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The Daily Degen - March 22nd, 2023

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The Daily Degen - March 22nd, 2023

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

The Daily Degen
Mar 22, 2023
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The Daily Degen - March 22nd, 2023

thedailydegen.substack.com

Happy Wednesday and happy FOMC (rate-hike) day degens!

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

Market Update

Crypto:

Twitter avatar for @TickerTop
Top Cryptocoins Ticker @TickerTop
1: Bitcoin price is $28196.24 (0.25% 1h) 2: Ethereum price is $1793.12 (0.02% 1h) 3: Tether price is $1.00 (0.06% 1h) 4: BNB price is $337.86 (0.05% 1h) 5: USD Coin price is $1.00 (0.05% 1h) 8: Dogecoin price is $0.08 (-0.25% 1h)
8:49 AM ∙ Mar 22, 2023
Twitter avatar for @cryptobubbles24
СryptoBubblesDaily @cryptobubbles24
The global #crypto market cap today is $1.23T, a 1.94% change in the last 24h. Total trading volume in the last 24h is at $269.8B. #BTC dominance is at 44.56% and #ETH - 17.75%. 22.03.2023 4:12:58 (UTC) #DeFi #NFT #BSC #Tether #AVAX #XRP #TRX #Solana
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4:15 AM ∙ Mar 22, 2023

Gold: $1,940.40

Oil (WTI): $69.07

Stocks:

Twitter avatar for @News4Moves
News4Moves @News4Moves
#Tuesday 03/21/23 Stock Market Wrap Major Indices Action: S&P 500 $SPX 1.30% NASDAQ Comp. $IXIC 1.58% Dow Jones Ind. $DJI 0.98% Volatility Index $VIX -11.47%
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8:37 PM ∙ Mar 21, 2023

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!

Twitter avatar for @NestedFi
Nested 🧩 @NestedFi
It's @arbitrum season. We took a look at: • The $ARB airdrop requirements • The $ARB tokenomics • Which projects are set to benefit the most from $ARB • Which projects are being traded the most on Arbitrum Alpha 👇
Image
4:35 PM ∙ Mar 21, 2023
56Likes12Retweets

Biggest TVL Movers

Chains are mostly green today. The top gainers on the weekly with at least $1M TVL are Map at $1.29M TVL and +113%, Starknet at $2.44M and +42.19%, and Obyte at $1.73M and +31.30%.

Protocols are also mostly green today. Biggest gainers on the weekly with at least $1M in TVL are Ramses Exchange on Arbitrum at $63.58M TVL and +18,878%, GrizzlyFi on BSC at $15.73M and +1,017%, and SmartDex on Eth Mainnet at $10.5M and +336%.

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 Chains By Stablecoin Inflows Over The Last 7 Days (from @DefiLlama):

Other Data Points

Bitcoin Fear/Greed Index:

(from @BitcoinFear)

Twitter avatar for @BitcoinFear
Bitcoin Fear and Greed Index @BitcoinFear
Bitcoin Fear and Greed Index is 62 — Greed Current price: $28,173
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12:00 AM ∙ Mar 22, 2023
651Likes82Retweets

Ethereum Fear And Greed Index

(from @EthereumFear):

Twitter avatar for @EthereumFear
Ethereum Fear and Greed Index @EthereumFear
Ethereum Fear and Greed Index is 63 - Greed Current price: $1,807 opensea.io/assets/0x7fa81… etherscan.io/token/0x7fa813…
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12:00 AM ∙ Mar 22, 2023
103Likes16Retweets

Crypto Volatility Index

(from @CVIdaily)

Twitter avatar for @CVIdaily
CVI Daily @CVIdaily
The Crypto Volatility Index is at 71.08 📊 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
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9:56 AM ∙ Mar 21, 2023
10Likes2Retweets

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 BSC called @SakaiVault has been added to @DefiLlama. Twitter bio states “Decentralised Perpetual Exchange. Gain exposure to a variety of assets with up to 25x leverage and deep liquidity.”

