🌊 Wave Wisdom - January 18th, 2024

DATA
Key Prices

BTC $42,467 (-0.45% 24h)

ETH $2,517 (-0.93% 24h)

SPY $471.82 (-0.56% 24h)

DATA
Market Overview

Total Market Cap $1.67T (-0.73%)

Total Volume $55.06B (-6.43%)

BTC Dominance 49.81% (0.17%)

ETH Dominance 18.1% (-0.03%)

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 $30.44m TVL and 50.69% APY

GDAI (For LP | Matu... on Pendle with $15.52m TVL and 34.22% APY

JUSDC (1day lock) on Jones DAO with $10.91m TVL and 33.89% APY

IDAI-IUSDC-IUSDT on Curve DEX with $6.03m TVL and 33.68% APY

USDC (USDC lending ... on DeltaPrime with $5.16m TVL and 30.21% APY

FRAX (Aggressive) on Vesper with $5.04m TVL and 29.65% APY

DOLA-USDC on Aura with $3.78m TVL and 29.28% APY

MIM-ARBUSDCE-USDT (... on Beefy with $3.48m TVL and 22.39% APY

USDC-MAI on Aerodrome with $2.36m TVL and 20.59% APY

USDC on HoldStation DeFutures with $2.13m TVL and 20.01% APY

NEWS
Talk of the Town

Diving into today's newsletters, let's get straight to the juicy bits.

The Castle Chronicle is buzzing about the SEC's green light for Bitcoin ETFs and Circle's IPO ambitions. Bitfinex is giving some UK customers the boot, while Celsius's ex-creditors might have to cough up pre-bankruptcy withdrawals. GameStop's NFT marketplace is hitting the brakes due to regulatory jitters. On the project front, Locus Finance and Wise Lending got hit by exploits, but Binance is stirring the pot with $MANTA on their Launchpool. Arca's betting big on $RLB, and Blast's testnet is live, with mainnet action slated for February 26th. Vlad's got the scoop on bullish Bitcoin price action, and The Alpha Assembly is the new kid on the block for crypto intel.

Revelo Intel's got eyes on $BLUR, which is up 40% and making waves in the NFT market. They're expanding with Blast L2 and Blend services, and THORChain's getting some limelight for cross-chain swaps.

The Daily Degen is calling 2024 the year of the 'Airdrop Meta', with several projects lined up for potential airdrops. They're also flagging up security alerts on social media scams and bridge exploits.

Investments & Recommendations are dishing out tips on Revelo Intel and GMX, while new projects are popping up like daisies, from cross-chain marketplaces to Bitcoin security protocols.

The Humble Farmer's Digest is all about Ordiswap and Berachain, with the former shaking up Bitcoin DeFi and the latter causing a stir with its testnet launch. They've got a laundry list of farms and projects to watch, plus a premium discord for those who want to join the DeFi alert party.

Crypto, Distilled is serving up a market overview with Bitcoin taking a dip and altcoins on the rise. They're talking 'silent liquidity' and no recession in sight, with Ethereum possibly gearing up for an ETH/BTC ratio surge.

Altcoins might rally, and Chainlink's bullish trend is getting nods from big names. Spot BTC ETFs are raking in the dough, and Chainlink's cozying up with Circle for smoother USDC transactions. The Arbitrum ecosystem is killing it, and Real-World Assets on blockchain could hit $16 trillion by 2030. Celestia's staking wallets are tripling, and ETFs are just a short-term distraction from the real deal—liquidity.

Check the sources for the full scoop: The Castle Chronicle, Revelo Intel, The Daily Degen, The Humble Farmer's Digest, Crypto, Distilled.

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: 58 (-31.8% 24h Δ)

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

@CryptoKaleo highlighted the resurgence of ETH NFTs, pointing to "Pudgy Penguins" as an indicator of market strength in that sector. Skepticism about the broader NFT market lingered as he noticed significant reds amidst the greens.

@SalsaTekila scathingly remarked that the market was still in a state of "grinding everyone’s balls," suggesting a lack of clear direction and a painful environment for traders. His subsequent tweets reflected a cautious stance, advising against hastiness given the unclear influence of Grayscale's moves on Bitcoin.

