Happy Friday and Happy September dear degens!
Let’s dive in!
Stats/alerts/etc at top and tweets/news/links/videos/etc at bottom!
[Note: As always all tweets are hyperlinked so just click on them to pull them up on Twitter!]
Market Update
Crypto (from @CryptoBubbles24):
Gold: $1,941.40
Oil (WTI): $83.95
Stocks (from:@News4Moves):
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
@StructFinance is a very cool new protocol we are helping bang the drum about that is unlocking gigabrain structured finance products for defi users to use to maximize their risk-adjusted yields, currently on Avalanche…
They just released an extremely well-written new Medium article we highly recommend reading in full!
Here’s a sample from it below:
Drawing from traditional structured finance principles, they’ve woven a fabric that enhances both Trader Joe’s and GMX’s offerings. By tranching their yield-bearing assets, Struct Finance not only increases the depth of liquidity but also introduces layers of flexibility, risk transformation, and security previously unseen in the DeFi space.
Make sure to follow the Struct Twitter account for more updates, and check out the excellent thread on them below from our friend @JiraiyaReal!
Biggest TVL Movers + Else
Chains are mostly red today, except for Base (now #9 by TVL). Top 50 chains down at least 25% on the monthly include Klaytn (#19), Fantom (#28), Parallel (#44), Polygon zkEvm (#46), and Stacks (#48).
Protocols are very red today. Only top 100 protocols green on all three timelines (daily, weekly, monthly) are stUSDT (#15), Venus (#18), dYdX (#28), RealT (#64), and Silo (#94).
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):
Degen Alfa
(Exclusive data/information from our Official Sponsor @ChainEDGE_io - sign up today by clicking here!)
-24 Hour Smart Money Inflows/Outflows
-24 Hour Smart Money Summary From @OnChainWizard:
August 31, 2023 chainEDGE - Today's Summary Today's leaders were GMBL (new launch via LBP), RLB, BITCOIN, GRAIL, JOE and SHIA. In terms of new launches, Emoti led the way with $20k of inflows. For stealth money, we noticed $15k of inflows into PLANET and $25k of buys for UNIBOT. SHIA continues to be a smart money favorite, with $1.3mm of smart money holdings across 27 wallets. For newer coins, some notable smart money holdings include: $33k holdings on PUTE (an AI protocol), $35k holding BlockBrowser, $58k of BB holdings, $76k holding SHARES, $111k holding AXE and $177k holding HOUSE. Most new launches continue to die very quickly, and we've seen higher inflows going into more "real" projects. We did notice a lot of buys on newer token SHEPE, receiving $31k of buys over the last 12 hours (and no sells). Today's trader spotlight is New Launch Pro 0x00d, who made $278k of realized gains on LINQ.
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!)
-New project called @zenitprotocol. Twitter bio states “First enhanced NFT accelerated leverage-yield Platform on @BuildOnBase”.
-Something new called @PaalMind. Twitter bio states “Powerful AI ecosystem built using Custom Data Feed and LLMs. Personalize your AI & share across all social platforms. 0x14fee680690900ba0cccfc76ad70fd1b95d10e16”. h/t @Trader_XO:
-New protocol called @WarpDex. No Twitter bio. h/t @twindoges:
-New project called @ethfollowpr. Twitter bio states “It's about who you know. 😎 Coming soon.” h/t @dr3a_eth via @twindoges:
-New project called @Draftshares. Twitter bio states “Onchain Fantasy Football, inspired by @friendtech LIVE NOW… on Base”. h/t @twindoges:
-New project called @frenalpha_. Twitter bio states “Our goal is to provide you the best alpha on friendtech for a minimal price. Fren Bot and $FREN coming soon on Base.” h/t @ApeOClock:
-New dex on Base called @andromeada_ has been added to @DefiLlama. Twitter bio states “A ve(3,3) DEX with built in incentives, deployed on Base”.
-Another new dex on Base called @stablebasefi has been added to @DefiLlama. Twitter bio states “Trade Stables with the Lowest Fees 💲 - 1st Stable Swap AMM on #Base - Ultra Low Slippage | Maximize Stable Yields 🚄 💱 - Earn Stables with $SBASE 💰”.
-New farm on Shibarium called @shibfi has been added to @DefiLlama. Description states “AMM on Shibarium”.
-Previously-mentioned @PrismaFi. Again, Twitter bio states “The end game for liquid staking tokens. A non-custodial and decentralized Ethereum LST-backed stablecoin. Coming soon.”.
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (all types, $5M+ 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)
-Market retraced all its post-Grayscale gains yesterday:
-SEC delays Spot Bitcoin ETF applications:
-@aerodromefi hits $160M TVL in its second day live on Base, h/t @Hercules_Defi (Update: now over $200M at time of publishing this):
-Coinbase to list PayPal stablecoin:
-TL looking bearish, sample from @CoinGurruu:
-August only saw $17.09M in exploits, according to @PeckShieldAlert:
-Basically all asset classes performed poorly in August, h/t @Callum_Thomas:
-Trading volume at extreme lows, h/t @coinanalyzetool:
-Interesting chart of $ADA, $DOT, $AVAX, and $SOL vs $BTC from @intocryptoverse:
-Extremely good thread from @stephendpalley:
-New livestream from @blockbytescom going over all the top stories in defi, featuring @MasonCorval, @0xBebis_, and @frwrdslosh:
-Some ticker-flagging from @Prithvir12:
-Interesting mainstream perspective from @coinbureau discussing some of the larger alts:
-Parting wisdom from @SatoshiFlipper and @Route2Fi:
Conclusion
Happy Friday degens! Let’s make September count!
And please RT/subscribe/etc if you found this valuable! :)
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***Note On Material: The ‘Spotlight’ section 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.