The Daily Degen - March 21st, 2023

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

Happy Tuesday friends! Big week continues!

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 $28038.39 (1.31% 1h) 2: Ethereum price is $1753.66 (0.85% 1h) 3: Tether price is $1.00 (-0.11% 1h) 4: BNB price is $334.17 (0.79% 1h) 5: USD Coin price is $1.00 (-0.08% 1h) 9: Dogecoin price is $0.07 (1.36% 1h)

СryptoBubblesDaily @cryptobubbles24

The global #crypto market cap today is $1.20T, a -2.28% change in the last 24h. Total trading volume in the last 24h is at $123.5B. #BTC dominance is at 44.91% and #ETH - 17.57%. 21.03.2023 9:42:15 (UTC) #DeFi #NFT #BSC #Tether #AVAX #XRP #TRX #Solana

Gold: $1,966.00

Oil (WTI): $68.24

Stocks:

News4Moves @News4Moves

#Monday 03/20/23 Stock Market Wrap Major Indices Action: S&P 500 $SPX 0.89% NASDAQ Comp. $IXIC 0.39% Dow Jones Ind. $DJI 1.20% Volatility Index $VIX -5.33%

Biggest Price Movers

(From @coingecko top 1000)

Spotlight

We’re helping raise awareness about what the Chads over at @TimeswapLabs have been up to!

Timeswap is a gigabrain protocol that describes itself as “Like Uniswap - but for lending and borrowing”.

They also just finished their much-anticipated V2 release, which is generating lots of attention…

And just made the very important announcement below!

Timeswap ⏳ @TimeswapLabs

Gm Time Travelers 🧑‍🚀 Timeswap will be launching on @arbitrum this Thursday (March 23; Airdrop day), bringing the first ever lending/borrowing market for the $ARB token! (💙,🧡) Are you ready to earn yield/ lever up your $ARB exposure? 👀⏳

Biggest TVL Movers

Chains are mostly red today. Top 30 chains green on all three timelines (daily, weekly, monthly) include Arbitrum (#4), Solana (#12), and Rootstock (#28).

Protocols are mostly red today as well. Top 100 protocols green on all three timelines (daily, weekly, monthly) include Olympus DAO (#35), Tectonic (#58), Hop Protocol (#69), DeFiChain Loans (#72), and RealT (#83).

Here’s The Top 12 Chains By TVL (from @DefiLlama):

Here’s The Top 12 Protocols By TVL (from @DefiLlama):

Other Data Points

Bitcoin Fear/Greed Index:

(from @BitcoinFear)

Bitcoin Fear and Greed Index @BitcoinFear

Bitcoin Fear and Greed Index is 68. Greed Current price: $27,763

Ethereum Fear And Greed Index

(from @EthereumFear):

Ethereum Fear and Greed Index @EthereumFear

Ethereum Fear and Greed Index is 64 — Greed Current price: $1,735 opensea.io/assets/0x7fa81… etherscan.io/token/0x7fa813…

Crypto Volatility Index

(from @CVIdaily)

CVI Daily @CVIdaily

The Crypto Volatility Index is at 75.07 📊 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 protocol on Arbitrum called @PonySwapFinance. Twitter bio states “The latest DeFi DEX aggregator on Arbitrum One.” h/t @pupisberlucchis:

PonySwap @PonySwapFinance

🧑‍🌾 The WETH-DAI LP ranch is now live on ponyswap.finance/ranch 🧑‍🌾 ⚖️ LP Token: WETH-DAI LP 📝 Pool Weight: 2x 💸 Deposit Fee: 2%

-Something new called @BasedLend. Twitter bio states “Lend and borrow crypto assets on @BuildOnBase. BasedLend is an open source and non-custodial liquidity protocol. Based on @RDNTCapital and @GeistFinance.” h/t @toffee248:

toffee @toffee248

4)@BasedLend is a protocol that allows users to lend and borrow cryptocurrency assets without relying on a centralised custodian. It is open source and built on top of @RDNTCapital and @GeistFinance

-New Sui protocol called @DeepBookonSui. Twitter bio states “The financial infra for all things Defi on @SuiNetwork. A public good built together by @joinMovEX & @SuiFoundation”. h/t @toffee248:

toffee @toffee248

5)@DeepBookonSui is a shared decentralised limit order book built for the @SuiNetwork ecosystem, which allows developers to create DeFi apps that can exchange tokens based on an order book model.

