🌊 Wave Wisdom - November 24th, 2023

DATA
Key Prices

BTC $37,739 (0.98% 24h)

ETH $2,098 (1.63% 24h)

SPY $454.98 (0.39% 24h)

DATA
Market Overview

Total Market Cap $1.43T (1.18%)

Total Volume $43.43B (-19.93%)

BTC Dominance 51.48% (-0.05%)

ETH Dominance 17.6% (0.1%)

DATA
Chain TVL

DATA
Protocol/Chain Fees (24h)

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

DOLA-USDC on Aura with $6.11m TVL and 40.78% APY

GHO-USDC-USDT-DAI on Sommelier with $2.94m TVL and 39.20% APY

VST-FRAX on Frax with $2.06m TVL and 37.01% APY

USDPY on Toros with $1.73m TVL and 26.56% APY

USDT on Iron Bank with $804,000 TVL and 21.97% APY

CEUR-AGEUR-EUROC on Convex Finance with $721,054 TVL and 21.51% APY

USDT (Clearpool) on Idle with $624,985 TVL and 21.06% APY

FUSDC on Pendle with $412,345 TVL and 20.38% APY

DOLA-USDC (Aura) on Beefy with $312,192 TVL and 20.13% APY

NEWS
Talk of the Town

Let's break down today's newsletters, shall we?

We've got some juicy bits to chew on, starting with IntentX shaking up the game. This intent-based derivatives exchange is all about letting traders signal their moves without committing right away, which could mean better deals all around. They're not just talking the talk; they've got a beta version live and are teasing traders with a 15% bonus for using referral codes, plus a retroactive airdrop based on beta-phase trading volume. Keep an eye on this one.

Meanwhile, The Daily Degen's got the scoop on Chainflip's token launch, soaring 40% on Coinlist—people are clearly digging it. But it's not all sunshine; KyberSwap and Heco Bridge got hit hard with hacks, bleeding tens of millions. And while JP Morgan's giving Binance a thumbs up, the SEC's got Kraken in its crosshairs again. Talk about a rollercoaster.

Speaking of Binance, CZ's stepping down as CEO has got everyone buzzing. But despite the drama and a hefty $4.3 billion fine, Bitcoin's shrugging it off like it's nothing. And Blast, this new Ethereum L2 solution, is making waves with $200 million locked in just two days.

But let's not forget the undercurrents. Avalanche's daily transactions are through the roof, thanks to those Avalanche Ordinals, and stablecoin market caps are on the rise. Oh, and Eigenlayer's testnet is up and running, Fidelity's eyeing an Ethereum ETF, and dYdX v3 got played for $9M. It's a wild world out there.

So, that's the skinny. If you want to dive deeper into any of these stories, check out the sources. They've got all the details.

Original note, Interview, Coindesk article, Premium membership, The Daily Degen, Chainflip, Eigenlayer testnet, Fidelity Ethereum ETF.

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: 65 (30.0% 24h Δ)

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

@CryptoCred mocks the absurdity of the market, noting BTC's rise and shakes his head at the thought of NFTs gaining popularity once more. He also throws a sarcastic jab about a new NFT project supposedly backed by a generous uncle.

@hedgedhog7 seems to be keeping an eye on Kyber Network Crystal (KNC) for short-term trading opportunities despite the recent hack and an attempt to negotiate with the hacker.

@CryptoFightWeek hypes up Crypto Fight Night #3, proudly announcing a sold-out event and sharing the immaculate vibes ahead of the battles.

@Trader_XO takes a jab at the overzealous replying habits of those who repeatedly call market tops and bottoms under influencer accounts, with a hint of skepticism on the current uptrend.

@adamcraigmile reflects on the resilience of the market, suggesting coins are being pumped post-Thanksgiving dinner.

Yet, the market's stillness for $38k BTC seems underwhelming for him.

@SalsaTekila briefly explains Cumulative Volume Delta (CVD), a niche tool signifying the intensity of market buy and sell actions.

@art_xbt applauds the nonchalant BTC market amidst short-closing ahead of options expiry, implying a bullish sentiment.

@TraderSZ highlights a range break in $MNDE that could herald a substantial price surge, likening it to Lido but at a fraction of the valuation.

@Trader_XO indicates selective trading strategies for BTC, preparing to capitalize on potential sweeps across set lows.

@TraderSZ perceives a bullish future for Solana ($SOL), predicting a final buying opportunity before a significant uptick.

@Tradermayne and @Roger_XBT toss around sarcasm regarding the copying of trade setups, a comical take on the lack of originality in the space.

@SalsaTekila maintains a bullish view on ETH, while @Trader_XO hints at potential market corrections affecting BTC price action.

Many ct traders are watching the market closely, prepped for both short-term plays and anticipate positive movements despite the undercurrents of market skepticism and the occasional hack or market manipulation anecdote.

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: 85 (70.0% 24h Δ)

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

@CryptoKaduna appears bullish on $BLOCX by BLOCX_TECH, pointing out the token's potential next to hit all-time highs after a roster of other PoW coins did. The confidence seems to be rooted in the token's fundamentals and the patience required for it to unfold.

Meanwhile, the he also gives a shout-out to $GNC without trailing off into specifics, indicating that it could be on their radar, although less attention was given compared to $BLOCX.

@CryptoDamus411 shares enthusiasm for $MAGNET, highlighting the platform's incentive mechanism for setting up liquidity pools. They suggest that this strategy could markedly bolster the token's prominence.

He also spotlights $TRADE by Polytrade_fin, signaling confidence in its real-world asset marketplace and partnership potential. Despite concerns of entering at a peak, the user's research nudged them into a bullish stance, expecting the sector to surge.

Additionally, there's a tacit endorsement of $TET by CryptoDamus411, noting Mainnet Metamask integration as a critical step toward broader adoption.

Finally, this gem hunter touches on a wider market sentiment, suggesting that the traders' community should keep an eye out for a market instance where typical reactions to news start to falter, a likely signal of a significant shift.

Despite sharing in on $BLOCX, @CryptoNikyous draws attention to $NERD, lauding the team's track record of constant delivery and updates as a strong buy signal. A mention of other tokens like $ROSE, $RIO, $MPL, $TKST, and $ONI were also spotted, with the addition of $COF by @JumperWave, teasing significant potential during an impending gaming bull cycle.

@vortexai_main's token $VXAI also gets a nod from @CryptoKaduna, standing out as an AI-driven trading bot on Telegram that supports both centralized and decentralized exchange strategies. The fitting narrative into the AI trend boosts its speculative appeal.

Overall, $BLOCX by BLOCX_TECH and $TRADE by Polytrade_fin were highlighted with more concrete rationale, while others like $NERD and $VXAI also caught eyes with their distinct uptrends and contributing narratives within AI and continuous team delivery.

These insights from ct's gem hunters paint a picture of cautious optimism, with each recommendation backed by a strategic rationale, be it incentive models, partnerships, emerging tech, or team execution.

Mentioned Coins

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

BLOCX. ($BLOCX) |

Yield Magnet ($MAGNET) | Ethereum Ecosystem

Polytrade ($TRADE) | DWF Labs Portfolio

Tectum ($TET) | Layer 1 (L1)

NerdBot ($NERD) | Ethereum Ecosystem

Oasis Network ($ROSE) | Smart Contract Platform

Realio ($RIO) | Algorand Ecosystem

Maple ($MPL) | Decentralized Finance (DeFi)

TokenSight ($TKST) | Ethereum Ecosystem

ONINO ($ONI) | BNB Chain Ecosystem