🌊 Wave Wisdom - December 1st, 2023

DATA
Key Prices

BTC $38,585 (1.80% 24h)

ETH $2,093 (2.28% 24h)

SPY $455.48 (0.39% 24h)

DATA
Market Overview

Total Market Cap $1.45T (1.61%)

Total Volume $48.30B (4.77%)

BTC Dominance 52.06% (0.09%)

ETH Dominance 17.36% (0.11%)

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

USDT on Across with $3.15m TVL and 34.05% APY

VST-FRAX on Frax with $2.26m TVL and 31.20% APY

USDC-STAR on Aura with $1.88m TVL and 31.04% APY

USDPY on Toros with $1.77m TVL and 27.89% APY

USDC on HoldStation DeFutures with $1.22m TVL and 27.79% APY

USDT on Iron Bank with $753,420 TVL and 24.49% APY

USDT (Clearpool) on Idle with $681,667 TVL and 22.53% APY

DOLA-USDC (Aura) on Beefy with $544,250 TVL and 21.96% APY

BUSD-USDT (0.05%) on Uniswap V3 with $490,804 TVL and 20.41% APY

GRAI-USDC (0.05%) on Liquis with $302,356 TVL and 20.36% APY

AIRDROPS
Airdrop Alpha

Crypto Snooper has announced upcoming airdrops on the Solana network - source

Alpha Drops has introduced Ten, an encrypted Layer 2 network that may be of interest to airdrop enthusiasts - source

DeFi Airdrops has released a strategy for the Blast airdrop - source

NEWS
News Snippets

PCE Core MoM: 0.2% | Est. 0.2% | Source: BB Economic Event

ATOM Halving proposal got the green light. They've capped the inflation rate at a cool 10% - source

NEWS
Talk of the Town

Diving into today's newsletters, we're slicing through the fluff to serve up the good stuff.

Starting with IgnasDeFi's analysis, the spotlight is on the trifecta for crypto project success: technical innovation, token minting, and storytelling.

They're not just blowing smoke; these elements are critical for community engagement and longevity. Take the technical marvels like Optimistic and ZK Rollups, or the narrative-driven Soulbound tokens – these aren't just fancy terms, they're the building blocks of sustainable ecosystems.

And let's not forget the allure of L1 tokens with their staking yields and airdrops. It's a fine line between a boom and bust, and ecosystems like Injective and Solana are walking it with their unique offerings.

ReveloIntel's dispatch takes us through the state of Perp DEXs, with a side of market updates. Wormhole's hefty $225M raise is a testament to the faith in cross-chain solutions, while the GameFi sector's 75.5% failure rate is a sobering stat. Aave's GHO Stablecoin is crawling back to $1, despite its shaky rep, and there's a whisper of a resolution in the KyberSwap heist.

BNB Chain's opBNB is on a mission to speed up transactions and slash fees, while DNS attacks on Velodrome and Aerodrome remind us that security is a never-ending battle. Perp DEXs are evolving, with platforms like Vertex Protocol and RabbitX pushing the envelope, and incentive programs across the board are keeping traders on their toes.

The DeFi Investor throws in a curveball with Cosmos's drama. A chain split and a new blockchain, AtomOne, are on the cards after a contentious proposal to slash ATOM's inflation rate. The founder's counter-proposal for an ATOM1 airdrop to dissenting stakers is stirring the pot, highlighting the rifts within the community over network security concerns.

So, there you have it, folks. The DeFi space is a cauldron of innovation, drama, and relentless evolution. Keep your eyes peeled for the next big thing, and remember, the devil's in the details.

Check out the sources for the full scoop: IgnasDeFi, ReveloIntel, and The DeFi Investor.

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: 70 (27.3% 24h Δ)

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

@RunnerXBT is playing it safe by taking profit near his outlined Ethereum targets and contemplates the potential bullishness of holding and trading with major cryptos like BTC/ETH instead of trying to 'protect USD bankroll'. He mocks those looking for shorts and suggests a bullish bias, at least until an ETF decision changes the scene.

@Etherean007 seems to be mocking the overconfidence of traders, particularly those shorting Bitcoin on short time frames and then waking up liquidated. He's seeing the market positively, hinting at a strong start to the month's PnL and finding humor in the market’s failures to break certain price levels, implying a bullish undertone in his views.

