Happy Saturday friends! Quite a month its been!
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: $3.39T
QQQ (Nasdaq 100): $519.11
Gold: $3,313.10
Oil (WTI): $60.79
US 10Y Treasury: 4.398%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Beyond the absolutely exquisite yields that are available… another great reason to start using @upshift_fi- our Official Sponsor- is to start earning Upshift Points!
Doing so is quite simple…
First, you can deposit into any vault and begin earning points, and monitor them at app.upshift.finance/points.
Again - any vault will qualify - but some of the coolest ones are (in frog’s humble opinion) the Sylva Concentrated Liquidity Vault at 30% APY (gigabrain concentrated liquidy provisioning), the Mezo tBTC Vault (for yield on $BTC), and (our very favorite!) the Hyperbeat Ultra HYPE Vault which gives you massive + varied access to the HyperEVM ecosystem in terms of airdrops and etc!
Second, you can earn points via referrals as well… To do this, go to app.upshift.finance/referrals and grab your link, then use it to refer friends! You will receive 1 point for every 10 points they earn AND you will both receive a bonus of 1000 points when they make their first deposit!
Visit the Upshift site to get started, and learn more about Upshift via the two interviews below - one with co-founder @aya_kantor and one with co-founder @AElkrief!
Biggest TVL Movers + Other Interesting Data
Chains are mixed today. Best performing top 25 chain on the monthly is Hyperliquid L1 (#10) at +91.55%.
Protocols are also mixed today. Best performing top 50 protocol on the monthly is Maple Finance (#31) at +77.54%.
Here’s The Top 12 Best-Performing Chains By TVL On The Weekly With At Least $1M TVL: (from @DefiLlama):
Here’s The Top 12 Best-Performing Protocols By TVL On The Weekly With At Least $1M TVL: (from @DefiLlama):
Here’s The Top 10 Entities By 24 Hour Revenue 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 (and Bittensor subnet) called @bitsecai. Twitter bio states “An ecosystem for AI powered code vulnerability detection”. Followed by 11 of our mutuals. h/t @AresLabs_xyz and founder @yubrew:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $1M+ TVL only) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Important News And Analysis
-$BTC continuing to hang out in this 100-110k range, h/t @DaanCrypto:
-Altcoins continue to suffer, h/t @thedefivillain:
-Thoughts from Kaito-founder @Punk9277 on the $LOUD/@stayloudio launch after it dominated mindshare on CT the last two days:
-$BTC vs global M2 liquidity chart continues to be very popular, h/t @billbarX:
-Top-performing L1 tokens in May were $HYPE, $ETH, and $INJ, h/t @TheDeFinvestor:
-More and more mainstream and legacy news discussion of the prospect of AI causing significant job losses:
-Airdrop alfa from @0xGeeGee re: @FogoChain?
-Will the long-anticipated Rabby airdrop take place this year? h/t @0xJohannes_:
-Interesting Ethena x TON integrations, h/t @WuBlockchain:
-Seeing lots of tweets about the poor performance of $BERA/Berachain, example c/o @AzFlin:
-Interesting stat that the US currently leads in nation-state Bitcoin mining with 36% of hash rate, h/t @Cointelegraph:
-New discussion between @JasonYanowitz and @santiagoroel:
-New episode of TAO Talk from @Blocmatesdotcom:
-New interview with macro gigabrain @LukeGromen:
-New interview with @EmonMotamedi from @Lightspeedpodhq:
-New episode of tech podcast @tbpn (aired yesterday):
-“So here’s my advice: slow down, do your homework, and really understand what you’re getting into. If you want to stick around long-term, you’ve got to build your own conviction. There’s no shortcut.” - parting wisdom from @NPC_68:
Conclusion
Have a great Saturday and don’t forget to touch some grass this weekend friends!
And please RT/subscribe/etc if you found this valuable!
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Note
Take note good frogs! There are a ton of exciting things going on with @Mantle_Official right now!
This includes:
-Their new institutional-grade MI4 Fund in partnership with @Securatize…
-Their new HyperEVM integration into the mETH Protocol Bridge…
-The EXTREMELY cool new Mantle Banking initiative…
-Massive capital efficiency improvements leading to the ‘Mantle Flywheel’ detailed by @ahboyash below…
-And huge numbers in Q1 (read more about this in a report from @MessariCrypto by clicking here!)…
We are very proud to be helping bang the drum about everything Mantle is doing, so make sure to follow them on Twitter and stay tuned for more updates!
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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.