🌊 Wave Wisdom - December 5th, 2023

DATA
Key Prices

BTC $41,722 (0.24% 24h)

ETH $2,204 (-1.54% 24h)

SPY $455.6 (-0.52% 24h)

DATA
Market Overview

Total Market Cap $1.53T (-0.09%)

Total Volume $75.36B (2.06%)

BTC Dominance 53.18% (0.21%)

ETH Dominance 17.27% (-0.24%)

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

DOLA-USDC on Aura with $5.93m TVL and 53.68% APY

FRAX (Aggressive) on Vesper with $3.29m TVL and 44.79% APY

USDC (USDC lending) on DeltaPrime with $2.1m TVL and 44.16% APY

USDPY on Toros with $2.07m TVL and 42.77% APY

USDC on HoldStation DeFutures with $1.2m TVL and 29.30% APY

CEUR-AGEUR-EUROC on Convex Finance with $694,937 TVL and 24.99% APY

USDT (Clearpool) on Idle with $683,073 TVL and 22.81% APY

BUSD-USDT (0.05%) on Uniswap V3 with $491,544 TVL and 22.50% APY

USD+-DOLA (Velodrome) on Beefy with $381,431 TVL and 21.98% APY

MHRVST on mStable Yield with $353,172 TVL and 20.74% APY

NEWS
Talk of the Town

Let's break down today's newsletters. We cut through the noise and just give you the info you need.

The featured newsletter highlighted five of the most promising decentralized finance (DeFi) platforms and protocols this week for attractive yields: Ambient Finance, Ekubo, Maverick Protocol, GMX, and Pendle.

Ambient Finance offers a decentralized exchange using optimizations for lower fees and faster trades. After a major $80 million funding round this year, an airdrop is expected soon for liquidity providers.

Ekubo focuses liquidity within the Starknet ecosystem for lower costs.

Despite a failed Uniswap proposal, volumes are growing, making an airdrop likely.

Maverick Protocol is conducting a Season 2 airdrop for liquidity providers across chains like Ethereum, Polygon, Avalanche, and more.

GMX is a leading perpetuals exchange on Arbitrum offering liquidity incentives from a large Arbitrum grant. The subsidies make for worthwhile yields.

Pendle is a favorite for yields thanks to improving features and integrations.

For more alerts and strategies around DeFi yields, the newsletter suggests checking out the Humble Farmer Army premium Discord group.

Check sources: HFA Research

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: 75 (-1.3% 24h Δ)

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

@CryptoParadyme jests about a bearish outlook, hinting at a dip to 12k, but takes it back as a joke - playing the part of the delusional bear.

@Tradermayne is ready to show off if the market keeps rising, presumably bullish then.

@CryptoKaleo sees potential for new highs in $GMT and $STX against BTC, indicating a bullish stance on these alts.

@SalsaTekila is wondering if the market’s upswing will continue into Tuesday, revealing a cautiously optimistic side.

@TraderKoz is eyeing a potential long on $BTC if Monday's low is breached, indicating a bullish bias with conditions.

@RektProof transparently bought a bag of #AVAX, looking bullish on the asset for a medium-term hold.

@TraderKoz notes $BTC's dominance and strength as it's up significantly while some alts suffered, hinting at a bullish take on Bitcoin's current trajectory.

@RunnerXBT highlights that the Asian session remains a strong performer for BTC's price, which might be taken as a bullish indicator.

@HsakaTrades points to big moves in certain coins, alluding to market strength and potential bullish setups, albeit with a touch of sarcasm about keeping up with the market.

@Pool2Paulie comments on parabolic movements, suggesting heightened market activity that could be bullish but also hinting at possible overextension with the term "blow offs."

These snippets, in general, suggest a blend of bullishness tinged with caution, a typical sentiment in a volatile and rapidly changing market like crypto.

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 (0.0% 24h Δ)

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

AI-focused tokens are clearly drawing attention with multiple mentions from hunters like @crypto_popseye emphasizing the scarcity of genuine large-scale AI projects with high-level teams and projecting the sector to enter a hype bubble.

@TheEuroSniper listed down his current top picks, notably placing $SDEX as his prime choice, followed by $AGRS and $KATA, hinting at a diverse portfolio strategy with clarity on potential growth areas. He later singles out $COF as a token sitting on old all-time highs, positioning for a surge.

@ItsAverageJO aligns with @crypto_popseye's confidence in AI tokens like $AGRS, speculating a significant rally to come and not just a hated short-lived jump.

@xingalong_ highlights a lesser-known token $BKN with sub 2m circ mc as a solid bet with real-world asset connections and an arrangement with @gotbit_io which could catalyze momentum.

$MUBI gains traction with mentions from @ChadCaff and support from @CryptoDamus411, with the latter also pointing to $EMP as an investment that may not align with the current narratives but still holds potential for high yields.

@anger_trading showcases a bullish stance on $XCEPT, spotlighting the project's potential based on significant technological development and utility for holders, marked by a comprehensive tweet thread detailing its merits.

@Rationalape1 underscores the BRC-20 Tokens Season, recommending $TRVS following the rise of other tokens like $MUBI, $BSSB, and $GHSY.

@Cryp__toad underscores that owning the AI trinity, which includes $AGRS, $OLAS, and $TAO, could potentially yield substantial gains.

For a different perspective, @defi_antcrypto lauds the profitability of $MUBI positions and shows enthusiasm for $DINERO following whale activity, suggesting there could be more upside to come.

@Crypto_Shaggy touched on the influence of $SOL on altcoin strength and signals his bullishness for other altcoins.

@thedefivillain discussed the importance of backing tokens with strong narratives and performance, citing $ORDI and $BONK as prime examples.

Amidst all the bullish sentiment and strategic positioning, several hunters remind us of the significance of solid research and staying informed to avoid "being a maxi" or biased towards a single project.

Mentioned Coins

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

SmarDex ($SDEX) | Base Ecosystem

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

Katana Inu ($KATA) | Play To Earn

Cryptoforce ($COF) | Ethereum Ecosystem

Multibit ($MUBI) | Ethereum Ecosystem

Empowa ($EMP) | Real World Assets (RWA)

XCeption ($XCEPT) | Ethereum Ecosystem

Traverse Labs ($TRVS) |

GHOSTY ($GHSY) | BRC-20

ALPHA
New Governance Proposals

Sometimes these are pure alpha 👀

Routine Incentives Adjustment for December 2023 (692) by Osmosis DAO is in Active Vote | Medium Importance | Posted a day ago

Delegation of UNI to Active but Underrepresented Delegates by Uniswap DAO is in Preliminary Discussion | Medium Importance | Posted a day ago

Increase GHO Borrow Rate 100 bps to 6.35% on Aave V3 by Aave DAO is in Preliminary Discussion | Medium Importance | Posted a day ago