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  • 🌊 Wave Wisdom - December 2nd, 2023

🌊 Wave Wisdom - December 2nd, 2023

Stablecoin Yields Surge, Curve's Oracle Concerns, USDD's Controversial Ties

gm & welcome to Wave Wisdom, the newsletter that's like the exhilaration of buying the generational bottom and watching your portfolio soar.

DATA
Key Prices

BTC $38,765 (0.46% 24h)

ETH $2,102 (0.42% 24h)

SPY $455.77 (0.59% 24h)

DATA
Market Overview

Total Market Cap $1.46T (0.64%)

Total Volume $38.76B (-19.74%)

BTC Dominance 51.97% (-0.1%)

ETH Dominance 17.32% (-0.04%)

DATA
Chain TVL

Top Gainers (7d)

Terra Classic 281.00%

Beam 49.31%

Telos 37.34%

Top Losers (7d)

OKTChain -19.30%

Radix -17.24%

Waves -16.21%

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

Inflows (7d)

Binance -$1.74b

OKX $173.87m

Bitfinex -$46.03m

Robinhood -$17.07m

Bybit $169.07m

Volume (24h)

Binance $4.616b

OKX $1.325b

Bitfinex $81.03m

Robinhood

Bybit $1.744b

YIELD
Stablecoin Yields

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

USDT on Across with $3.18m TVL and 35.03% APY

VST-FRAX on Frax with $2.26m TVL and 31.04% APY

USDPY on Toros with $2.1m TVL and 28.54% APY

USDC-STAR on Aura with $1.88m TVL and 26.18% APY

USDC (Clearpool) on Idle with $1.56m TVL and 23.61% APY

USDC on HoldStation DeFutures with $1.22m TVL and 22.31% APY

USDT (USDt lending) on DeltaPrime with $1.08m TVL and 21.77% APY

USDT on Iron Bank with $753,420 TVL and 21.16% APY

EUROPOOLLP on Angle with $644,963 TVL and 20.87% APY

DOLA-USDC (Aura) on Beefy with $544,114 TVL and 20.65% APY

AIRDROPS
Airdrop Alpha

Olimpio has created a thread discussing the $STRK airdrop on Starknet - source

Olimpio has also shared a strategy for the Wormhole airdrop - source

Another strategy for the Wormhole airdrop has been provided by CC2 - source

DeFi Airdrops has posted a thread about the Tensor airdrop - source

Kraken has airdropped the 'Bolder than Bold' Fan Livery NFT, a collaboration between Gulf Oil International and Williams Racing, to Grid Pass NFT holders - source

NEWS
Talk of the Town

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

Stablecoins are the talk of the town, and yields are looking juicy as hell. Serenity's deep dive is dishing out the alpha on where to park your cash. Top of the list? Abracadabra's MIM-2CRV pool is killing it with a 68% yield, and it's not just low liquidity; we're talking $3.8m TVL. Not far behind, Magpie's crvUSD is offering a sweet 43% yield with $4.2m TVL, and Velodrome's USDV-USDC pool is no slouch either at 33% yield and $2.2m TVL.

On the broader scene, stablecoin supplies have ballooned by $2.2 billion in 90 days. Binance no longer supports BUSD, Paxos is cozying up with Abu Dhabi for stablecoin issuance, Circle's buddying up with SBI Holdings to grow USDC in Japan, and Aave DAO's sweating bullets over their $GHO depegging fiasco.

Check the sources for the full scoop: Serenity Weekly Stablecoin Alpha

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: 90 (28.6% 24h Δ)

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

@SalsaTekila indicated a bullish stance on Bitcoin, advising not to short and to buy on dips after a flush of open interest. He highlighted the absence of bearish signals on the chart.

@CryptoKaleo shared a bullish perspective on several crypto assets like $APE, $STX, and $APT, anticipating uptrends and advising to buy on dips.

@RunnerXBT mocked bears and doomers, suggesting a soft landing for the economy is mirrored by asset prices approaching annual and all-time highs.

@LomahCrypto expressed a bullish sentiment by sharing personal gains in the market and the potential for helping others achieve financial freedom.

@CryptoParadyme hinted at a bullish view on the market by criticizing outdated bearish arguments and emphasizing the replacement of old financial systems with newer, more inclusive ones.

@trader1sz provided technical analysis without a clear market direction but highlighted key levels and potential setups in various assets including $ETHBTC and $EURUSD.

