Happy Wednesday friends! The nascent bull market energy continues to dial up!
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: $3.46T
QQQ (Nasdaq 100): $518.12
Gold: $3,182.40
Oil (WTI): $63.23
US 10Y Treasury: 4.507%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
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Access the vault by clicking here, and make sure to follow Upshift on Twitter for more updates!
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Biggest TVL Movers + Other Interesting Data
Chains are quite green today, with 46 of the top 50 chains green on the weekly.
Protocols are quite green today as well, with 87 of the top 100 protocols being green on the weekly.
Here’s The Top 12 Best-Performing Chains By TVL On The Weekly With At Least $100M TVL: (from @DefiLlama):
Here’s The Top 12 Best-Performing Protocols By TVL On The Weekly With At Least $100M TVL: (from @DefiLlama):
Here’s The Top Entities By 24 Hour Token-Holders’ Revenue (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 @StatusL2. Twitter bio states “the first natively gasless L2 with sustainable funding for app builders 🐉 part of the @ethstatus ecosystem”. Followed by 2 of our mutuals. h/t @AresLabs_xyz and @0xcyp:
-New project called @DeployFinance. Twitter bio states “The future of banking is self-custodial. Grow, invest, and spend your crypto — all in one place. Fully yours.” Followed by 5 of our mutuals. h/t @AresLabs_xyz and @MrBenLilly:
-Something new called @polldotfun. Twitter bio states “Bet on anything using Apple Pay and iMessage. Backed by @alliancedao.” Followed by 7 of our mutuals. h/t @AresLabs_xyz and @ZheSolworks:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $1M+ TVL only) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Important News And Analysis
-Market continues rising but funding rates aren’t going crazy yet, h/t @DaanCrypto:
-The “Internet Capital Markets” meta and @believeapp continue to dominate attention today, h/t @DynamoDefi:
-Much skepticism about the aforementioned “ICM Meta” on the TL but also much defense of it, good example of the latter from @QwQiao:
-There is apparently a proposal for Synthetix to buy options protocol Derive, via $SNX/Synethix tokens… this is generating intense debate today, with thoughts on it ranging from slightly negative to extremely negative as far as we can tell… good example of the latter from @DeFi_Made_Here and the former from @litocoen in case you want to jump in and do more research on it:
-@0xSoulProtocol has joined Kaito, h/t @MingoAirdrop:
-Also excitement re: Kaito x @virtuals_io, h/t @DidiTrading:
-A snapshop for @ethos_network airdrop has been taken as well, with top 256 participants earning special NFT’s, h/t @0xJohannes_:
-Positive update for Sonic re: USDC/CCTP, h/t @Cryptoyieldinfo:
-There is serious talk taking place about instituting pre-funded IRA’s (tax-advantaged retirement accounts) for babies in the US (if you needed further proof that the stock market going perpetually upwards is now a core pillar of American governance):
-Much focus on the topic of wallets today, with the below tweets from @DoveyWan about Binance Wallet generating some interesting discussion:
-Security alert from Polygon founder Sandeep Nailwal on social engineering attacks using deepfakes:
-New interview with macro gigabrain @LukeGromen from @fejau_inc at Blockworks:
-New interview from @Lightspeedpodhq with 1Inch co-founder @deacix on their new launch on Solana and embrace of the SVM:
-Interesting new macro + crypto discussion between Tony Greer and Raoul Pal:
-Parting wisdom from @AltcoinPsycho:
Conclusion
Happy Wednesday friends! Stay alert out there!
And please RT/subscribe/etc if you found this valuable!
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Note
Things could not be going more bullishly for @maplefinance as of late!!!
-After an insanely bullish Q1, they have now surged up to $1.6B in TVL/AUM…
-They just made an important expansion into the APAC region…
-Their work with @Coredao_org and with Bitwise and with other well-respected partners is garnering much attention…
-They have an absolutely MASSIVE rewards campaign going on for $syrupUSDC depositors…
-And… finally… Maple co-founder @syrupsid just spoke in DC at the SEC crypto roundtable chaired by Hester Pierce! (see below!)
Learn more in the tweets below, make sure to follow Maple on Twitter for more updates, and stay tuned as we continue highlighting everything they are doing!
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***Note On Material: The ‘Spotlight’ and ‘Note’ sections and info on our Official Sponsor 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.