Happy Sunday friends! The nascent bull market is starting to percolate! :)
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: $3.48T
QQQ (Nasdaq 100): $521.51
Gold: $3,201.70
Oil (WTI): $62.49
US 10Y Treasury: 4.445%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Huge announcement from our Official Sponsor @upshift_fi - who just unveiled a massively bullish new partnership with Injective that will provide an insane stablecoin yield opportunity for the defi-verse!!!
As detailed in their new thread:
“We're excited to announce our latest collaboration, launching an RWA DeFi vault with @injective:
> target APY of 30% on USDT
> running a market-making strategy for tokenized RWAs on @HelixApp_
> curated by DeFi yield fund @Mnncgroup
What are the rewards for the INJ pre-deposit vault?
- USDT Deposits initially capped at $5m
- Liquid yield generated from market-making on @HelixApp_
- Early depositors earn 5x Upshift points
- INJ rewards distributed at a target APY of 30% (redeemed in USDT)
- Earn 1 point for every 10 points earned by your referrals…”
Once again - this vault targets a 30% yield on $USDT! Keep a close eye on its availability as caps are raised AND access other Upshift vaults with equally mouth-watering yields by visiting the Upshift site here! And make sure to follow Upshift on Twitter for ongoing updates as well!
Biggest TVL Movers + Other Interesting Data
Chains are mixed today. Fastest-growing chains by TVL on the weekly with at least $1M TVL are Plume Mainnet, Mode, Neo, Initia, and Lisk.
Protocols are quite green today. Fastest-growing protocols by TVL on the weekly with at least $1M TVL are uncategorized Sui/Aptos protocol BlueMove, uncategorized multichain protocol Tangible, uncategorized Starknet protocol MySwap, uncategorized Sui protocol Aftermath Finance, and uncategorized ETH/Arbitrum protocol Notional.
Here’s The Top 12 Chains By TVL: (from @DefiLlama):
Here’s The Top 12 Protocols By TVL: (from @DefiLlama):
Here’s The Top Entities By 24 Hour Fee Generation (from @DefiLlama):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
Altcoin Season Index: (from coinglass(dot)com) (note: alts are doing much better over the last month but will need to keep up momentum a bit longer before below chart starts to shift:
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 @luckio. Twitter bio states “Gambling reimagined. A trust-free degen paradise: provably fair slots, wins instantly settled to your wallet.” Followed by 17 of our mutuals. h/t @blknoiz06:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $5M+ TVL only) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Important News And Analysis
-Bitcoin-dominance still sky-high despite the recent bid in alts, h/t @DaanCrypto:
-US stock indices are up dramatically (Nasdaq 100 is up 25%) from the lows in April, when tradfi-curmudgeons were Burry-LARPing all over the TL calling for a 1929-style crash, and wise voices encouraged buying the dip :) h/t @charliebilello:
-Relatively quiet week in terms of macro schedule, h/t @KobeissiLetter:
-Avalanche Summit coming up this week in London, and MetaMask expansion to Solana continues to generate attention, h/t headlines from @TheDeFinvestor:
-$ETH chart looking bullish? h/t @AndreasSteno:
-Virtuals mindshare has seen a major rebound, h/t @sandraaleow:
-$TAO/Bittensor subnet 14 @TAOHash continues to generate attention for its Bitcoin-mining activities, h/t @0xSynthesis1:
-Ongoing debate about Kaito as its influence over the crypto space and CT continues to grow, h/t @0xNarb:
-AI updates from @0xPrismatic (this is a condensed version of the full newsletter - access it via his tweets below):
-Extremely in-depth and fascinating article on the future of robotics and how to benefit as an investor from @Citrini7 - link in quote-tweeted tweet below or click here to read it directly (note: half of it is behind a paywall but the free half is extremely worth reading by itself):
-Interesting list of potential dex improvements that existing dex’s could benefit from, from @yugoviking:
-Weekly macro overview from Joseph Wang @FedGuy12:
-New macro interview with aforementioned @Citrini7 from @fejau_inc on Blockworks:
-New interview with Virtuals co-founder @Jansen Teng @ethermage from the @coinbureau channel:
-New interview with Jeff Park @dgt10011 from Bitwise on Bitcoin, crypto, macro, and etc:
-“Realize some profits… There’s nothing cool about roundtripping" - parting wisdom c/o @DidiTrading:
Conclusion
Happy Sunday friends! Have a great day and make sure to rest up for the big week ahead of us! :)
And please RT/subscribe/etc if you found this valuable!
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Note
Huge things are happening with @vertex_protocol as our beloved brypto markets start to heat back up!
They just wrapped up another huge round of rewards for $SEI-traders…
They just extended their Season Two $AVAX Rewards for another week…
Their omnichain liquidity system Vertex Edge is currently ranked #4 overall among all perps providers for 7-day perps volume on @DefiLlama…
They are doing an absolutely MASSIVE amount of $VRTX-buybacks…
And they are aiming to be on 25+ EVM chains by the end of 2025!
Visit the Vertex site now to get started trading 60+ perps and spot markets, and stay tuned as we continue shining a light on everything they are doing!
And check out the great video below of Vertex co-founder @DariusTabai meeting up with our friends at @Blocmatesdotcom in Vienna earlier this month!
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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.