@Etherean007 showed confidence in Ethereum's strength, despite negative sentiments and a significant resistance at $2100, he appeared bullish on its future.

@Tradermayne displayed aggression toward market sellers hitting $ETH near $2100, and also offered a bullish outlook on $COIN by highlighting a range breakout.

The overall sentiment from these ct traders suggests a bullish outlook with expectations of upward market movements, though they're keeping an eye on resistance levels and potential dips as buying opportunities.

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: 92 (-2.7% 24h Δ)

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

@Crypto_Shaggy is dismissing traditional metrics and focusing on the hype around $ORDI and $MUBI, implying that insider knowledge on Multibit Bridge is driving interest.

@TheEuroSniper finds $MUBI attractive, though he doesn't elaborate on the why.

$BEAM caught the attention of @Cryp__toad who regrets not jumping in earlier, though he acknowledges Mimblewimble tech isn't overly exciting to him.

@crypto_popseye and several others are tagging a community around $BANANA, signaling a collective bullish sentiment. Popseye also emphasizes the genuine utility and revenue potential of $BANANA, expecting it to surge until the bull run ends.

$AGRS is on @Cryp__toad's radar for having significant scientific backing and industry interest, noting its potential and the involvement of leading AI professionals.

@zolandinho narrates a personal showdown between $OLAS and $LINK in his portfolio, betting on their long-term performance.

@Govanisher is about high conviction plays and implies having strong positions over diversification is the key to success.

@KaminoCrypto is following @ChrisRomanoC into $CPOOL anticipating a surge with the lending market heating up.

$TAO is mentioned by @CryptoKaduna with a bullish sentiment, suggesting it could hit 5 digits but expects disbelief.

@ZheBrigadier is gathering more $BANANA, convinced by its performance and anticipating a significant market revaluation.

@anger_trading highlights $RVST for its volume, not diving into specifics, but clearly the volume has caught his attention.

@V2Chenz is enthusiastic about $BEAM, echoing @tombheads' comprehensive analysis and bullish stance.

$CLORE gets a nod from @CryptoKaduna due to its fundamentals aligning with the charts, hinting at an unnoticed opportunity.

@V2Chenz and @ChadCaff are anticipating explosive launches for $SECT and $CAESAR, respectively, demonstrating confidence in their initiatives.

@CryptoDet_ and @QuantMeta stayed vague about their interests, with Det mentioning a desire to "cook" something up and QuantMeta teasing RWA projects' potential.

@anger_trading also took note of $COCKS for its impressive development progress.

@Crypto_Shaggy, @Govanisher, @Cryp__toad, and @defi_antcrypto converged on the potential of $OLAS and $TAO, praising their ongoing and future AI initiatives.

$AGRS and $OLAS are the recurrent themes among several gem hunters, with @TheEuroSniper, @crypto_popseye, and @Cryp__toad discussing their capabilities, suggesting they might form an offensive against centralized AI.

@defi_antcrypto gave props to $AEGIS for its solid foundation and potential to attract grant money.

@ItsAverageJO showed interest in $MOROS, considering the current price dip an overreaction and thus a buying opportunity.

Finally, $BANANA and $OLAS are noteworthy for reaching all-time highs, according to @Govanisher, signaling continued confidence among investors.

Mentioned Coins

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

ORDI ($ORDI) | BRC-20

Multibit ($MUBI) | Ethereum Ecosystem

BEAM ($BEAM) | Cryptocurrency

ApeSwap ($BANANA) | Decentralized Exchange (DEX)

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

Autonolas ($OLAS) | Artificial Intelligence (AI)

Chainlink ($LINK) | Business Services

Clearpool ($CPOOL) | DaoMaker Ecosystem

Bittensor ($TAO) | Artificial Intelligence (AI)

ALPHA
New Governance Proposals

Sometimes these are pure alpha 👀

Consolidate Branding of the Protocol and DAO by SuperRare DAO is in Preliminary Discussion | Medium Importance | Posted 15 hours ago

Stablecoin Allocation by Safe DAO is in Preliminary Discussion | Medium Importance | Posted 16 hours ago

st2024 v1: Lido Contributors Group Request for Grant Funding to Advance GOOSE Goals (EGG) by Lido DAO is in Preliminary Discussion | Medium Importance | Posted 20 hours ago

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.