@CryptoParadyme offered a gloomy prediction, sarcastically calling his followers "future thousandaires" and implying an eventual market collapse. He also pointed to the oddities in the market, like meme coins rallying for various reasons unrelated to broad market narratives.

@Bluntz_Capital commented on the price action of a microcap Solana-based meme coin, implying a potential upside surprise, indicating some optimism when certain technical indicators are met.

@SalsaTekila provided a specific Bitcoin price target, suggesting a potential buying opportunity around $38k in Q1, offering a restrained view with attention to market moving events and FUD.

@Pentosh1 looked beyond immediate market trends, focusing on the macro view that positions crypto for a massive increase in market cap in the coming years, implying long-term bullishness regardless of current market pains.

@Tradermayne expressed bullish sentiment on $TSLA and showcased a strategic approach to trading, focusing on specific entry points like a lower $ETHBTC before a strong long position.

The overall sentiment was a mix of cautious optimism, with attention paid to certain altcoins, and a bearish outlook stemming from market uncertainties and external factors like Grayscale. Traders expressed a range of emotions but consistently showed a nuanced understanding of the market's multifaceted influences.

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: 70 (-17.6% 24h Δ)

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

@TheEuroSniper is eyeing $WNT, highlighting it as a competitor to $HNT which saw a 45x increase last cycle and believes it has similar potential.

@Rationalape1 is bullish on $MANTA, citing its position as the third-highest in Total Value Locked (TVL) among all Layer 2s and its innovative approach to privacy.

@Crypto_L00n mentioned the partnership between @EmpyrealSDK and @OasisProtocol, hinting at new use cases and trust delegation possibilities, signaling potential growth.

@KaminoCrypto has focused on HILO, noting an increase in volume on its v4 and highlighting the influx of new users and players enjoying its recent update.

@Cryp__toad suggests $AGRS has significant upside if its AI technology proves successful, with smart money accumulating large positions.

@V2Chenz has taken a long position on $STX, pointing out its strong price action at a key weekly level and a potential "ascending wedge" breakout, while also teasing upcoming information on $VRD from @ViridisNetwork.

@CryptoKaduna is keeping an eye on $RVF, hinting at its potential with a simple "⏳," and also mentioned significant ROIs on IDOs like $AIT and $INSP on @theapeterminal, with a bullish outlook on $SAVM from @SatoshiVM.

@0xFalcs highlighted the unique approach of @OndoFoundation in sharing yield with stablecoin holders, a deviation from the norm where issuers keep all interest for themselves.

@toptickcrypto is spreading bets across governance tokens and noted high valuations for PYTH, JTO, and JUP, suggesting a Metaplex token could achieve a high Fully Diluted Valuation (FDV) if released.

@mrrose__ shared a series of tweets from @BotanixLabs, outlining the benefits of their platform that integrates Bitcoin's security with Ethereum's smart contract capabilities, aiming to be a game-changer for developers and users in the Web3 space.

@defi_antcrypto gave a shoutout to an in-depth analysis of HMX, a promising high-performance DEX of the future.

Lastly, @CryptoKaduna reassured followers about the $INJ token unlock, explaining why it shouldn't be a concern and could actually serve as a catalyst for the token's value.

Mentioned Coins

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

Wicrypt ($WNT ) | DePIN

Helium ($HNT ) | DePIN

Manta Network ($MANTA ) | Binance Launchpool

Agoras: Currency of Tau ($AGRS ) | Artificial Intelligence (AI)

Stacks ($STX ) | Infrastructure

Viridis Network ($VRD ) | Ethereum Ecosystem

RocketX Exchange ($RVF ) | Poolz Finance Launchpad

AICHAIN ($AIT ) | Ethereum Ecosystem

Inspect ($INSP ) | BNB Chain Ecosystem

Injective ($INJ ) | Binance Launchpad

SELL THE TOP
Coinbase App Store Ranking

When this hits #1 it’s time to sell, until then we grind.

Overall Ranking

#341 (-18.23% 24h Δ)

Finance Category

#33 (-13.79% 24h Δ)