Twitter avatar for @SakaiVault
Sakai Vault @SakaiVault
SAKAI VAULT OFFICIALLY LISTED ON DEFILLAMA 🔥🔥 We're thrilled to announce that Sakai Vault, the cutting-edge decentralized finance (DeFi) protocol, has been listed on Defillama - the most comprehensive DeFi analytics and ranking platform: defillama.com/protocol/sakai… As a leading… https://t.co/DewRmezEXG
6:00 PM ∙ Mar 21, 2023
21Likes9Retweets

-A new dex on Loop Network called @ZukeSwap has been added to @DefiLlama. Twitter bio states “A Decentralized Exchange on #LoopNetwork”.

Twitter avatar for @ZukeSwap
ZukeSwap @ZukeSwap
Only 5.5 hours left until our #presale starts! Get ready to take part in the $ZUKE presale and get in on the action early.
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4:31 AM ∙ Mar 22, 2023
5Likes2Retweets

-Something called @Etherwars_ on Arbitrum. Twitter bio states “Ether Wars is a risk-to-earn arena style PvP game developed on #Arbitrum”. h/t @AresLabs_xyz:

Twitter avatar for @Etherwars_
Ether Wars @Etherwars_
Introducing Ether Wars a new risk to earn #GameFI experience on #Arbitrum, where you can showcase your prowess and wager your ETH in the ultimate PvP battle arena. Engage in fierce one-on-one combat with the pursuit of victory and glory!
medium.comEther Wars: Embrace the Gladiator Within and Triumph in the Crypto ArenaWelcome to the exhilarating world of Ether Wars, where you can showcase your prowess and wager your ETH in the ultimate PvP battle arena…
6:57 PM ∙ Mar 20, 2023
57Likes30Retweets

-Previously-mentioned @OnyxProtocol has been added on @DeBankDefi (ETH Mainnet). Again, Twitter bio states “Earn, borrow, and build with #OnyxProtocol, a fully decentralized cross-token liquidity market powered by $XCN that supports NFTs and crypto.”

Twitter avatar for @OnyxProtocol
Onyx @OnyxProtocol
Still sitting on stables? 👀 it’s not just $UNI, $LINK, and others with attractive $XCN boosted APY on Onyx Protocol 👏 current rates at app.onyx.org are: $USDC 55% 👈 $USDT 34% 👈 $DAI 178% 👈 $USDP 1430% 👈
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1:41 AM ∙ Mar 22, 2023
39Likes33Retweets

-Newish protocol on Waves called @puzzle_lend has been added to @DefiLlama. Twitter bio states “Puzzle Lend is the safest Lending Protocol built on the Waves blockchain 🧩”.

Twitter avatar for @puzzle_lend
Puzzle Lend @puzzle_lend
Best APY on lend.puzzleswap.org PWR 125% XTN 75% wxUSDT 8% Have a good week everyone 💜💜💜
lend.puzzleswap.orgPuzzle LendDecentralized exchange of a newer generation
5:26 AM ∙ Mar 20, 2023
52Likes18Retweets

-Previously-mentioned @MantisSwap has been added to @DefiLlama. Again, Twitter bio states ‘Single-sided AMM for trading pegged assets on @0xPolygon by Mantissa Finance”.

Twitter avatar for @MantisSwap
Mantis Swap @MantisSwap
🚀🎉 @MantisSwap Public Beta is now live on @0xPolygon Mainnet! 🚀🎉 🌐 app.mantissa.finance 💲 Users can now deposit their USDC, USDT or DAI 💪 Get ready to experience single-sided LPing with maximum capital efficiency & protection against principal losses all in oneplace
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6:25 PM ∙ Mar 20, 2023
92Likes31Retweets

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)

-FOMC (Fed rate hike announcement) today:

Twitter avatar for @tedtalksmacro
tedtalksmacro @tedtalksmacro
Fed funds futures repricing higher into tomorrow's FOMC meeting.
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9:09 PM ∙ Mar 21, 2023
103Likes4Retweets
Twitter avatar for @gurgavin
GURGAVIN @gurgavin
FOMC RATE HIKE FINAL ESTIMATES NOMURA - 25 BPS ( EXPECTS RATE CUT) BARCLAYS 0 BPS CREDIT SUISSE 0 BPS GOLDMAN SACHS 0 BPS WELLS FARGO 0 BPS BMO 25 BPS CITI 25 BPS BLOOMBERG 25 BPS JP MORGAN 25 BPS GURGAVIN CAPITAL 25 BPS MORGAN STANLEY 25 BPS RBC 25 BPS MEDIAN 25 BPS
6:00 PM ∙ Mar 21, 2023
501Likes85Retweets

