🌊 Wave Wisdom - January 4th, 2024

DATA
Key Prices

BTC $43,767 (1.31% 24h)

ETH $2,242 (0.60% 24h)

SPY $468.3 (-0.32% 24h)

DATA
Market Overview

Total Market Cap $1.66T (0.68%)

Total Volume $78.63B (-31.14%)

BTC Dominance 51.68% (0.34%)

ETH Dominance 16.24% (-0.01%)

DATA
Chain TVL

DATA
Protocol/Chain Fees (24h)

The key to reading this graphic is to look for new entrants. This shows they are gaining adoption.

DATA
CEX Inflows & Volume

In order by assets

YIELD
Stablecoin Yields

Criteria: Stablecoins in audited pools with 20% or higher APY and greater than $200k TVL

DAI on Gains Network with $21.63m TVL and 85.61% APY

GDAI (For LP | Matu... on Pendle with $8.45m TVL and 66.22% APY

IDAI-IUSDC-IUSDT on Curve DEX with $5.81m TVL and 63.57% APY

DOLA-USDC on Aura with $3.86m TVL and 62.17% APY

MKUSD-USDC (Prisma) on Beefy with $3.39m TVL and 39.29% APY

LUSD-USDC (0.05%) on Uniswap V3 with $2.97m TVL and 36.66% APY

DAI-USDT (0.01%) on Uniswap V3 with $2.76m TVL and 34.59% APY

MIM-ARBUSDCE-USDT (... on Beefy with $2.71m TVL and 33.37% APY

IDAI-IUSDC-IUSDT on Convex Finance with $2.57m TVL and 22.56% APY

PUSD-FRAXBP on Curve DEX with $2.06m TVL and 20.56% APY

NEWS
Talk of the Town

Alright, let's dive into the thick of today's newsletters. No fluff, just the straight heat.

Linn's Ledger is buzzing about those bear market babies—emerging projects that could explode in value. Linn's got a nose for patterns and reckons these underdogs from the bear market are poised for "TASTY multiples." It's the old story: the smart money builds foundations in the bad times to reap rewards when the cycle turns.

Meanwhile, The DeFi Investor's got the scoop on a market crash that wiped out $540M in a flash. Talk about a bloodbath. The SEC's playing coy with Bitcoin ETFs, and the market's over-leveraged like a Jenga tower. But there's a silver lining—experts are betting on a BTC ETF approval and other goodies like the BTC Halving to turn the tide in 2024.

The Daily Degen's all about that 'Airdrop Meta' for 2024, dropping names of projects like breadcrumbs for Hansel and Gretel.

They're also eyeing up chains like Manta, Astar, and Telos, which are bucking the downturn trend. And they've got their ear to the ground for the latest security alerts and stablecoin yields.

Revelo Intel's playing the long game with the BTC ETF decision. They're parsing through the tea leaves with Bloomberg's ETF Analyst James Seyffart, who's dissecting the in-kind versus cash creation debate. The SEC's decision is a ticking time bomb set to go off between January 8th and 10th, and it's got everyone on edge.

So, keep your eyes peeled and your wallets ready. Check the sources if you want the full monty.

Linn's Ledger The DeFi Investor The Daily Degen Revelo Intel

SENTIMENT
Trader Thoughts

We bring you the best thoughts from top traders and assign a score to their bullishness. 1 being max bearish and 100 being max bullish.

Bullishness Score: 45 (-13.5% 24h Δ)

Let's dive into the ct traders' market outlook over the past 24h.

@Pool2Paulie hinted at finding a good opening price in the market.

@RunnerXBT expressed skepticism about market makers providing liquidity for BTC and was preparing to be let down by the absence of an ETF decision.

@Awawat_Trades retweeted sentiments acknowledging market challenges and the perp premium being gone, suggesting low leverage in the market.

@trader1sz decried the quality of journalism and discussions on public platforms.

@deltaxbt shared a humorous take on his late-night YouTube recommendations, possibly indicating a need for a break from the markets.

@CryptoParadyme engaged in some speculative banter, suggesting a market movement to 60k by quarter-end without committing firmly to that position.

@HsakaTrades humorously lamented the potential exchange downtimes coinciding with ETF announcements, recognizing the high-volatility environment.

@TraderKoz took a cautious stance on trying to leverage the potential ETF move, preferring the safety of spot trading.

@SalsaTekila hinted there might be bullish market movement while joking about liquidation fees.

@Etherean007 appeared somewhat indecisive, suggesting a break from the markets until post-ETF announcement clarity while retweeting advice on dealing with potential volatility.

@Bluntz_Capital teased the potential for a BTC ETF but did not elaborate further, leaving their stance ambiguous.

Many traders seem to be waiting on the sidelines, expecting potential volatility around the ETF news and uncertain about committing to a bullish or bearish position. The focus for many is on market reactions to the ETF decision and strategic responses to it.

SENTIMENT
Gem Hunter Thoughts

We bring you the best thoughts from top gem hunters and assign a score to their bullishness. 1 being max bearish and 100 being max bullish.