DeepBook - CLOB on Sui @DeepBookonSui

We are excited to announce DeepBook, a shared decentralized central limit order book (CLOB) built on @SuiNetwork. DeepBook will bring Deep Liquidity to all Defi protocols on Sui. It is built by @joinMovEX & @SuiFoundation, with strong support from @Mysten_Labs. See 🧵 https://t.co/UAKyIV4gnH

-Something called @realSmarDex on Eth Mainnet has been added to @DefiLlama. Twitter bio states “The 1st DEX to fix Impermanent Loss Source Code protected by BSL 🛡 Swiss Team 🇨🇭 Try it yourself, there is only one SmarDex! 👇 The future of DeFi here!”

SmarDex @realSmarDex

What is SmarDex? 🤗 ✅ First DEX ever to fix Impermanent Loss ✅ Based on 2 years of research ✅ Source Code protected (no copycat!) ✅ $15m TVL in only 3 days ✅ Swiss Team from the best university in Europe ✅ Backed by a scientific paper Guess who's obsolete soon?... 🦄👀

-Previously-mentioned @Soheidotio has been added to @DefiLlama. Again, Twitter bio states “Building the ultimate DeFi lending experience, powered by Arbitrum.”

Sohēi.io @Soheidotio

🚀 Sohei protocol is now LIVE! Discover the future of decentralized lending in our latest Medium article💥 Join the revolution now! 🔗 medium.com/@Soheidotio/so…

Security Alerts

-@ParaSpace_NFT update:

ParaSpace @ParaSpace_NFT

Thank you again to @BlockSecTeam and their exceptional assistance in ensuring the security of the ParaSpace platform. We received the 2,909 $ETH that the @BlockSecTeam recovered and awarded them a 5% bounty. Key updates you need to know RE our security patch/overhaul 🪡

Top Stablecoin Yields

(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, minimum $5M+ 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)

-US banking crisis updates:

Bloomberg @business

EXCLUSIVE: US officials are studying ways to let the FDIC temporarily insure deposits beyond the current $250,000 cap on most accounts, without having to get approval from a deeply divided Congress trib.al/z0iAtqP

Fintwit @fintwit_news

This is not a cryptocurrency. It’s First Republic, the 14th largest U.S. bank.

Jim Bianco biancoresearch.eth @biancoresearch

1/2 Regarding First Republic: -- The San Francisco-based bank’s customers have withdrawn some $70 billion since the collapse of Silicon Valley Bank earlier this month.

wsj.comWSJ News Exclusive | JPMorgan CEO Jamie Dimon Leading Efforts to Craft New First Republic Bank Rescue PlanJPMorgan Chase CEO Jamie Dimon is leading discussions with the chief executives of other big banks about fresh efforts to stabilize troubled First Republic Bank.

Steve Donzé @steve_donze

US money market funds v. US domestic banks deposits 'Nothing is lost, everything is transformed'

-Arbitrum airdrop only days away. h/t @NEONprotocolio:

NΞON Protocol 🦇🔊 @NEONprotocolio

It is what it is

-Binance announced that they will be listing the new Arbitrum token:

Binance @binance

#Binance is listing @arbitrum $ARB. ➡️ binance.com/en/support/ann…

-Bill Ackman and Elon Musk call on the Fed to pause/pivot:

StockMKTNewz - Evan @StockMKTNewz

Bill Ackman just said he thinks Jerome Powell and the Fed should not raise rates on Wednesday

