🌊 Wave Wisdom - December 7th, 2023

DATA
Key Prices

BTC $43,229 (-1.38% 24h)

ETH $2,236 (-0.81% 24h)

SPY $458.81 (-0.40% 24h)

DATA
Market Overview

Total Market Cap $1.58T (-0.92%)

Total Volume $66.44B (-28.47%)

BTC Dominance 53.61% (-0.26%)

ETH Dominance 17.05% (0.02%)

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 $5.89m TVL and 35.93% APY

USDC-USDT on Uniswap V2 with $4.07m TVL and 35.18% APY

FRAX (Aggressive) on Vesper with $3.44m TVL and 31.98% APY

USDC (USDC lending) on DeltaPrime with $3.43m TVL and 31.82% APY

MIM-ARBUSDCE-USDT on Beefy with $3m TVL and 26.59% APY

USDPY on Toros with $2.1m TVL and 24.99% APY

USDC-STAR on Aura with $1.87m TVL and 23.12% APY

USDC on HoldStation DeFutures with $1.7m TVL and 22.61% APY

FRAX (Fraximal) on Sommelier with $1.08m TVL and 20.77% APY

USDC.E-USDC on Joe V2.1 with $950,191 TVL and 20.16% APY

NEWS
Talk of the Town

Alright, let's dive into of today's newsletters. We cut through the bullshit and just give you the info you need.

MuxProtocol's Big Win: MuxProtocol is making waves, pulling in a hefty $1.8 billion in volume to the Arbitrum ecosystem in just three weeks. They're being called the '1inch of perps', which is no small feat. They've managed to aggregate liquidity and flow through top perps dex's, ensuring traders get the lowest fees possible. Keep an eye on their Twitter for the latest.

SEC Plays the Waiting Game: The SEC is dragging its feet on the Grayscale ETF decision for ETH, pushing it to January 25th. The market's yawning at this point, but don't get caught napping. This could trigger a sell-off when the decision finally drops.

Coinbase's Messaging Move: Coinbase is simplifying crypto transfers, letting users send coins over messaging apps. Grandma can now send Bitcoin via WhatsApp, which is a big step for crypto adoption.

DeFi's Fresh Crops: Lumerin's peer-to-peer marketplace for hash power trading is one to watch. Manifold Finance's MEV infrastructure project is also buzzing, especially with their new mevETH product now live. And don't sleep on the upcoming projects like Itos Fi, zkAutomate, Opal, Perpie, Merchant Moe, Degen Arena, and Dark Frontier.

That's the rundown for today. Check out the sources for the full scoop.

The Daily Degen Base Daily Crypto News The Humble Farmer's Digest

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: 88 (35.4% 24h Δ)

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

@Bluntz_Capital highlighted a potential 100% move with $SUI, suggesting a strong bullish phase is coming. They also noted a bullish continuation pattern on the daily for $ETH and $ETHBTC, indicating a positive market direction.

@CryptoKaleo echoed the bullish sentiment, predicting another leg up for $FLOKI based on $BONK's performance and noting $BONK's continuous establishment of new all-time highs.

@RunnerXBT seemed to share an optimistic stance, noting that ETHBTC's performance influenced even the Nasdaq and sarcastically commenting on the performance of gaming coins in the ARB ecosystem.

@RektProof boasted about successful trades with $OP, showing a bullish outlook as they anticipate further gains for the asset.

@Tradermayne expressed bullishness on $ETH and shared a sense of excitement about market movements, though he also touched on FOMO and the overwhelming number of trading opportunities in the space.

@Pentosh1, though maintaining a bullish take on ETH, remained more cautious regarding the possibility of a new $BTC ETF, indicating that market reaction remains uncertain.

@Crypto_Chase presented a dichotomy in market sentiment, noting that some traders are starting to short $BTC, while most are cashing in profits — suggesting a division between expectations of a correction and new all-time highs.

The overall sentiment among these ct traders tends to be bullish, with a focus on specific altcoins and sectors showing strong performance, albeit with a few cautious voices not yet wholly convinced of an unobstructed upward trajectory.

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 (0.0% 24h Δ)

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

@TheEuroSniper is fired up about $KATA, eyeballing the token for a potentially huge move but doesn't dish the fucking details. On another note, he's loading up on $ZETA, itching for it to pop off, apparently looking ripe for some action.

@CryptoDet_ is buzzing about $REACH, hinting there's a way to earn some cash through the protocol, but the son of a bitch keeps it cryptic.

@ItsAverageJO is hollering about $RVST, boasting about a deal with zero slippage, throwing shade at $PENDLE for not being able to compete, and hyping up Resonate for big-time investors in Defi.

@thedefivillain cryptically suggests that margin play and any Solana protocol teasing an airdrop might see some volume spike—some sly move or market play is probably brewing.

@BlocksNThoughts drops some alpha of his own, saying $ZETA looks ready to tear it up, and gives a shoutout to @stoic_dao, teasing about a rebound after a healthy pullback.

@CryptoKaduna and @QuantMeta are both feeling bullish on $INJ, pointing to some sort of awakening or season for the token—a signal that shit could get real soon.

The noise is high on $RVST, with multiple mentions. @anger_trading is all eyes on it and @Cryp__toad insists if you take a gander at its potential, you'll see it's just the start of something big.

@ChadCaff is betting on $INSP to power the @inspectxyz ecosystem and is banking on $BANANA to reap rewards from ETH if it leads a surge in on-chain volume.

$SECT gets a brief shoutout from @V2Chenz marking it as a launch to watch out for, and these hunters all see some serious upside in their picks. Gem hunters are tossing around a few other names like $CROWN, $OLAS, $AGRS, and $UNIT, but they're more like side chicks compared to the main squeeze.

Overall, these crypto gem hunters are painting a bloody intense picture—whether it's volume spikes, tech rollouts, or partnership teases, the thread running through is an expectation of some serious gain. Keep an eye on these tokens, because when ct speaks, you listen, or you fucking regret it.

Tokens Mentioned

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

Katana Inu ($KATA) | Gaming (GameFi)

stoicDAO ($ZETA) | Ethereum Ecosystem

Revest Finance ($RVST) | Ethereum Ecosystem

Pendle ($PENDLE) | LSDFi

Injective ($INJ) | Binance Launchpad

ApeSwap ($BANANA) | Decentralized Exchange (DEX)

Sector ($SECT) | Arbitrum Ecosystem

NEWS
New Governance Proposals

Sometimes these are pure alpha 👀

Enhance yETH Governance Voting: Quorum and Decay by Yearn DAO is in Preliminary Discussion | Medium Importance | Posted 3 hours ago

Add a gmLink Cauldron (SAIP 35) by Aura DAO is in Active Vote | Medium Importance | Posted 8 hours ago

CEXs Liquidity Task Force with cede.store (AIP 55) by Aura DAO is in Upcoming Vote | Medium Importance | Posted 13 hours ago

Ethereum V3 USDC Reward Recommendations (Dec. 6, 2023) by Compound DAO is in Preliminary Discussion | Medium Importance | Posted a day ago

Bi-weekly Governance Calls by Aave DAO is in Preliminary Discussion | Medium Importance | Posted a day ago

Nois - Store the Nois Proxy Contract (693) by Osmosis DAO is in Active Vote | Medium Importance | Posted a day ago

Transfer ENS Root Key Ownership to the ENS DAO (EP 4.10) by ENS DAO is in Preliminary Discussion | Medium Importance | Posted a day ago