Happy Wednesday friends! Lots of excitement on the TL!
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: $2.43T
Gold: $2698.80
Oil (WTI): $70.89
US 10Y Treasury: 4.016%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Extremely cool new update from @vertex_protocol! Election markets are now live!
Users can now bet on the outcome of the 2024 US Presidential Election and trade the likelihood of Trump vs Harris winning!
“Trading Outcome tokens on Vertex is similar to trading spot assets but with a focus on predicting election outcomes. If the TRUMP token is priced at $0.55, the market predicts a 55% chance Trump wins. If HARRIS is at $0.44, it implies a 44% chance Harris takes it….
If your candidate wins, each TRUMP or HARRIS token can be redeemed for 1 USDC once the election results are finalized…”
And- as always- Vertex currently offers over 50 different perps and spot markets with an experience just as smooth as any centralized exchange, utilizing a state of the art cross-chain liquidity infrastructure via their Edge system @EdgeLayer, so make sure to visit the Vertex site at app.vertexprotocol.com, and follow them on Twitter for more updates!
Biggest TVL Movers + Else
Chains are mostly green again today. Biggest gainers on the weekly among chains with at least $20M TVL are Bitcoin (though again this might be a data error), Scroll, and Kala.
Protocols are also quite green. Biggest gainers on the weekly among protocols with at least $20M TVL are multichain derivatives protocol Contango, restaked BTC protocol Lorenzo Protocol, and uncategorized multichain protocol SOLV Protocol.
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 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 we also include or re-include every newly launched protocol added by @DefiLlama that has at least some TVL or is followed by at least some of our mutuals - hence disclaimer: these are not pre-vetted by us so make sure to DYOR!)
-New project called @kyofinance. Twitter bio states “Soneium Spark Winner 🏆 The Most Innovative Liquidity Hub on @soneium 💿 Seamless Vote-Escrow and User-Friendly Experience Kyo Mainstream with Soneium”. Followed by 3 of our mutuals. h/t @AresLabs_xyz:
-New project called @Macaron_Finance. Twitter bio states “Unlock the power of 300% leveraged farming with Macaron to maximize the yield potential of your ETH and USDC, all within the @soneium ecosystem.” Followed by 3 of our mutuals. h/t @AresLabs_xyz:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $1M+ TVL) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Security Alerts
-No security alerts today.
Important News And Analysis
(key news, twitter threads, articles, videos, etc from last 24 hours)
-Important reminder that despite burgeoning excitement around memecoins and AI, Bitcoin dominance is still at multi-year high’s, h/t @TheDeFinvestor:
-”AI-cult memecoin” $GOAT/@truth_terminal is still dominating memecoin price action, h/t @Tyler_Did_It:
-Increasing discussion + headlines relating to GOAT/@truth_terminal as well, h/t @DegenerateNews:
-Thoughts on the above from @alpha_pls:
-News rundown from the gents at @blocmatesnews:
-More headlines from @0xSalazar:
-Hyperliquid airdrop geofencing continues to generate discussion, h/t @basedkarbon:
-Top 10 crypto projects by 30-day TVL growth, h/t @CryptoRank_io:
-Interesting macro stat re: Canada from @QwQiao:
-Interesting speculation re: Tesla/Bitcoin news, h/t @BitcoinPierre:
-Longform tweet of airdrop alfa from @KryptoCove (click to read in full):
-New @Unchained_pod interview with @Arthur0x and @gametheorizing:
-New video on Base defi ecosystem/opportunities from @Dynamo_Patrick:
-New overview of EigenLayer and $EIGEN from the @coinbureau channel:
-New interview with @santiagoroel from @JackNeiwold:
-Parting sentiments c/o @crypthoem:
Conclusion
Happy Tuesday friends! Enjoy the positive price action!!!
And please RT/subscribe/etc if you found this valuable!
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Note
Important new article from the team at @silentdao_ as they continue to develop their revolutionary on-chain privacy architecture!
The new article:
“...delves into alternative strategies for mitigating illicit activity within privacy-focused ecosystems and explores the intricate cryptographic mechanisms underpinning the Silent Compliance VM.”
This compliance variable is one of the most fascinating (and challenging) aspects of what Silent is attempting to build, so make sure to check out the article by clicking here now.
And once again, our editor @rektdiomedes is helping bang the drum about everything Silent has been building, so make sure to follow them on Twitter for more updates!
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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.