Happy Wednesday and Happy Fed Day friends!
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: $1,929.20
Oil (WTI): $91.21
Stocks (from:@News4Moves):
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Take heed good degens… as you may already know, @magpiexyz_io have been building up a storm this year, and we are going to be helping spread the word about all their endeavors over the next couple months!
As background, @magpiexyz_io is a multi-chain defi ecosystem providing yield and veTokenomics boosting services, supporting well-respected and popular defi protocols like @pendle_fi, @WombatExchange, @RDNTCapital, and @CamelotDEX. You most likely know them through their Pendle-specific iteration @Penpiexyz_io!
In this Medium article, they explain the Magpie SubDAO Model:
Our SubDAO model signifies a groundbreaking initiative by Magpie to incubate new protocols that fortify veTokenomics-based protocols within the sprawling DeFi ecosystem. This initiative involves the birth of SubDAOs — sub-decentralized autonomous organizations — each crafted with a bespoke purpose and function that harmonizes with the parent protocol.
Make sure to follow Magpie on Twitter, and read the above Medium article in full by clicking the hyperlinked image below!
Biggest TVL Movers + Else
Chains are very green today. Top 50 chains up at least 15% on the weekly include Tron (#2), Pulse Chain (#16), Starknet (#34), Kujira (#43), and Neutron (#47).
Protocols are more mixed today. Top 100 protocols up at least 30% on the weekly include stUSDT (#11), Binance Staked ETH (#16), Tangible (#95), and Prisma Finance (#100).
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)
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:
September 19, 2023 chainEDGE - Today's Summary Slow day in terms of flows. New Smurf Cat, ICE and DMT all led the way with $40-70k of net buys for each token. Outflows were seen in BANANA, LINQ and RLB, though small in size. APX led the day in terms of new launch interest, with the token receiving $15k of net smart buys. 7 day flows were similar, with leading buy inflows in PRIME, Real Smurf Cat, RLB, DMT, ICE and BANANA. Some degen new coins with $30k of smart holdings include Frengate, Prophet, BANANA, Real Smurf Cat, SHIA, New PEPE, Newsly and OCD. Trader highlight of the day is 💎 sunshinesuicide.eth who made $17k in realized gains on BANANA.
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 crypto/AI project called @fairAIprotocol. Twitter bio states “Fair is the first decentralised marketplace, powered by Arweave, where creators of open-source AI models can monetise their work while users retain ownership.”
-New trading bot project called @snakeboteth. No Twitter bio.
-Something new called @BastionPlatform. Twitter bio states “Combining the best of web2 experiences with web3 infrastructure to expand possibilities for businesses and their customers.” h/t @twindoges:
-New project related to @friendtech called @FrenBond. Twitter bio states “1st Derivative Platform that let you trade on future #FriendTech keys value. Trade keys without owning it!” h/t @twindoges:
-New project called @VersusCasino. Twitter bio states “Where Fortune Favors the Brave ⚔️”.
Security Alerts
-@Balancer reported that its frontend was attacked yesterday:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama ($5M+ TVL, single-exposure and no-IL only) 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)
-Fed expected to keep rates unchanged at today’s FOMC meeting:
-Market expectations re: Fed and interest rates going forward:
-Variety of crypto headlines from @rektmando:
-Infamous defi developer @DanieleSesta is generating attention again with a new protocol launch:
-Metis launches a $5M ‘community growth campaign’:
-Arthur Hayes on China/$CNY:
-$sDAI coming to Curve lending market, h/t @smyyguy:
-Interesting tweet on Coinbase from @mrink0:
-New Michael Lewis book on SBF apparently coming out in October:
-@noahseidman on bond-market/crypto:
-Good thread on the infrastructure vs dApp’s debate from @chilla_ct:
-New macro livestream from yesterday on @RealVision between Tony Greer @TgMacro and @AshBennington ahead of the FOMC Meeting today:
-New project breakdown from @Ceazor7, of Tenet Protocol, a new defi-focused project/chain:
-Good new crypto video from @0xMughal:
-Parting wisdom from @takegreenpill c/o @QuotableCrypto:
Conclusion
Happy Wednesday friends! Stay alert out there with Powell on the prowl today! :)
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.