🌊 Wave Wisdom - January 20th, 2024

DATA
Key Prices

BTC $41,565 (0.29% 24h)

ETH $2,469 (-0.82% 24h)

SPY $477.65 (1.25% 24h)

DATA
Market Overview

Total Market Cap $1.64T (-0.15%)

Total Volume $57.38B (-10.63%)

BTC Dominance 49.81% (0.22%)

ETH Dominance 18.15% (-0.11%)

DATA
Chain TVL

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

GDAI (For LP | Matu... on Pendle with $15.97m TVL and 47.13% APY

JUSDC (1day lock) on Jones DAO with $11m TVL and 46.06% APY

FRAX (Aggressive) on Vesper with $5.3m TVL and 34.60% APY

DOLA-USDC on Aura with $3.77m TVL and 33.89% APY

MIM-ARBUSDCE-USDT (... on Beefy with $3.43m TVL and 31.34% APY

USDC-MAI on Aerodrome with $2.42m TVL and 31.25% APY

USDC on HoldStation DeFutures with $2.15m TVL and 28.52% APY

DOLA-USDC on Aerodrome with $1.74m TVL and 27.42% APY

USDT on Interport Finance with $1.68m TVL and 27.08% APY

GLPUSDC on Umami Finance with $1.36m TVL and 25.80% APY

NEWS
Talk of the Town

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

Hivemapper's $HONEY Token Surges: Revelo Intel's spotlight on $HONEY reveals a 30% spike post-Coinbase listing, with a 10x rise over months. Hivemapper's dashcam data collection model is turning heads, incentivizing drivers with $HONEY and potentially disrupting the mapping industry. Yet, its sustainability is questioned, with its economy's infancy relying on speculative activities.

Solana's Integration: Serenity Research notes Hivemapper's choice of Solana for its low fees and developer-friendly environment. Meanwhile, Crypto, Distilled reports Aave's proposal to expand to Solana, hinting at DeFi ecosystem shifts. Solana's also making waves with its phone pre-sales, hitting $13.5 million in 30 hours, as per Daily Crypto News.

Stablecoin Scoop: Serenity Research's deep dive into stablecoins highlights high-yield pools and significant inflows into the stablecoin supply. Paxos's USDP goes live on Solana, and Frax introduces Frax Bond $FXB. However, TUSD's depegging raises eyebrows, and Ryan McCain's roadmap for decentralized stablecoin adoption is a must-read.

DeFi Developments: The Daily Degen's TVL stats show PulseChain and Renzo leading gains, while Blocmates' newsletter mentions Jupiter's airdrop and Renzo's record TVL.

Also, Banana expands to Solana, and Persistence teams up with Cryptocito.

Bitcoin and Ethereum ETFs: Blocmates reports positive Bitcoin ETF flows, and Daily Crypto News anticipates Ethereum ETF approval in May. Crypto, Distilled adds that Franklin Templeton is bullish on Ethereum and other layer 1 networks.

Miner Movements: Crypto, Distilled reveals miners selling reserves pre-halving, with CryptoQuant data backing this up. It's a strategic move to secure profits before the anticipated event.

Trump's NFTs and Ordinals: Daily Crypto News drops the bombshell that Trump's brand is entering the NFT space via Bitcoin Ordinals, stirring the pot in the crypto-narrative.

Market Movements: Crypto, Distilled paints a grim picture with Bitcoin and altcoins taking hits, while Benjamin Cowen points to Bitcoin's key support level. Macro analyst Tedtalksmacro predicts a liquidity surge, with altcoins leading the charge.

That's the rundown. For the full scope, check out the sources: The Daily Degen, Revelo Intel, Serenity Research, Blocmates, Daily Crypto News, and 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: 50 (-33.3% 24h Δ)

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

@Pentosh1 showed signs of skepticism with a satirical comment on taking $SOL private, indicating a sense of humor about the market. His later tweets suggest a cautious stance, advising patience and implying the market is currently in a consolidation phase, which takes time and can be misleading for those expecting constant breakouts.

@CryptoParadyme expressed a bearish sentiment, highlighting a loss of followers and adopting a critical tone towards the current market conditions, mentioning sentiment being "firmly in the gutter." However, they also hinted at the possibility of a surprise market turn being on the horizon.

@SalsaTekila shared a hint of optimism, hoping for an opportunity to accumulate before a potential pump, and seemed to affirm another's FUD being behind us soon, which could be taken as a subtle bullish hint.

@TraderKoz tweeted about involvement in a new project, signaling some personal bullishness on their endeavor but did not provide direct market commentary.

@CryptoKaleo's tweets had an upbeat tone with messages like "LINK leading the way," and posts about deploying more capital and securing funding, conveying a bullish outlook on his activities if not the broader market.