Bullishness Score: 65 (-23.5% 24h Δ)

Let's dive into what the gem hunters on ct are eyeing over the past 24h.

@CryptoKaduna highlighted the upcoming listing of $COM on Bybit, suggesting potential for growth with the new exposure.

@ChadCaff is bullish on $PROPC, citing the real-world asset (RWA) narrative and its potential to attract institutional liquidity and government policies.

@TheEuroSniper hinted at a connection between Michael Terpin's BAYC and @RevestFinance, signaling optimism for $RVST's future.

@Crypto_L00n showed confidence in $FI from @FideumFinance, despite others' criticisms, indicating belief in the project's resilience.

@KaminoCrypto's tweets suggest a pragmatic approach to market conditions, emphasizing the importance of holding positions through uncertainty.

@CryptoDamus411 criticized the investment choices of a notable figure, suggesting that following influencers blindly can lead to losses, without mentioning a specific token.

@Cryp__toad expressed enthusiasm for $MOZ's potential, indicating an expectation for significant price movement.

@V2Chenz brought attention to $ENGAGE, developed by a trusted team, hinting at its potential for community contribution and rewarding effort.

@CryptoKaduna also mentioned the listing of $ALEX on KuCoin, which could be a signal of growing interest and accessibility for the token.

@Govanisher's tweet about aggressively entering seed deals reflects a strategy to capitalize on potential gains during a bull market.

@CryptoKaduna shared a bullish stance on $TAO and $AKT, with both bags ready for the run.

@CryptoKaduna also noted $INJ's compatibility with EVM and SVM, suggesting a strong technical foundation for future growth.

@V2Chenz and @Crypto_L00n both see potential in $SECT and $MBOT, respectively, with expectations of price appreciation.

@CryptoKaduna questioned the valuation of $KUJI, implying it may be undervalued and poised for growth.

@toptickcrypto shared several thoughts on market conditions and strategies, cautioning against leverage and emphasizing the importance of stablecoin positioning during uncertain times.

@BlocksNThoughts commented on the relative toxicity of CT compared to other Twitter communities, and also shared a bullish outlook on $GBE from GAMBEX.

@TheEuroSniper and @IndianaAltzz exchanged bullish sentiments on $GB from @grandbase_fi, with new key features expected to drive interest.

@anger_trading highlighted $RVST's potential, suggesting that it could be a significant player in the space.

@Cryp__toad sees $WNT's expansion in China as just the beginning, indicating a long-term growth trajectory.

@defi_antcrypto emphasized the importance of money flow over network superiority, hinting at a pragmatic investment approach.

@CryptoKaduna is invested in $MXM, noting the game's live status on Solana and backing from notable teams.

@CryptoKaduna also praised the role of $AMO in the @aminorewards ecosystem, suggesting its promise as a token.

Lastly, @CryptoKaduna sees $INJ's recovery above $40 as a sign of an impending new all-time high, advising against selling in a bull market.

Overall, tokens like $PROPC, $RVST, $FI, $ENGAGE, $ALEX, $TAO, $AKT, $INJ, $SECT, $MBOT, $KUJI, $GB, and $AMO have been highlighted by various gem hunters, with multiple mentions indicating a stronger consensus on their potential.

Mentioned Coins

Disclaimer: This process is automated, so the links may be different than the coin actually mentioned.

Wicrypt ($WNT ) | DePIN

Reaktor ($RKR ) | Ethereum Ecosystem

Propchain ($PROPC ) | Ethereum Ecosystem

Mozaic ($MOZ ) | Artificial Intelligence (AI)

Yield Magnet ($MAGNET ) | Ethereum Ecosystem

Sector ($SECT ) | Arbitrum Ecosystem

NoGas ($NGS ) | Ethereum Ecosystem

Bittensor ($TAO ) | Artificial Intelligence (AI)

Akash Network ($AKT ) | DePIN

Injective ($INJ ) | Binance Launchpad

MoonBot ($MBOT ) | Telegram Apps

Metis ($METIS ) | DWF Labs Portfolio

Kujira ($KUJI ) | Kujira Ecosystem

BeeChat ($CHAT ) | Ethereum Ecosystem

Revest Finance ($RVST ) | Ethereum Ecosystem

NEWS
New Governance Proposals

Sometimes these are pure alpha.

Deploy Compound III on Scroll by Compound DAO is in Preliminary Discussion | Medium Importance

Allocate 7m OSMO to the OGP Multisig to Fund Market Making Operations for 12 Months (707) by Osmosis DAO is in Active Vote | Medium Importance

V2 Ethereum LT Reductions (Jan. 2, 2024) by Aave DAO is in Preliminary Discussion | Medium Importance

Osmosis Grants Program v3 Renewal (706) by Osmosis DAO is in Active Vote | Medium Importance

Raise Maximum Gas to 300M and Lower Max Bytes to 5MB (705) by Osmosis DAO is in Active Vote | Medium Importance