The Daily Degen - November 12th, 2022

All of today's news/data/alerts...

Happy Saturday friends! If you thought the weekend might be quieter you were mistaken! :)

Stats/alerts/etc at top and tweets/news/links/videos/etc at bottom!

Market Update

Crypto:

Top Cryptocoins Ticker @TickerTop

1: Bitcoin price is $16786.94 (-0.04% 1h) 2: Ethereum price is $1261.98 (-0.09% 1h) 3: Tether price is $1.00 (-0.02% 1h) 4: BNB price is $287.33 (0.34% 1h) 5: USD Coin price is $1.00 (-0.01% 1h) 9: Dogecoin price is $0.09 (6.81% 1h)

Note: Our beloved @cryptobubbles24 hasn’t posted a new bubble map for several days, so we aren’t including it today. If you know of another good similar account please dm us!

Gold: $1,771.30

Oil (WTI): $88.96

Stocks:

woodstock.club | SNS型投資アプリ @woodstockclub

🇺🇸Market Recap(変動率)🇺🇸 🈯ETF $VOO (S&P 500): +0.957% 📈 $DIA (Dow Jones): +0.157% 📈 $QQQ (Nasdaq 100): +1.843% 📈 💲GAFAM終値 $GOOGL: +2.629% 📈 $AMZN: +4.413% 📈 $META: +1.028% 📈 $AAPL: +1.927% 📈 $MSFT: +1.7% 📈 🔐暗号資産 $BTC: -4.317% 📉 $ETH: -2.159% 📉

Biggest Price Movers

(From @coingecko top 500)

Up:

-Ecoin $ECOIN +166.7%

-BoringDAO [OLD] $BOR +66.2%

-Pundi X [OLD] $NPXS +35.3%

Down:

-Pylon Protocol $MINE -57.3%

-FTX $FTT -31.0%

-Poollotto.finance $PLT -28.1%

Spotlight

Our official sponsor for the month of November is @NestedFi, a cool new ‘social trading’ protocol that allows you to create portfolios and copy trade other portfolios across a variety of EVM chains! Here is some alfa their Twitter account posted in response to speculation about their coming airdrop:

Nested 🧩 @NestedFi

@Airdrop_Adv Here is how to optimize your rewards: 1. The deposit amount. The higher it is, the better. 2. The volume. The higher it is, the better. 3. The value of all the copies you got + the number of copies. The higher it is, the better. 4. The number of networks used. 1 epoch = 1 week.

Biggest TVL Movers

Chains are very red again. The only top 50 chain green on the daily is BSC at +3.46%. The only top 50 chain green on the weekly is Telos (#37) at +15.26%. A number of chains are slightly green on the monthly, including Osmosis (#14), Algorand (#16), Canto (#22), Acala (#31), Telos (#37), Tezos (#40), and OKExChain (#44).

Protocols are mostly red as well. Some notable exceptions include Quickswap (#36) at +14.62% on the daily, Pando (#39) at +74.28% on the daily, Idle Finance (#60) at +33.85% on the weekly, and Morpho (#63) at +55.60% on the weekly.

Here’s The Top 12 Chains By TVL (from @DefiLlama):

Here’s The Top 12 Protocols By TVL (from @DefiLlama):

Other Data Points

Bitcoin Fear/Greed Index:

(from @BitcoinFear)

Bitcoin Fear and Greed Index @BitcoinFear

Bitcoin Fear and Greed Index is 21 — Extreme Fear Current price: $16,942

Ethereum Fear/Greed Index:

(from @EthereumFear)

Ethereum Fear and Greed Index @EthereumFear

Ethereum Fear and Greed Index is 31 - Fear Current price: $1,276 opensea.io/assets/0x7fa81… etherscan.io/token/0x7fa813…

New Protocols

(note: this includes new protocols we find through combing Twitter each day, and we also include every (newly launched) protocol added by @defillama and @debank (excluding Tomb forks/reflection tokens/etc) - hence disclaimer: these are not pre-vetted by us so make sure to DYOR!)

-New protocol called @bsc_bets. Twitter bio states “BSCBETS is a betting platform created for Qatar World Cup fans, where anyone can earn money by guessing match results…” (h/t @ApeOClock)

-Previously-mentioned protocol @magpiexyz_io has been added to @DefiLlama. Again, Twitter bio states “A DeFi yield-boosting platform on #BNB Chain”.

Magpie XYZ @magpiexyz_io

Non-stop building Magpies!😃 Night mode has arrived!🌙 We know that many users like the dark side!😂 Now you can enjoy the new "Night Mode" version of the platform!🤩 #MagpieArmy⚔️ Check it out👇 magpiexyz.io/stake #BNBCHAIN #BNB

-New protocol called @memefinances. Twitter bio states “Borrow ETH for alt/meme coins as collateral.” Description from @EricCryptoman below:

Eric Cryptoman🧪 @EricCryptoman

$MEFI is the $AAVE for meme coins Absolute degeneracy, but lets not pretend it won't get used. Genius idea from @memefinances team and the tokenomics are perfect, sharing profits wit holders. This will be a sender.

