Happy Tuesday friends! Lots of stuff going on!
Let’s dive in!
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 @CryptoBubbles24):
Gold: $1,863.10
Oil (WTI): $86.06
Stocks (from:@News4Moves):
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
The DEX vs CEX wars continue, and @HMXorg is helping take the lead in the paradigm shift to on-chain trading!
HMX's Tokenomics are crafted to create a powerful flywheel effect where traders are rewarded with effective incentivization strategies (like the "Trader’s Loyalty Credit" and emission rewards!), and long-term holding by investors is encouraged via the one-year escrowed $esHMX and the accumulation of Dragon Points ($DP), which gradually increase the share of staking rewards for $esHMX and $HMX stakers…
Benefiting from re-hypothecated liquidity courtesy of GMX's GLP, users can also take advantage of reduced trading fees, particularly when compared to other LP-based perpetual DEXes (0.04% for ETH & BTC)!
We are helping spread the good word about what HMX has been building, so make sure to follow them on Twitter and check out the excellent thread on their tokenomics below!
Biggest TVL Movers + Else
Chains are mostly red today. Only top 30 chains green on the weekly are Bitcoin (#12), Gnosis (#19), Rootstock (#22), EOS (#25), Tezos (#28), and Canto (#29).
Protocols are also quite red today. Only top 100 protocols green on all three timelines (daily, weekly, monthly) are stUSDT (#11), Spark (#22), Stargate (#24), Ondo Finance (#36), RealT (#61), MatrixDock (#65), and Enzyme Finance (#86).
Here’s The Top 12 Chains By TVL (from @DefiLlama):
Here’s The Top 12 Protocols By TVL (from @DefiLlama):
Here’s The Top 12 Dex’s By 7 Day Volume (from @DefiLlama):
Other Data Points
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
Ethereum Fear And Greed Index
(from @EthereumFear):
Fee Generation (from cryptofees(dot)info):
New Protocols
(note: this includes new defi protocols we find through combing Twitter each day, and we also include every (newly launched) protocol added by @DefiLlama - hence disclaimer: these are not pre-vetted by us so make sure to DYOR!)
-Something new called @bribetech. Twitter bio states “ultra secret highly confidential project - coming soon”. h/t @AresLabs_xyz:
-Another rather ambiguous new project, called @splurgefinance. Twitter bio states “secure, decentralized, and automated investing/trading vaults for any token on any AMM. built by actual traders.” h/t @AresLabs_xyz:
-Something new called @Podium_top. Twitter bio states “Best-in-class tools for the top NFT fantasy sports platforms. Our products: @SorareData , @ReignMetrics”. h/t @thealphadigest:
-Something new called @Toad_Swap. Twitter bio states “Hop into the future of decentralized trading.” h/t @thealphadigest:
-Something new called @SolventNetwork. No Twitter bio. h/t @thealphadigest:
-New Ethereum re-staking protocol called @BionicProtocol. Twitter bio states “Ethereum-based protocol that implements restaking, which is a novel component in enhancing cryptoeconomic security.” h/t @thealphadigest:
-New Sui GambleFi project called @suilette. Twitter bio states “First roulette game on the SUI blockchain @SuiNetwork”. h/t @thealphadigest:
-Previously-mentioned Arbitrum perps dex @Blex_io has been added to @DefiLlama. Twitter bio states “Index Price-feed based Decentralized Perpetual Exchange. Know more about blex and community…”
Security Alerts
-Security alert from @PeckShieldAlert:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $1M+ TVL) and @stable_fish - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Important News And Analysis
(key news, twitter threads, articles, videos, etc from last 24 hours)
-$BTC still outperforming vast majority of asset classes for the year:
-Arbitrum voting continues, h/t updates from @Karamatta22 and @0xRamenUmai, posted chronologically below:
-Next Bitcoin halving approximately 200 days out, h/t @thescalpingpro:
-Ethereum foundation sells $2.76M in $ETH:
-Weekly unlocks data from @Token_Unlocks:
-Lot of attention on SBF trial as Caroline Ellison to take stand today:
-Q4 thoughts on stonks from resident permabull @RaoulGMI:
-Absolutely fascinating graph from @charliebillelo showing that the age 65+ demographic now accounts for the largest share of spending in the US as the Boomers age into retirement:
-New article from former Fed insider Joseph Wang @FedGuy12 arguing Fed is likely done hiking and may cut sooner than expected (click on image on tweet to access article - Twitter appears to be experimenting with a new ux tweak):
-MetaMask still generating average weekly revenue of $700k, with 81.5% coming from ETH Mainnet, according to interesting long-form post from @poopmandefi (click to read rest of tweet):
-Positive sentiments c/o @cburniske:
-Fatalistic bullishness from @basedkarbon:
-Overview of notable current crypto news stories from @coinbureau:
-Excellent new crypto/macro livestream from @noahseidman:
-New Leviathan News interview with @0xSami from @redactedcartel:
-Parting wisdom from @heartereum:
Conclusion
Happy Tuesday good frogs!
And please RT/subscribe/etc if you found this valuable! :)
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Note
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***Note On Material: The ‘Spotlight’ and ‘Note’ sections and info on our Official Monthly 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.