Happy Sunday good degens! Tradfi markets closed but crypto never sleeps!
Let’s dive in!
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: $2.793T
Gold: $2917.70
Oil (WTI): $67.04
US 10Y Treasury: 4.305%
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!
Indeed, 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 mostly red yet again. Top 40 chains down more than 10% on the weekly include Sui (#9), Pulsechain (#26), Taiko (#28), Linea (#33), ZKsync Era (#34), Near (#36), Merlin (#39), and Hedera (#40).
Protocols are also mostly red today. Top 80 protocols down more than 10% on the weekly include Binance Staked ETH (#40), Meteora (#45), CIAN Protocol (#52), and Swell (#71).
Here’s The Top 12 Best-Performing Chains By TVL On The Weekly With At Least $50M TVL (from @DefiLlama):
Here’s The Top 12 Best-Performing Protocols By TVL On The Weekly With At Least $50M TVL (from @DefiLlama):
Here’s The Top Entities By 24 Hour Fee Generation (from @DefiLlama):
Here’s The Top 12 Chains By 7 Day Stablecoin Inflow % (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 @valtitudexyz. Twitter bio states “Providing tailored on chain solutions. The next-gen trading experience is coming soon on @HyperliquidX.” Followed by 5 of our mutuals. h/t @AresLabs_xyz:
-New project called @infinitedotdev. Twitter bio states “Embedded global payments | Backed by @YCombinator”. Followed by 11 of our mutuals. h/t @AresLabs_xyz and @nvs:
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
-Next CPI (inflation) report comes out this coming Wednesday, and next Fed interest rate decision will be the week after that, h/t @KobeissiLetter:
-Fascinating TA/data/analysis of stonks and Bitcoin from @DaanCrypto:
-Defi watchlist, h/t @TheDeFinvestor:
-There’s some type of big thing taking place with Compound and Morpho, h/t example tweet about it from @DeFi_Made_Here:
-All sorts of back and forth about the above-mentioned Compound/Morpho stuff today from a host of major defi players… example below featuring @lemiscate and @inkymaze:
-Of the top 100 tokens only 12 are green over the last 90 days, with BERA as the top performing, and IP another top winner, h/t @milesdeutscher:
-Lot of talk about Europe going towards a central bank digital currency:
-Also continued focus on very interesting comments from Scott Bessent this week, that “We are going to keep the USD the dominant reserve currency in the world, and we will use stablecoins to do that.” h/t @HodlMagoo:
-Much debate taking place right now about whether token buybacks are a good or bad thing and how best to do them:
-Lot of interesting tweets from @0xGeeGee about various alts and which ones might be cheap right now:
-Will this year be defined by deflation leading to money printing? h/t @LDNCryptoClub:
-New macro discussion from @Blockworks_ featuring @fejau_inc, @qthomp, and macro gigabrain Tony Greer:
-Is the crypto bull market over? From the @coinbureau channel:
-Scott Melker just released an interview with Aave founder @StaniKulechov:
-New video of top stablecoin yields from @phtevenstrong:
-New livestream on crypto markets as of Sunday afternoon from Digital Asset News:
-Parting sentiments from @LouisCooper_:
Conclusion
Have a great Sunday friends and stay hypervigilant out there!
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.