-Official numbers on which Arbitrum protocols will be receiving what size airdrops are apparently out:

Twitter avatar for @JackNiewold
Jack Niewold 🫡 @JackNiewold
Arbitrum is giving out millions of dollars in free tokens to DAOs. In some cases, this represents an enormous capital infusion to projects. Here are the projects that are getting the biggest $ARB allocation for their Market Cap size. (The table assumes 1 $ARB = $1)
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4:52 PM ∙ Mar 21, 2023
167Likes35Retweets
Twitter avatar for @midoji7
Midoji @midoji7
Watch the Airdrop/MC ratio for Arbitrum's airdrop. $VSTA and $SDL are the most undervalued projects Also worth noticing that $MAGIC holds the largest bag + you can expect big announcements today Said that, $GFLY one of the top performers too + $MAGIC beta play Alfalfa here🤫
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3:05 PM ∙ Mar 21, 2023
72Likes19Retweets
Twitter avatar for @nansen_ai
Nansen | 📍Paris Blockchain Week @nansen_ai
Arbitrum DAO airdrop list: docs.google.com/spreadsheets/d…
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2:07 PM ∙ Mar 21, 2023
743Likes203Retweets

-Banking crisis updates:

Twitter avatar for @WatcherGuru
Watcher.Guru @WatcherGuru
JUST IN: 🇸🇪 Sweden's largest pension fund sells all First Republic Bank $FRC shares at a $728 million loss.
2:46 PM ∙ Mar 21, 2023
6,831Likes1,489Retweets
Twitter avatar for @zerohedge
zerohedge @zerohedge
Every day the Fed is paying the LARGE banks and money markets $650MM in interest on reserves and reverse repos ($700MM tomorrow). Meanwhile, the small banks are hemorrhaging billions in liquidity and are about to shut lending activity due to a deteriorating reserve shortage
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11:09 PM ∙ Mar 21, 2023
3,157Likes1,183Retweets
Twitter avatar for @biancoresearch
Jim Bianco biancoresearch.eth @biancoresearch
ti:dr of this thread Banks are losing deposits because yield seekers are leaving. Three choices: Don't raise savings rates, continue to bleed deposits. Raise savings rates kill bank profitability. Cut the funds rate, risk higher and persistent inflation.
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Twitter avatar for @biancoresearch
Jim Bianco biancoresearch.eth @biancoresearch
1/n This chart comes from the Fed H8 report. It is current through the latest data, March 8 ... two days before Silicon Valley Bank failed. What has been the largest drawdown of deposits since the financial crisis? The weeks BEFORE the bank failures of the last few weeks. https://t.co/2uZ9H5knZl
8:44 PM ∙ Mar 21, 2023
814Likes170Retweets

-Significant TVL inflow to @Starknet:

Twitter avatar for @nansen_ai
Nansen | 📍Paris Blockchain Week @nansen_ai
📈 We are seeing a significant increase in net inflows/deposits to @Starknet too Since March 17, almost $3.4 million has been deposited 📈 Data: #NansenQuery
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12:58 AM ∙ Mar 22, 2023
87Likes7Retweets

-Circle/USDC update:

Twitter avatar for @jerallaire
Jeremy Allaire @jerallaire
1/ Today we announced that we have formally registered to be regulated in France as the headquarters for our European expansion, under French digital assets and e-money laws, with plans for EU-wide operations under MiCA.
circle.comCircle Applies for Regulatory Approvals in France, Doubling Down on European ExpansionCircle seeks recognition from one of the most sophisticated regimes in the EU with applications for key authorisations from French financial regulators
3:29 PM ∙ Mar 21, 2023
1,322Likes270Retweets

-Interesting stat from excellent thread of current market data from @LDNCryptoClub:

Twitter avatar for @LDNCryptoClub
LondonCryptoClub @LDNCryptoClub
Volumes - Amid last weeks broad market rally, #Crypto trade volumes reached their highest level since the FTX collapse.
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9:59 AM ∙ Mar 21, 2023

-Geopolitical/USD update:

Twitter avatar for @WatcherGuru
Watcher.Guru @WatcherGuru
🇷🇺 Russia to use Chinese yuan instead of US dollars to settle trade with Asia, Africa, and Latin America.
1:20 AM ∙ Mar 22, 2023
16,671Likes4,629Retweets

-Great thread on Arbitrum airdrop from @OlimpioCrypto, with lots of interesting data/info:

Twitter avatar for @OlimpioCrypto
olimpio @OlimpioCrypto
▓▓▓▓░░ 71% Arbitrum's $ARB is coming this Thursday 🦅🔵 77% of my audience got this airdrop. Congrats everyone, BTW ⚡️ 26% is holding no matter the price, and 50% is not selling below $1.25. What is the purpose of the ARB token? 🧵👇
7:16 PM ∙ Mar 21, 2023
1,263Likes144Retweets

-Another good thread on Arbitrum airdrop, focusing specifically on current OTC action of people selling their airdrop allocations, from @cole0x:

Twitter avatar for @cole0x
Cole @cole0x
I've noticed a few trends in the $ARB OTC markets and have drawn some high level conclusions from them and what they could mean for the token launch 1/n
4:29 PM ∙ Mar 21, 2023
257Likes45Retweets

-More Arbitrum token OTC data, from @avocado_toast2:

Twitter avatar for @avocado_toast2
Avocado Toast (💙,🧡) @avocado_toast2
Interesting distribution of $ARB OTC txs courtesy @coindataschool
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4:25 AM ∙ Mar 22, 2023
96Likes18Retweets

-Europe update:

Twitter avatar for @Schuldensuehner
Holger Zschaepitz @Schuldensuehner
End of QT? #ECB balance sheet rose in the past week by €2.5bn to €7,831.9bn as other claims on euro area credit institutions denominated in euro jumped. ECB's total assets now equal to 59% of Eurozone GDP vs Fed's 33% and BoJ's 133%.
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12:09 AM ∙ Mar 22, 2023
657Likes238Retweets

-Good thread from @ed_Nuward about @zksync, which has been getting a lot of attention as of late due to its potential airdrop:

Twitter avatar for @ed_Nuward
The Smart Ape 🔥 @ed_Nuward
Everyone talks about @zksync or especially the potential #airdrop BUT Do you know what @zksync is? How is it different from @arbitrum ? How advanced it is ? These are the questions you should ask before betting on a potential airdrop Let's see it all in this THREAD 🧵🧵🧵
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9:47 PM ∙ Mar 21, 2023
18Likes3Retweets

-Euler Finance hack situation continues to get more convoluted:

Twitter avatar for @TheDEFIac
DeFiac @TheDEFIac
Grab your popcorn. Euler Finance situation getting interesting as the exploiter received an encrypted message from the Ronin Bridge Exploiter - which is believed to be Lazarus - DPRK hacking group.
6:16 PM ∙ Mar 21, 2023
91Likes19Retweets

-Video on banking crisis from @Blockworks_:

-@BanklessHQ interviewed @balajis about the recent publicity he’s been generating:

-New protocol breakdown from @ceazor7:

-New video from @drakeondigital discussing a number of ‘real yield’ style protocols:

-Parting wisdom from @schizoxbt and @crypto_linn:

Twitter avatar for @schizoxbt
Schizoxbt 🐻⛓️⚛️ @schizoxbt
Anyone else get joy from just trying out different apps and protocols? I get giddy from innovation and being apart of it all. ITS COOL SHIT YO
1:22 AM ∙ Mar 22, 2023
Twitter avatar for @crypto_linn
🉐 Crypto Linn @crypto_linn
once crypto is in full bull and normoids return to twitter we will miss these times when it was just us weirdos
10:51 PM ∙ Mar 21, 2023
315Likes24Retweets

Conclusion

Have a great Wednesday friends and stay alert today lest Powell try to rug us :)

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

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The Daily Degen - March 22nd, 2023

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