets react

wsj.comUBS Nears Deal to Take Over Credit SuisseThe talks are part of an urgent effort engineered by Swiss and global authorities to restore trust in the banking system.

-US regional banks continuing to dominate news/discussion as well:

Special Situations 🌐 Research Newsletter (Jay) @SpecialSitsNews

Breaking $FRC $WAL $PACW $ZION $KEYB $TFC Two-Year Guarantee: A coalition of midsize US banks asked federal regulators to extend FDIC insurance to all deposits for the next two years, arguing the guarantee is needed to avoid a wider run on the banks. https://t.co/OHp1oT0myx

The Kobeissi Letter @KobeissiLetter

On Friday, ~20 private jets landed in Omaha, Nebraska. According to flight data, many of these jets came from HQs of Regional Banks. Today, it was revealed that Biden was discussing the bank crisis with Warren Buffet. Is Warren Buffet preparing a deal to save the banks?

zerohedge @zerohedge

If the Fed does not contain the regional bank collapse, there will be another great depression. Small/medium banks account for 50% of US commercial and industrial lending, 60% of residential real estate lending, 80% of commercial real estate lending, and 45% of consumer lending

-Uncertainty regarding Fed rate hike decision this week:

Jim Bianco biancoresearch.eth @biancoresearch

2/2 Why the history lesson? Here is the chart of the probabilities for the meeting this week, March 22, 2023. Friday, the probabilities were 62% for a 25-basis point hike and 38% for no move. Not only is this the most uncertain meeting since forward guidance began in 1994,… https://t.co/70jt4zHGz9

Charlie Bilello @charliebilello

Current market expectations for the path of the Fed Funds Rate... -Mar 22, 2023: 25 bps hike to 4.75%-5.00% -Pause -Rate cuts start in June 2023 w/ a Fund Funds Rate below 4% at the end of 2023 and below 3% at the end of 2024.

Josh Young @Josh_Young_1

FED TO CONSIDER A PAUSE AS FALLOUT FROM SVB ROILS MARKETS

finance.yahoo.comFed to Consider a Pause as Fallout From SVB Roils Markets(Bloomberg) -- Federal Reserve officials face their biggest challenge in months as they weigh whether to keep raising interest rates this week to cool inflation, or take a pause amid the market turmoil fueled by recent bank failures.Most Read from BloombergWarren Buffett in Contact With Biden Team o…

-Total crypto market cap back over $1.2T:

Watcher.Guru @WatcherGuru

JUST IN: Global #cryptocurrency market cap surpasses $1.2 trillion.

-@DefiLlama’s dex aggregator hits $5B in volume:

DefiLlama.com @DefiLlama

🧵 The DeFiLlama aggregator launched in early January this year and has reached $5b in volume today!! Here's some data about activity on the most popular DEX aggregator out there and what's next for the aggregator and DeFiLlama. More below 👇

-Interesting story re: the London Metal Exchange:

JennyManyDots @jenstilmanydots

The London Metal Exchange has discovered bags of stones instead of the nickel that underpinned a small handful of its contracts at a warehouse in Rotterdam, in a revelation that will deliver another blow to confidence in the embattled exchange.

mining.comLME rocked by new nickel scandal after finding bags of stonesThe LME has discovered bags of stones instead of the nickel that underpinned a small handful of its contracts at a warehouse in Rotterdam.

-@CamelotDEX getting a lot of attention in run up to Arbitrum airdrop:

Ice @FroyoFren

It's clear that on Arbitrum, $GRAIL is the place to be — especially for protocols. The Camelot Launchpad's pipeline of high-quality projects is another source of TVL and fees Current and new protocols are choosing to put their liquidity on Camelot, and this trend will continue

Burgerflipper @trmachine888

One of GCR address just bridged into Arbitrum using SYN bridge to buy 1m USD worth of $GRAIL. He is still holding 33m USD on his wallet.

