Happy Friday degens! 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: $1,925.90
Oil (WTI): $86.36
Stocks (from:@News4Moves):
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Our friends at @zkxprotocol just released a big announcement - ZKX Appchain!
As background, @zkxprotocol is a decentralized self-custody perpetual futures exchange on Starknet that we’ve been helping raise awareness about this year…
They detail the ZKX Appchain announcement in this new article. Here is a highlight below:
Throughout our building journey, our focus has always been building a trustless, permissionless, and decentralized architecture while delivering the performance of a CEX with the security of a DEX. Our move to ZKX Appchain represents the final piece to achieve that vision…
ZKX Appchain is an omnichain layer that connects users to our exchange across multiple L1s and rollups. As a result, you have a continuous flow of liquidity and interoperability, allowing us to deliver an elevated trading experience to you without chain limitations…
Make sure to follow ZKX on Twitter for more updates, and get a synopsis of the Appchain announcement in the thread below!
Biggest TVL Movers + Else
Chains are mostly green today. Fastest-growing chains on the weekly with at least $20M TVL are Gnosis, Base, and Pulse Chain.
Protocols are mostly green today as well. Fastest-growing protocols on the weekly with at least $10M TVL are Ethereum Mainnet CDP protocol Prisma Finance, Friend Tech, Binance Staked ETH, Ethereum Mainnet yield protocol Asymetrix Protocol, and multichain synthetics protocol Alchemix.
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:
September 07, 2023 chainEDGE - Today's Summary Inflow leaders over the last 24 hours include RLB, OX, BITCOIN, BLUI and GPEPE. FINE also saW aggressive smart money buying on a rumor that the token was backed by a former PEPE dev (which proved to be false). Today's outflows were driven by DORKL, SHIA, MOG, WINR and RDNT. Less than 1 week old tokens with 6 figure smart money holdings remain DORKL and SUPER. On a 7 day basis, PRIME remains the smart money favorite, with nearly $200k of swap inflows. New launch Fucktober also received smart money interest, with net swaps of ~$13k in the past 24 hours. RLB and UNIBOT remain the highest core holdings across our smart money cohort, with ~$4mm of holdings each, though PRIME is nearing the $1mm mark as well in this regard. Trader lowlight of the day is all of the smart money that got washed on FINE. It feels like a sign of the times that traders are chasing lower and lower quality launches, as the market in general starts to slow.
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 @StoryProtocol. Twitter bio states “Story Protocol is building open IP infrastructure to grow the creativity of the internet era.” h/t @jasonjzhao:
-New protocol called @_Astrofinance. Twitter bio states “A Defi protocol that provides easy access to cross-chain yield generating strategies - #Defi #Yield #staking”.
-New protocol called @tazz_finance. Twitter bio states “We contribute to TAZZ, a capital-efficient, non-custodial credit protocol.”
-Something called @toupeetech on Base. Twitter bio states “lost your last hair on $BALD? get a $WIG coordination system for ecosystem incentives on @buildonbase”. h/t @HFAresearch:
-Something called @LiqWrap. Twitter bio states “$LQW - Next Generation Decentralized Liquidity Protocol 💎”. h/t @CryptoNikyous:
-New trading bot project called @havoc_rip. Twitter bio states “$HAVOC | Multi - Wallet Sniping / Automated Profit Taking / Stop Loss / Anti-Rug / Enhance your game, Increase your profits, and reduce your losses. #ethereum”.
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)
-New US enforcement actions generated lots of attention yesterday:
-Yesterday saw price bounces as well as rumors about potential ETF approvals, summary from @thiccythot:
-Half of the top 20 protocols by fee generation are trading at less than an FDV/Fees ratio of 10, h/t @DeFiMann:
-US bank deposits have declined for five straight quarters:
-Summary of bullish news/catalysts the last few weeks from @WClementeIII:
-RWA (real world assets) TVL continuing to climb amidst bear market, h/t @Dynamo_Patrick:
-FTX update:
-Interesting tweet from “Fed Whisperer” @NickTimiraos referencing new dovish-sounding Chicago Fed research:
-@blknoiz06 on Coinbase $COIN:
-@astroport_fi announced a chain migration yesterday, thread on it from @redphonecrypto:
-Good interview with Trader Joe co-founder @cryptofishx from @2lambro:
-New livestream from @blockbytescom featuring @MasonCorval, @0xBebis, and co going over all the top stories in crypto:
-New macro interview with @jessefelder from Macro Voices:
-New video on the ‘Farms Of The Month’ for our yield-farming enthusiasts from @0xMughal:
-Parting wisdom from @godcomplex96:
Conclusion
Happy Friday good frogs!
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.