Elon Musk @elonmusk

@BillAckman @federalreserve Fed needs to drop the rate by at least 50bps on Wednesday

-@AndreasSteno thinks significant cuts over rest of the year are likely:

AndreasStenoLarsen @AndreasSteno

200 bps worth of cuts this year? I think that is a feasible scenario by now 1/n

-Current FOMC rate hike estimates:

GURGAVIN @gurgavin

FOMC RATE HIKE ESTIMATES NOMURA - 25 BPS ( EXPECTS RATE CUT) BARCLAYS 0 BPS CREDIT SUISSE 0 BPS GOLDMAN SACHS 0 BPS BMO 25 BPS CIBC 25 BPS CITI 25 BPS BLOOMBERG 25 BPS JP MORGAN 25 BPS GURGAVIN CAPITAL 25 BPS MORGAN STANLEY 25 BPS RBC 25 BPS KPMG 50 BPS MEDIAN 25 BPS

-Good thread from @IAmZeroIka:

ZERO IKA 🗡️ @IamZeroIka

The Crypto world can provide huge opportunities but also severe lessons. What makes the difference is the ability to get up from mistakes and come back stronger. Here are 10 lessons that I learned during my 6 years in crypto which made me a better investor. 1/21 👇🧵

-Short trading strategy tweet from @CoinGurruu generated a lot of interest on Twitter today:

💐Guru 💐 @CoinGurruu

>dexscreener >arbitrum >sort by top 5m gainers >compare txs/vol/mcap >quick cashtag twitter search >check if renounced/lock liq >check distro >sub 500k mcap w/ working product? >ez buy how less than 5m of research made me some x’s playing low caps this week very hard

-Thoughts from @LynAldenContact:

Lyn Alden @LynAldenContact

Rapidly printing money is basically a "breach of contract" for existing savers. Similarly, rapidly destroying money is basically a "breach of contract" for existing debtors. The current Fed uses the monetary base like a yoyo, up and down. Very active and generally in a rush.

-Interesting tweet from @CryptoHayes:

Arthur Hayes @CryptoHayes

Banking $BTC going old school again. Every spot exchange will trade at a diff price depending on how reliable their fiat banking partner is assuming they have one. Welcome back arbitrage.

-Update from Japan:

Sven Henrich @NorthmanTrader

In the meantime the balance sheet of the Bank of Japan prints a new record high.

-Good article from @CurveCap on the DefiLlama situation:

curvecap.lens @CurveCap

March 20, 2023: Llama Drama 🦙💔 DefiLlama Divorce Disheartens Degens open.substack.com/pub/curve/p/ma…

open.substack.comMarch 20, 2023: Llama Drama 🦙💔DefiLlama Divorce Disheartens Degens

-@Blockbytescom did a Twitter spaces with Fantom Head of Marketing @juanaxyz00:

-Interesting video from Real Vision Crypto:

-Parting wisdom from @crypto_bitlord7, @Jake_Pahor, and @bokdelmao:

Crypto Bitlord @crypto_bitlord7

(This is a crypto bull market) You can start with peanuts and end up as a multi-millionaire by the time it’s done. Dedicate your life to this game and it’s possible. <Believe in yourself> 🚀🚀🚀

Jake Pahor @jake_pahor

"I don't know" is an under-used phrase at the moment re. market direction. In reality, no-one can have 100% certainty around anything. In some ways it can actually be quite freeing to admit that you don't know. Makes you think about how to manage all outcomes.

Craetin @bokdelmao

The market is the sea and we are but only sailors. Flourishing with its blessing. We must respect its tides. Up with it. Down with it. You can rage against it or plead to it. It won't care. Respect the market. Flow with it.

Conclusion

Have a great Tuesday friends and stay alert out there!

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

-

Note

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!

Nested 🧩 @NestedFi

$ARB drops this Thursday (💙, 🧡) And @arbitrum ecosystem tokens are on fire right now 🔥 9 Arbitrum portfolios you should pay attention to 🧵