In terms of broader market direction, the sentiment was mixed, with some expressing caution and consolidation, while others suggest bullishness through personal excitement and investment in projects or anticipation of market surprises. No clear consensus on the direction being up or down was presented, but individual outlooks vary, showcasing the diverse perspectives within the ct community.

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: 73 (-2.7% 24h Δ)

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

@crypto_popseye is holding a significant position in $bai and $wbai, acquired from LBP, and anticipates an upward price movement. However, he's critical of unrealistic expectations being set for the project, particularly the comparison to "$olas killer."

@Cryp__toad and @CryptoKaduna both mention $SAVM, with Cryp__toad dismissing FUD around VC tokens and influencers adding value to the project, while CryptoKaduna sees the dumping by influencers as a bullish sign, implying there's nothing left to dump and highlighting the potential of upcoming IDOs.

@mrrose__ cryptically tweets about @CocaineProtocol, suggesting it's key to something, but doesn't elaborate further.

@Cryp__toad also spotlights $AGRS as a solution to safe AI, and shares enthusiasm for VirtuSwap's $VRSW, which has recently tripled in value.

@anger_trading is impressed with the continuous development by #2DAI @2DAICommunity, particularly their text to video / AR VR technology, and anticipates a big move out of the current sideways trend.

@ChadCaff observes the shifting market share in the L2 space, noting Arbitrum's drop below 50% and the rise of other L2s, predicting a competitive year ahead.

@BlocksNThoughts offers a pragmatic view on crypto utilities, pointing out that real-world daily use is still largely absent, and highlights the work of @cresowallet in the smart wallet space.

@V2Chenz and @anger_trading both engage with @Truebitprotocol, with V2Chenz affirming its potential.

@BlocksNThoughts is bullish on $CX due to the rapid insights provided by @ChartAI_erc, and on $OPSEC for its unique approach to cloud computing.

@zolandinho is optimistic about $link's mid-term prospects, despite the market cap already being in the billions.

@defi_antcrypto is keen on $OMNI, anticipating a market breakthrough to new ATHs.

@Crypto_L00n sees potential for $MPL to reach a $5B+ Market Cap, grouping it with $RIO, $TRADE, $CPOOL, and $FI.

@V2Chenz suggests earning $SAVM by staking $MUBI on @Multibit_Bridge, predicting $MUBI could reach billion-dollar valuations.

@BST is highlighted by @V2Chenz as an undervalued project in the #RWA space.

@defi_antcrypto is excited for $IX at @illuminexswap, a privacy DEX using @OasisProtocol, and sees it as a catalyst for $ROSE.

@toptickcrypto hints at wrapped, tradeable points but doesn't specify further.

@anger_trading is bullish on $DEXTF @DomaniProtocol, especially after the collaboration with @DeutscheBank.

@Crypto_Shaggy hints at a price increase for $wBAI thanks to community support.

@mrrose__ also mentions $wBAI, indicating its ticker for clarity.

@Govanisher invested early in INSCRIBE, predicting traction similar to $SAVM, and plans a detailed thread on his thesis.

@CryptoKaduna lists multiple projects he's invested in, suggesting to watch their IDOs and launches, including @Lends_so, @dyorexchange, and others.

@Crypto_L00n shares a thread about $LYVE's valuation post LBP, noting its low FDV and backing by @LineaBuild.

@Crypt0_Andrew retweets about $LINK now being supported in the Multi-Purpose Lending Pool of @Vaultkaofficial.

Overall, ct gem hunters are showing interest in a diverse range of tokens, with multiple mentions of $SAVM indicating a strong focus on its potential. They are also paying attention to the development and partnerships of projects like $DEXTF, $OMNI, and the L2 ecosystem. Keep an eye on these tokens, but as always, do your own goddamn research.

Mentioned Coins

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

BAI Stablecoin ($BAI ) |

Autonolas ($OLAS ) | Artificial Intelligence (AI)

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

VirtuSwap ($VRSW ) | Polygon Ecosystem

ChartAI ($CX ) | Ethereum Ecosystem

OpSec ($OPSEC ) | Ethereum Ecosystem

Chainlink ($LINK ) | Business Services

Omni ($OMNI ) | Smart Contract Platform

Maple ($MPL ) | Decentralized Finance (DeFi)

Realio ($RIO ) | Algorand Ecosystem

Polytrade ($TRADE ) | DWF Labs Portfolio

Clearpool ($CPOOL ) | DaoMaker Ecosystem

Fideum ($FI ) | BNB Chain Ecosystem

Multibit ($MUBI ) | BNB Chain Ecosystem

Oasis Network ($ROSE ) | Smart Contract Platform

Domani Protocol ($DEXTF ) | Decentralized Finance (DeFi)

SELL THE TOP
Coinbase App Store Ranking

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

Overall Ranking

#475 (4.62% 24h Δ)

Finance Category

#33 (0.00% 24h Δ)