Happy Saturday good degens! Another beautiful day in crypto!
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: $2.86T
Gold: $3028.20
Oil (WTI): $68.28
US 10Y Treasury: 4.25%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Things on Sonic keep heating up and all manner of defi gigabrains and yield farming extraordinaires are out in force on the increasingly popular chain, attempting to maximize their Points & Gems ahead of the airdrop and reap rewards in all sorts of other ways as well!
Our friends at @vertex_protocol are smack dab in the middle of the action, and are in the middle of distributing 1.75M in Sonic/$S token rewards to traders!
Check out the great Vertex<>Sonic farming guides below from @zerototom and @marvellousdefi_ and make sure to follow Vertex on Twitter for more updates!
Biggest TVL Movers + Else
Chains are mixed today. Only top 50 chains red on all three timelines (daily, weekly, monthly) are Hyperliquid L1 (#16), and zkSync Era (#39).
Protocols are also mixed today. Only top 50 chains red on all three timelines (daily, weekly, monthly) are Sanctum (#33), Usual (#47), and Hashnote USYC (#49).
Here’s The Top 12 Fastest-Growing Chains By TVL On The Weekly With At Least $1M TVL (from @DefiLlama):
Here’s The Top 12 Fastest-Growing Protocols By TVL On The Weekly With At Least $1M 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 @fanappX. Twitter bio states “Create fun spaces & trade on @HyperliquidX.” Followed by 17 of our mutuals. h/t @twindoges:
-New project called @GoHodl. Twitter bio states “Track, trade with real-time market chat, AI insights, and one-tap execution.” Followed by 12 of our mutuals. h/t @twindoges:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (single-exposure, no-IL, $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
-Very interesting update on the ‘Coinbase Discount/Premium’ showing that Bitcoin has been trading with a Coinbase Discount as of late, h/t @DaanCrypto:
-Much focus on stocks right now as the S&P 500 is down about 10%, h/t @WarrenPies:
-Big story that Coinbase is reportedly in advanced talks to buy Deribit, h/t @JasonYanowitz:
-Fidelity to launch competitor to BlackRock’s on-chain BUIDL Fund, as the ‘stablecoin gold rush’ continues, h/t @alpha_pls:
-ETH and its L2’s currently hold over 80% of RWA market share and are still leading on a number of other metrics as well, h/t @TheDeFinvestor and @dunleavy89:
-Much attention and praise for the lifting of sanctions on Tornado Cash yesterday, example h/t @dgt10011 and @zerohedge:
-Lots of talk about Sonic on the TL, example c/o @Route2FI below:
-Also seeing lots of stuff about Zora on the TL, example h/t @coingecko:
-Does the ‘golden age’ begin in Q3? h/t @pythianism:
-Interesting panel discussion from ETHDenver that was only just posted, featuring @Dynamo_Patrick, @phtevenstrong, @capnjackbearow, @the_weso, and more:
-Important reminder from @hmalviya9 - “There are no shortcuts.” -
-New video of ‘Takeaways from DAS’ from @MikeIppolito_ and @JasonYanowitz:
-New edition of @0xSteadyLads:
-New weekly roll-up from @BanklessHQ:
-New edition of the All In Podcast:
-Newish @coinbureau video from a couple days ago we just saw on potential crypto IPO’s taking place in 2025:
-Parting wisdom from @ConejoCapital via @QuotableCrypto:
Conclusion
Happy Saturday and stay alert out there friends!
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.