-@JaviarBlas on oil:

Javier Blas @JavierBlas

The lopsided world of oil: WTI down briefly to near $65 a barrel WTI time-spreads deeper into contago (and Brent prompt time-spread is flirting with it) And yet, 321 WTI crack spread surges to $40 a barrel, one of the highest levels in six months. #OOTT

-Interesting security thread from @functi0nzer0:

laurence @functi0nZer0

I've noticed a new type of 'attack' taking place that makes use of Etherscan, and I've seen at least one victim of it today It falls into that zone between lazy bait and sick genius, so it's worth highlighting for everyone Serious thread for a change [1/whatever]

-@GCRClassic on prices and the Balaji $1M Bitcoin bet:

GCR @GCRClassic

@balajis as the years pass, we will increasingly trust code over governments but it happens over years and decades, not months 1 million usd is obviously unrealistic; but even a more reasonable target, breaking all time high of 69k, will not happen in 2023 nature is still healing

-Very thorough thread from @korpi87 on 30 Arbitrum protocols to know about:

korpi @korpi87

Arbitrum is on fire! With $ARB airdrop worth >$1B, a lot of liquidity will trickle into its ecosystem projects. "A rising tide lifts all boats" If you still look for INVESTMENT OPPORTUNITIES, this is a mega thread with 30 innovative projects building on Arbitrum:

-An account called @Defi_Maestro has been live-tweeting a fascinating trading journey, latest update below:

Defi_Maestro 🫐 @Defi_Maestro

Day 49 - $268k in Stables - $66k in $JOE (+35%) - $42k in $ETH (+0%) - $15k in $KWENTA (+44%) Total Value ~ $391k (+291%) Changes: - Sold $178k $JOE for Stables - Sold all $RDNT for $ETH debank.com/profile/0xd14a…

Defi_Maestro 🫐 @Defi_Maestro

Day 48 - $266k in $JOE (+53%) - $93k in USD - $35k in $RDNT (+29%) - $15k in $KWENTA (+50%) Total Value ~ $409k (+309%) 🔥🔥🔥 Changes: - Sold $210k $RDNT for $JOE - Sold all $LQTY for USD - Sold $65k $JOE for USD https://t.co/vmr6wHHvTs https://t.co/e9hQvPxt6g https://t.co/cpDY8DbSZL

-Good macro article from @LastBearStanding:

TheLastBearStanding @LastBearStandng

🚨🚨 The Death of QT 🚨🚨 Just like last time, it ended with a bang... 👇👇 thelastbearstanding.substack.com/p/the-death-of…

thelastbearstanding.substack.comThe Death of QT#46: Just like last time, it ended with a bang.

-New episode of @Blockbytescom’s Across The Chains, discussing a variety of current crypto-focused stories/events, featuring @crypto_klay, @0xDoubleSharp, @0xSouvlaki, and more:

-New livestream from @RealVision featuring @RaoulGMI and @AndreasSteno:

-Parting humor from @CL207 and @Citrini7 and wisdom from @DeFi_Creed:

CL @CL207

price up = good price down = transfer to stronger hands pos funding = leverage drive us higher neg funding = bullish reset inflows = exchange obtaining bitcoins to sell to institutions outflows = holders moving to cold wallet rates up = banks implode rates down = hyperinflation

Citrini “Fed Rug Pull” @Citrini7

I am in the unique minority that thinks the Fed should pause, not because we’re facing a recession if they don’t but because I think it’ll reaccelerate inflation & Im really good at trading in an inflationary environment apparently

CREED @DeFi_Creed

Consistency is a Key Virtue of Success. The More you show up the more advancement you make even in the midst of failure and pain A popular Movie Quote says: "The hardest Choices requires the Strongest will" Gm gm to those who keep showing up!

Conclusion

Have a great Sunday friends and rest up for the big week ahead! :)

And please RT/follow/etc if you found this valuable! :)

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