@deltaxbt emphasizes the importance of staying flat and doing nothing as often the best strategies, subtly critiquing overactive traders.

@SalsaTekila points out the importance and difficulty of staying on the sidelines rather than chasing market movements, and warns against entering positions during overhyped conditions, indicating a more cautious stance.

@HsakaTrades retweeted sentiments that highlight the erratic nature of Open Interest (OI) and potential risks, hinting at an uncertain market sentiment.

@CryptoParadyme shares a bullish outlook with talks of 'bullish withdrawal' and anticipates positive price action (PA) in the coming month.

@CryptoKaleo sees potential for $ATOM to revisit its highs, indicating a bullish sentiment on specific altcoins.

@Pentosh1 implies that a significant upward move for the market could be impending, indicating a bullish expectation.

@LomahCrypto sarcastically suggests Ethereum's 'pump' will lead to negative consequences, hinting at skepticism or bearishness towards immediate market movements.

@SalsaTekila later suggests that traders shouldn't chase the current price increase and instead focus on positioning for the next opportunity, suggesting a more balanced outlook that encourages strategic patience.

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: 75 (-18.5% 24h Δ)

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

@Govanisher highlighted $OLAS, predicting big exchange listings and refusing to sell before the price hits 10 dollars, banking on its impressive volume as a signal of its potential growth.

@V2Chenz showcased a couple of tokens starting with $XPB, describing it as an undervalued PoW network gaining traction among Ethash miners and hinting at an impending breakout due to its unique features and steady emissions. $IBIT and $BST also got a nod from him, both for their bullish technical setups and upcoming catalysts, suggesting a price spike for $IBIT and new highs for $BST.

$FXI caught the attention of @TheEuroSniper, who indicated a lack of sellers and suggested a strong hold on the token, while @KaminoCrypto threw the spotlight on $HILO, provoking thoughts on those who may have sold too early.

@CryptoKaduna chimed in on general trading strategies, contrasting the more cautious short-term traders with the potential high rewards of the long game. They also talked up PoW coins, suggesting they are bouncing back after healthy retracements, and predicted $INJ could hit all-time highs by December.

@TheEuroSniper shared insights on $NAAI, predicting it as a strong buy due to booming buy volume and its potential as an on-chain auditor tool.

@CryptoDamus411 was bullish on $EPIK and $SMT, explaining that $SMT's strong prospects are tied to its underestimated technology and adoption, hinting at hold-to-profit strategies and expecting a 20x return on investment.

$BANANA's real yield potential was hyped up by @ChadCaff, pointing out its eligibility for revenue sharing amidst high daily volume and fees.

@Cryp__toad expressed excitement over the expected performance of $OLAS, forecasting a 100x return from their initial buy-in point.

$TRADE received some attention from @V2Chenz as well, noting it's not heavily mentioned yet but has strong utility, predicting word-of-mouth spread could drive growth.

@Govanisher also gave a shout out to $SYS for those interested in ZK apps secured by Bitcoin.

@V2Chenz made a case for $CRE's partnership with ETHGlobal as a major value driver, and highlighted $LDAO for being undervalued with a breakout chart and a proactive team.

Finally, $GFY was a meme coin pick by @V2Chenz, who couldn't resist going big on it, while @BlocksNThoughts was bullish on $GFY's potential as well, mentioning it could go viral based on meme culture.

Some of these mf’s calls might be wishful thinking, others have their shit together with sound reasons backing their bullishness. Time will tell who's on the money and who's playing themselves.

Mentioned Coins

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

Autonolas ($OLAS) | Artificial Intelligence (AI)

PowBlocks ($XPB) | BNB Chain Ecosystem

InfinityBit Token ($IBIT) | Ethereum Ecosystem

Blocksquare ($BST) | Ethereum Ecosystem

FX1Sports ($FXI) | Ethereum Ecosystem

HILO ($HILO) | Ethereum Ecosystem

Injective ($INJ) | Binance Launchpad

NeoAudit AI ($NAAI) | Ethereum Ecosystem

Epik Prime ($EPIK) | NFT

Swarm Markets ($SMT) | Ethereum Ecosystem

ALPHA
New Governance Proposals

Sometimes these are pure alpha 👀

Update Synth Exchange Parameters (SCCP 2062) by Spartan Council is in Active Vote | Medium Importance | Posted 15 hours ago