Happy Thursday and Happy Bitcoin 100k Day good degens!
Historic times we are witnessing!
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: $3.88T
Gold: $2648.10
Oil (WTI): $68.25
US 10Y Treasury: 4.197%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Take note friends!
@SynFuturesDefi is launching its $F token tomorrow, December 6!
”What the F is SynFutures?
Only the third-largest perp DEX by volume, trailing only Hyperliquid and Jupiter. SynFutures accounts for 10% of the total offchain derivative volume at any given time - and mind you, there are hundreds of perp protocols.
But on Base, SynFutures is king, accounting for over 80% of all derivative trading volume there.
Want to trade your favorite AI tokens with a healthy dose of leverage?
SynFutures launched the very first Perpetual Launchpad, enabling long-tail assets like memecoins and AI agents to be listed with leverage—no listing required.
In just two weeks of launching the Perpetual Launchpad, it hit $20M in TVL and clocked $200M+ in trading volume.
Did you say Base?
Yes, that Base. The chain that keeps breaking records for net inflows this month… and this year. The chain whose founder is meeting with Trump to talk crypto. The chain best positioned to onboard the most new users into crypto after the 2024 elections.
And SynFutures is positioned to capture all this influx of people (and value) flowing into the chain as their first perp dex experience.
So, what are they worth?
Numbers don’t lie. Current Valuations as of December 4:
Raydium: Solana’s top spot DEX / FDV of $2.8 billion.
Jupiter: Solana’s top perp DEX and spot aggregator / FDV of $11.7 billion.
Drift: A growing Solana perp DEX / FDV of $1.3 billion.
Aerodrome: Base’s largest spot DEX, / FDV of $2.2 billion.
Hyperliquid: Top perpetual DEX by volume. on its own chain / FDV of $9.3 billion
Even a $1B FDV for $F is a bargain, and stands to gain has compelling upsides.
$FAirdrop
Let’s break down what’s unlocked at TGE:
7.5% - Airdrop Season 1 (fully unlocked from day one).
3% - Initial liquidity on Gate.io and ByBit.
0.5% - Treasury allocation for protocol sustainability.
0.5% - Liquidity campaigns.
0.5% - Protocol development—because innovation doesn’t fund itself.
Backers and contributors? Locked for six months.
You, on the other hand, are free to $F up the market as you please.
Oh, and did we mention that holding the $F token gives you trading fee rebates on SynFutures?
You’re welcome.
Claim or secure your $F tokens here and F-around with SynFutures here.”
Note: This Spotlight is part of our partnership with @TailoredWeb3 from our friend @JiraiyaReal!
Biggest TVL Movers + Else
Chains are very green today. Chains with at least $100M TVL up at least 300% on the monthly include AILayer, Taiko, and Hedera.
Protocols are very green today too. Protocols with at least $100M TVL up at least 300% on the monthly include CIAN Protocol, Abacus, iZUMI Finance, and Folks Finance.
Here’s The Top 12 Fastest-Growing Chains By TVL On The Weekly With At Least $1M TVL (from @DefiLlama):
Here’s The Top 12 Fastest-Growing Protocols By TVL On The Weekly With At Least $1M TVL (from @DefiLlama):
Here’s The Top 12 Entities By 24 Hour Fee Generation (from @DefiLlama):
Chart Of The Day
(Courtesy of our Official Sponsor @vertex_protocol)
-SUI continues to outperform among L1’s anon! Do you think it is the SOL of this cycle or has this just been a temporary blip??? Express your view with either spot or leverage now with Vertex and access 50+ other markets as well at app.vertexprotocol.com!
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 @doublezero. Twitter bio states “Accelerating communication in high-performance distributed systems to Increase Bandwidth, Reduce Latency x by DoubleZero Foundation”. Followed by 76 of our mutuals. h/t @AresLabs_xyz:
-New project called @merit_systems. Twitter bio states “A new economy for Open Source.” Followed by 15 of our mutuals. h/t @AresLabs_xyz:
-New project called @stakedHYPE. Twitter bio states “The premiere liquid-staking solution for the Hyperliquid network.” Followed by 42 of our mutuals. h/t @AresLabs_xyz:
-Something new called @BuildPrismo. Twitter bio states “The Accountability Layer”. Followed by 4 of our mutuals. h/t @AresLabs_xyz:
Top Stablecoin Yields
(note: these are the top Stablecoin Yields, sourced from @DefiLlama (single-exposure, no-IL, $20M+ TVL only) - note: these lists are just raw data, make sure to always DYOR before interacting with any/all protocols)
Security Alerts
-No security alert today.
Important News And Analysis
-Bitcoin has made history by hitting 100k for the first time:
-@cobie bullpoasting:
-Statements about Bitcoin by both Jerome Powell and Vladimir Putin generated much attention over the last 24 hours, h/t @samcallah:
-Additional headlines c/o @cryptoIntegrat:
-The MOVE (bond volatility) index appears on cusp of rolling over, which would be quite bullish for risk assets like crypto, h/t @noahseidman:
-Much speculation re: potential index inclusion for both MicroStategy and Coinbase, h/t @Architect9000:
-Valuable thoughts from @docXBT:
-Interesting tweet from Solana co-founder @aeyakovenko:
-Stablecoin supply hits new all-time high, but VC funding still not elevated compared to last cycle, h/t dual tweets below from @0xngmi:
-Very well-written and interesting article analyzing and comparing the strategies of Hyperliquid and Ethena, from @DiogenesCasares:
-Investing/cycle thoughts from @DaanCrypto:
-New episode of @Lightspeedpodhq featuring Solana co-founder @rajgokal:
-Interview with @DTAPCAP from @Blockworks_:
-New episode of ‘TAO Talk’ from @blocmatesdotcom, with the regular hosts + guests from @dippy_ai:
-New video from The Calculator Guy @phtevenstrong, discussing esoteric memecoin LP’ing strategies and other yield-related topics:
-Parting wisdom from @sandraaleow:
Conclusion
Happy Thursday friends! Enjoy the positive vibes :)
And please RT/subscribe/etc if you found this valuable!
-
-
-
-
***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.
