Happy Wednesday friends! Let’s get after it!
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: $3.84T
Gold: $2644.14
Oil (WTI): $70.75
US 10Y Treasury: 4.419%
Biggest Price Movers
(From @coingecko top 1000, by 24 hour change)
Spotlight
Take note wise degens! An absolutely gigabrained new project called @Gasp_xyz has just launched!
Gasp is the first dex in the Eigenlayer ecosystem and boasts a host of fascinating innovations, and aims to provide “…secure, native cross-chain trading—the first step towards a consolidated asset ecosystem.”
As explained in this excellent article by Gasp co-founder @uPeterKris:
“Our mission is to create an interconnected network of liquidity across all blockchain networks…. [combining] Uniswap’s permissionless listing with Thorchain’s connectivity, while liquidity is secured by its originating L1….”
Gasp has just entered its Alpha Phase and the launch of the $GASP token via their Alpha Community Pool!
There is a ton of cool stuff going on (including big rewards for users!), so we highly encourage you to read all the details in this thread! (first tweet in thread is embedded below!)
We are proud to be helping raise awareness about everything Gasp is rolling out, so make sure to follow them on Twitter for more updates and visit their site now at app.gasp.xyz!
Biggest TVL Movers + Else
Chains are quite red today. Top 50 chains red on all three timelines (daily, weekly, monthly) include Blast (#17), Linea (#21), TON (#30), Scroll (#31), and Mode (#42).
Protocols are quite red today as well. Top 50 protocols red on all three timelines (daily, weekly, monthly) include Maker (#8), Jito (#14), Sanctum (#34),
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 $1M TVL (from @DefiLlama):
Here’s The Top Entities By 24 Hour Revenue Generation (from @DefiLlama):
Bitcoin Fear/Greed Index:
(from @BitcoinFear)
Chart Of The Day
(Courtesy of our Official Sponsor @vertex_protocol)
-$LTC is one of the only tokens green on the daily today, and there is much speculation that it may get an ETF later this year, since it is a fork of Bitcoin and therefore benefits from the resulting regulatory clarity… However its also a “dino coin” that catalyzes much chagrin among active crypto enthusiasts these days… Do you have any strong thoughts on its performance from here anon?!? Express your thesis via 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 @Promise_Labs. Twitter bio states “Can you keep a promise?” Followed by 2 of our mutuals. h/t @AresLabs_xyz:
-New project called @indiedotfun. Twitter bio states “Build Web3 games & fundraise 100x faster. The tokens you launch become your game's currency. Own your economy. Own your game. Made by @moddio team.” Followed by 3 of our mutuals. h/t @AresLabs_xyz:
-A new dex on @OasisProtocol called @NebyExchange has been added to @DefiLlama. Twitter bio states “The premier DEX on @OasisProtocol ....” Followed by 3 of our mutuals.
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 alerts today.
Important News And Analysis
-FOMC Meeting today, bond market is pricing in 95% chance that the Fed cuts by 25 bps:
-The Pudgy Penguins airdrop is still the dominant story in crypto world, h/t @Tyler_Did_It:
-The airdrop seems to have succeeded in cultivating quite a sense of goodwill, with nearly everyone in the on-chain crypto world seeming to receive at least a modest allocation, h/t @danielgothits:
-Continued Saylor-watching, h/t @pythianism:
-Binance alfa c/o @WuBlockchain:
-The Dow has been down for 9 days in a row interestingly:
-ETH ETF flows have been positive for 16 days in a row however, h/t @RasterlyRock:
-Additional headlines from @layerggofficial:
-Additional headlines c/o @cryptoIntegrat:
-New @nic__carter interview is getting lots of attention, where he states that he doesn’t believe there will be a Bitcoin strategic reserve in the manner many people are talking about, but is extremely bullish on Bitcoin price-wise regardless:
-New interview with Jordi Alexander and Sam Kazemian from @therollupco:
-New video from @notthreadguy interviewing @cryptopunk7213 about ‘Why AI crypto is the future…”:
-New @TaikiMaeda2 interview with noted CT trader @d_gilz, with extensive discussion of AI Agent meta:
-Important thoughts from @KevinWSHPod:
-Parting wisdom from @SolamiMamis:
Conclusion
Have a good Wednesday and stay alert out there friends!
And please RT/subscribe/etc if you found this valuable!
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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.
