🌊 Wave Wisdom - December 6th, 2023

DATA
Key Prices

BTC $43,817 (4.99% 24h)

ETH $2,254 (2.21% 24h)

SPY $455.26 (-0.02% 24h)

DATA
Market Overview

Total Market Cap $1.59T (3.67%)

Total Volume $92.88B (23.28%)

BTC Dominance 53.87% (0.69%)

ETH Dominance 17.03% (-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 $5.9m TVL and 71.55% APY

FRAX (Aggressive) on Vesper with $3.28m TVL and 45.27% APY

USDPY on Toros with $2.09m TVL and 42.89% APY

MIM-ARBUSDCE-USDT on Beefy with $2.04m TVL and 32.40% APY

USDC on HoldStation DeFutures with $1.19m TVL and 30.68% APY

USDT (USDT PSM LP) on Yama Finance with $747,236 TVL and 22.86% APY

EUROPOOLLP on Angle with $710,413 TVL and 21.80% APY

CEUR-AGEUR-EUROC on Convex Finance with $694,884 TVL and 21.36% APY

USDT (Clearpool) on Idle with $683,073 TVL and 21.21% APY

EUROC-USDC (0.05%) on Uniswap V3 with $539,928 TVL and 20.26% 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 Moni Talks newsletter likened itself to Columbus, aiming to discover early crypto insights.

BlackRock and Bitwise are advancing with spot-bitcoin ETF applications.

Ethereum's price seems insignificant given all the projects built on it.

Tokenization of real-world assets is growing in Europe as major insurers purchased green bonds on Ethereum.

Blur constituted 80% of NFT volume amidst increased activity.

Arbitrum plans to distribute $23 million to projects which missed initial grants.

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 (-13.3% 24h Δ)

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

@Crypto_Chase sees potential for $ES to edge up a bit more before a retest lower, eyeing a correction towards 4500, drawing a parallel with $BTC's price action indicating a cautious bullish to bearish tilt.

@trader1sz is keeping an eye on $PYR holding the $7 level, suggesting a breakout might push towards $9.8, but a drop below $7 would be bearish in the short term. His stance on $EURUSD also leans bullish, expecting further upside.

@Awawat_Trades, not without a hint of sarcasm about potential rugs, suggests he's gone long on solestia (SOL and TIA).

@Etherean007 aggressively shoves more into DOGE and then goes AFK, indicating a bullish bet with a laid-back approach.

@SalsaTekila buys the dip on strong performers amid FUD, showing a strategy of leveraging market fear while remaining bullish on selected assets.

@Tradermayne queries the market sentiment—the division between those seeing the top near and the optimists expecting more from the bull run is clear, but no direct sentiment from him is given.

@CryptoKaleo is bullish on DOGE, repeatedly tweeting in favor of the asset, expecting a breakout.

@RunnerXBT sarcastically proposes banning short selling to prevent new ATH before an ETF approval, criticizing those shorting the market.

And finally, @CryptoParadyme suggests a mix of skepticism and bullishness, questioning the sustainability of recent highs but acknowledging the strong market trend.

In summary, ct traders show a mix of bullish and bearish sentiments, with DOGE and other select altcoins receiving positive outlooks, while others maintain a more cautious stance, anticipating potential pullbacks and corrections in the broader market.

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: 55 (-26.7% 24h Δ)

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

@CryptoKaduna emphasized that with Bitcoin dominance cooling off, a lively phase for altcoins is approaching, but remains skeptical if the dominance has peaked. They stressed that to be worth the risk, your altcoin targets should aim for a minimum of 20x, considering that they're dumping BTC for alts, especially favoring $TAO, $KAS, and $INJ.

@ZheBrigadier noted explosive trading volume with $STAMP, highlighting a significant transaction volume in just 24 hours. This sentiment is echoed by @Govanisher, who believes BRC20's era is over and has revealed significant gains from $STAMP due to the pivot to SRC20. It seems like $STAMP is where the money's at, with considerable attention from these hunters.

@crypto_popseye is playing it safe hedging with $KEVIN and $STAMP due to BRC FUD, betting on $STAMP's SRC version for its unprunable nature. Multiple hunters, including @Govanisher, are bullish on these tokens related to ORDINALS and BTC.

@CryptoKaduna's sarcasm-laced advice is to "wake the fuck up" for those targeting mere 5x with $ETH instead of looking at fresher grounds like $KAS.

Joining in, @QuantMeta outlined some compelling arguments for $WNT with grants from giants like Google and Microsoft, and an Arbitrum migration in the pipeline – providing a substantial case for this under-the-radar gem.

@Cryp__toad put his chips on $TAO inflating due to staking dynamics and added $AGRS into the game, hyping it alongside $TAO as the future of machine learning and logical AI, respectively. The talk about these AI-centric tokens isn't just hot air; it's backed by their expanding applications and the behavior in the market.

@Crypto_Shaggy closed his group, suggesting there was a large FOMO wave, possibly referring to members eager to catch up on the recent picks.

@V2Chenz shared a significant update for @PowerTradeHQ's $PTF, potentially positioning it as a token to watch out for in the near future.

@BlocksNThoughts reported on $GDAG being on the move, highlighting a TA plan that stakes faith in the project's trajectory.

As always, take these calls with a grain of salt. Stay switched on, and maybe you will make it with these gems —or not. It's a fucking rodeo out there.