🌊 Wave Wisdom - December 8th, 2023

DATA
Key Prices

BTC $43,655 (1.02% 24h)

ETH $2,366 (5.87% 24h)

SPY $456.91 (0.76% 24h)

DATA
Market Overview

Total Market Cap $1.62T (2.81%)

Total Volume $70.34B (5.93%)

BTC Dominance 52.68% (-0.92%)

ETH Dominance 17.54% (0.49%)

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 $5.88m TVL and 56.81% APY

MIM-ARBUSDCE-USDT on Beefy with $3.04m TVL and 54.16% APY

USDT (Clearpool) on Idle with $2.49m TVL and 48.63% APY

USDPY on Toros with $2.11m TVL and 43.08% APY

USDC-STAR on Aura with $1.87m TVL and 35.18% APY

USDC on HoldStation DeFutures with $1.7m TVL and 33.11% APY

USDT (USDt lending) on DeltaPrime with $1.59m TVL and 31.88% APY

DAI (Clearpool) on Idle with $1.18m TVL and 31.20% APY

USDC (Clearpool) on Idle with $888,526 TVL and 22.17% APY

CEUR-AGEUR-EUROC on Convex Finance with $695,859 TVL and 21.29% 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.

Solana's Airdrop Scene Heats Up Solana's ecosystem is buzzing with airdrop activity. The latest to hit the scene is from the JITO on Solana. If you've been active on Solana, check your eligibility for this airdrop. It's a prime example of the "free money" opportunities that are ripe for the taking in the crypto space. Remember, these airdrops can sometimes be substantial, so don't sleep on them.

Privacy Protocols Making Moves Privacy is a hot commodity, and SilentDAO is working on a middleware encryption layer for the Ethereum Virtual Machine (EVM). This could be a game-changer for DeFi interactions, allowing users to engage with protocols without leaving a trace. Keep an eye on their Discord launch this weekend—it could be the start of something big.

Market Sentiment: A Mixed Bag The market's been a mixed bag, with some chains like Solana and Ronin seeing positive TVL movements, while protocols like Spark and Sun have had their ups and downs. The Bitcoin and Ethereum Fear/Greed Indexes suggest a cautious market sentiment.

It's a reminder that volatility is never far away in crypto.

VCs Eye Decentralized AI Venture capital is sniffing around decentralized AI, with a16z highlighting it as a key theme for 2024. Google's DeepMind has thrown its hat into the ring with Gemini, an AI that's giving ChatGPT a run for its money. This could signal a new frontier for crypto projects focusing on decentralized AI solutions.

Take Profits and Enjoy Life Amidst the market buzz, don't forget to take profits and enjoy life outside the crypto grind. The newsletter reminds us to look after our mental and financial health, suggesting that sometimes the best investment is in experiences and education.

ChainEDGE: On-Chain Analytics in the Spotlight ChainEDGE, an on-chain analytics tool, is getting some love as this month's sponsor. With a recent livestream demo, it's clear they're pushing the envelope on market insights. If you're looking to dive deeper into on-chain data, ChainEDGE might be worth a look.

For more detailed insights, check out the full newsletters from The Daily Degen and Crypto, Distilled

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: 67 (-23.9% 24h Δ)

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

@HsakaTrades criticizes traders for having a short-term mindset indicative of bear market behavior, suggesting a lack of strategic thinking.

@RookieXBT leans bullish, quipping about the persistence of bulls in the market.

@CryptoKaleo indicates bullish sentiment by calling for PEPE to pump back to all-time highs.

@RektProof shared some cautious optimism, closing short-term positions on $Avax for a profit while still anticipating further growth.

@RunnerXBT preaches market unpredictability, with smart traders frequently changing biases, and mocks the community's hesitance to commit to long-term positions or risky plays.

@Etherean007 toys with the idea of timing the market for optimal trades between $SOL and $ETH, though admits to the improbability.

@Pool2Paulie gleefully predicts trouble for bears, suggesting a strong bullish trend.

@TraderKoz is observing the $ETH price action as it hits a significant level and, while unsure of future moves, expresses a desire to see continued price increases.

@Bluntz_Capital shares a strong bullish stance on $SOL and other altcoins, anticipating significant moves.

@SalsaTekila discourages shorts in the current market, implying confidence in continued upward price action.

Overall, the ct traders' sentiments trend towards bullish confidence with a side helping of caution, acknowledging the volatile and shifting nature of the market. Many are enjoying the ride and anticipating further gains, while also being mindful of the unpredictable landscape.

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 (36.4% 24h Δ)

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

@CryptoKaduna is bullish on $INJ, suggesting that the Injective ecosystem could explode with the launch of Mito on mainnet, hinting at a strategy to ape tokens to make more $INJ.

@CryptoDamus411 is eyeing $CROWN, hinting at a real run yet to start with the token priced at 1 United States Dollar, suggesting untapped potential.

@TheEuroSniper is hinting at price discovery for $RVST, suggesting an imminent breakout, and also mentions $SDEX potentially reaching a new ATH with soaring volumes.

@xingalong_ is excited about $KAS, with a significant acquisition of miners and anticipation for a breakout, while also mentioning $GDAG in the context of a potential breakout.

@anger_trading mentions $MONKGG as a token to watch, with integration into a casino and more features to come.

@QuantMeta boasts about the performance of $mnde, comparing it to a lido of Solana and highlighting its market cap growth.

@V2Chenz is keen on $OMNIX, predicting fireworks with the rollout of V1 and ongoing protocol integrations.

@Cryp__toad is bullish on $RVST, comparing it to $PENDLE and suggesting significant growth potential.

@Crypto_Shaggy is curious about the $KAS fork, noting its lower market cap compared to Kaspa and implying potential for growth.

@Cryp__toad also highlights the potential of $AGRS, which has been around since 2015, for those seeking alpha.

@thedefivillain lists a variety of coins either in price discovery or close to it, including $TIA, $JTO, $SHRAP, $BONK, $PRIME, $CROWN, $SEI, $TAO, $PAAL, $KAS, $MEME, $NTRN, $AXL, $INJ, $PYTH, $ORDI, and asks for additional suggestions with a market cap greater than $100M.

Multiple mentions of the same token, especially $INJ and $RVST, indicate a stronger consensus of interest among the gem hunters.

Tokens Mentioned

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

stoicDAO ($ZETA) | Ethereum Ecosystem

Revest Finance ($RVST) | Ethereum Ecosystem

Injective ($INJ) | Binance Launchpad

Chainlink ($LINK) | Business Services

Celestia ($TIA) | Data Availability

LuckyToad ($TOAD) | Decentralized Finance (DeFi)

Katana Inu ($KATA) | Gaming (GameFi)

Pendle ($PENDLE) | LSDFi

ApeSwap ($BANANA) | Decentralized Exchange (DEX)

Sector ($SECT) | Arbitrum Ecosystem