Top Stablecoin Yields

(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, minimum $1M+ TVL) and @stable_fish - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)

Other News And Analysis

(key news, twitter threads, articles, videos, etc from last 24 hours)

-FTX has apparently been hacked:

foobar @0xfoobar

Hundreds of millions of dollars are now flowing out of FTX wallets, some speculate liquidators but it's late on a friday night, not typical times for such rapid heavy movements. Some withdrawals are being swapped from Tether to DAI. Hack or insider actions? $26 million here

0xTre @0xTre

Official: FTX has been hacked. Source: admin of FTX Community Chat

Lookonchain @lookonchain

The hacker is exchanging all his assets for DAI and ETH, which cannot be frozen. He has acquired $189M of ETH and DAI. We counted the assets that the hacker's wallets has not sold yet. Including: 23M $MATIC($22M) 73,350 $BNB($20M) 52.9M $SRM($18.6M) 2.6M $LINK($16.5M) ...👇

Aylo @alpha_pls

FTX no longer have any $LINK The hacker sold the entire balance of 3.59M that was in the original FTX wallet. $LINK absorbed the selling pretty well.

-Earlier in the day, FTX, FTX US, and affiliated entities filed for bankruptcy, and @SBF_FTX apparently resigned as CEO:

SBF @SBF_FTX

1) Hi all: Today, I filed FTX, FTX US, and Alameda for voluntary Chapter 11 proceedings in the US.

Blockworks @Blockworks_

134 of FTX's firms filed for bankruptcy: 1. Alameda Aus Pty Ltd 2. Alameda Global Services Ltd. 3. Alameda Research (Bahamas) Ltd 4. Alameda Research Holdings Inc. 5. Alameda Research KK 6. Alameda Research LLC 7. Alameda Research Ltd 8. Alameda Research Pte Ltd

Watcher.Guru @WatcherGuru

BREAKING: Sam Bankman-Fried has resigned as CEO of FTX.

-Contagion reports starting to trickle in, albeit slowly:

Autism Capital 🧩 @AutismCapital

Fresh off the press. Galois Capital has $100M stuck on FTX. 50% of total holdings.

ft.comSubscribe to read | Financial TimesNews, analysis and comment from the Financial Times, the worldʼs leading global business publication

Bobby Ong @bobbyong

2. Sophisticated users also bore heavy losses here. Many VCs, trading firms, and crypto projects held funds on FTX. Losses range from 5-100%. The contagion will be massive. No one knows yet who is insolvent. Expect a lot of firms to say they are fine soon. They could be lying.

-Sentiments:

219.eth @219_eth

I know I've been saying this a lot, but this right here may be the craziest shit Ive ever seen

CZ 🔶 Binance @cz_binance

What a sh!t show... And it's going to be crypto's fault, (instead of one guy's fault)...

Erik Voorhees @ErikVoorhees

No, this isn't crypto's "Lehman Moment" There are no taxpayer bailouts coming nor money to be printed. This is capitalism, and the markets will work it out.

-China apparently re-opening:

Sofia Horta e Costa @SofiaHCBBG

Fine tuning. China cuts quarantine for inbound travelers and scraps flight bans - a significant calibration of Covid Zero. Top leadership also tweaks its language around the policy, highlighting the need to minimize its impact on people’s lives. 2/10

bloomberg.comBloomberg - Are you a robot?

zerohedge @zerohedge

Commodities Soar After China Eases Quarantine Rules

zerohedge.comCommodities Soar After China Eases Quarantine Rules“Bulls have been waiting for such a trigger ... these events may be enough to wash out all the bears and set up a strong and sustained rally.”

-Blockfi update:

foobar @0xfoobar

Looks like BlockFi is completely dead. Internal Slack deactivated, people tell me they stored almost all customer deposits on FTX https://t.co/Q4r7tpg723

-Grayscale Bitcoin Trust hits all-time low vs spot:

Dylan LeClair 🟠 @DylanLeClair_

All time low percentage discount for $GBTC at -43%. Cost equivalent of $9,666 per bitcoin. Indicitave of the current institutional interest amongst legacy market participants.

-@OuroborosCap8 thoughts:

Ouroboros Capital @OuroborosCap8

Wouldn't be surprised if we test $1K $ETH next week. - Yes, dovish CPI but macro catalyst void next week - FTX contagion yet to play out - Redemptions over the next few months - Short liquidation cluster too far away - Most shorts covered - Funding rather balanced

-@cobie and @ErikVoorhees appeared on the Unchained Podcast with @laurashin today:

-Another great interview summary from @ReveloIntel:

Revelo Intel @ReveloIntel

How is @fraxfinance preparing for the future of crypto??? In @theBlockcrunch ep.219 @mrjasonchoi & Darryl Wang @0xWangarian of @tangent_xyz welcome $FRAX founder @samkazemian to discuss $frxETH, 0-1 innovation in DeFi, the future of stablecoins, & more. Read our notes below 👇

-Interesting thread from @0xdoug:

Doug Colkitt (🐊,🐊) @0xdoug

1/ Very rough and speculative sketch of what I increasingly think happened at FTX as more info comes out… The central question is where did the money go? Yes malfeasance and fraud is necessary, but at one point in the cycle cash actually has to go out the door

-@DefiLlama releases new CEX transparency dashboard:

DefiLlama.com @DefiLlama

We just released a new CEX transparency dashboard, listing for each CEX: - TVL of user deposits in CEX - Liability audits, along with auditor and date We hope this can drive the industry forward by putting a spotlight on transparency defillama.com/cexs

-@blockbytescom released a new roundtable discussion featuring @austin_bbytes, @crypto_klay, @nickdrakon, and other guests:

-@noahseidman released an excellent stream discussing the ongoing insanity:

-Parting thoughts from @QwQiao:

Qiao Wang (👽, 👽) @QwQiao

If you are emotionally calm, have not lost a tiny bit of confidence, and are doing business as usual today, you are outperforming 90% of people in the industry.

Conclusion

Have a good Saturday friends. Stay alert and don’t forget to touch some grass!

And please RT/follow/etc if you found this helpful! :)

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