🌊 Wave Wisdom - December 9th, 2023

DATA
Key Prices

BTC $43,827 (0.38% 24h)

ETH $2,357 (-0.41% 24h)

SPY $457.46 (0.43% 24h)

DATA
Market Overview

Total Market Cap $1.64T (1.37%)

Total Volume $68.78B (-2.22%)

BTC Dominance 52.19% (-0.49%)

ETH Dominance 17.24% (-0.3%)

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 50.05% APY

MIM-ARBUSDCE-USDT on Beefy with $3.17m TVL and 42.14% APY

USDPY on Toros with $2.15m TVL and 40.32% APY

USDC-STAR on Aura with $1.87m TVL and 33.97% APY

USDC on HoldStation DeFutures with $1.7m TVL and 32.20% APY

USDT on Bella Protocol with $1.08m TVL and 28.29% APY

USDC-DAI-USDT-ARBUS on Beefy with $784,618 TVL and 21.73% APY

USDT (USDT PSM LP) on Yama Finance with $752,273 TVL and 21.72% APY

EUROPOOLLP on Angle with $710,413 TVL and 21.42% APY

CEUR-AGEUR-EUROC on Convex Finance with $678,675 TVL and 20.37% APY

NEWS
Talk of the Town

Diving into today's newsletters, let's get straight to the good stuff.

The Daily Degen is buzzing about SilentDAO, a new privacy protocol for EVM interactions. It's a big deal for anonymity, and they're opening their Discord this weekend, so heads up. They've also got the scoop on TVL gains across various chains and protocols, with Solana and Kamino catching eyes. Plus, there's a tease from ChainEDGE_io about smart money moves.

HFA Research is all about DeFi's comeback, with stablecoin supply up and Total3 Market Cap growing. They're seeing more action with Ethereum gas prices climbing, signaling more on-chain activity. NFT volumes are spiking too. Cardano's TVL is also on the rise, which could mean it's time to give ADA another look lol

Moni's Edge is talking big moves with Bitcoin breaking resistance and altcoins like $TIA, $JIT, and $SEI making waves. They're advising caution though, with potential "sell the news" vibes around a Bitcoin ETF. They're also highlighting NFT volume shifts, with Bitcoin taking the lead, and DeFi on Bitcoin gaining traction. Plus, they've got early degen plays like Botanix Labs and Talus to keep an eye on.

So, what's the bottom line? Privacy protocols are getting slicker, DeFi's showing signs of life, and NFTs are not slowing down. And as always, check out the sources for the full picture.

The Daily Degen

HFA Research

Moni's Edge

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: 78 (16.4% 24h Δ)

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

@Bluntz_Capital is bullish on $SOL, hinting that it's on the verge of a strong upward extension and suggests there's more upside to come.

@Etherean007 mocks the overreaction bears have to minor price dips, implying that the market sentiment is fragile.

@Tradermayne shares a simple bullish chart on $BNB, hinting at positive expectations.

@CryptoParadyme comments on ATOM's movement, suggesting that related ecosystem tokens might follow suit, showing a bullish outlook for those assets.

@SalsaTekila expresses regret over FOMO trading on high leverage, a reminder of the emotional pitfalls in trading.

@Tradermayne hints optimism for Bitcoin, raising the possibility of it reaching $50k over a weekend.

@CryptoKaleo's "Red coin good coin" remark may imply a bullish sentiment on AVAX.

@Pool2Paulie strongly suggests that the crypto AI trade is currently an extremely favorable bet, showing high bullishness on the sector.

@trader1sz suggests that $PYR is holding well and could possibly take off soon, indicating a bullish position.

Overall, amidst the usual noise and bravado, ct traders exhibit a cautiously optimistic tone, largely bullish on specific coins and sectors, especially AI in crypto and selected altcoins like $SOL and ecosystem-related tokens.

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: 70 (-6.7% 24h Δ)

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

@ItsAverageJO is bullish on $STAMP, noting its significant gains since gaining attention alongside $kevin and $brc in the SRC ecosystem. The difficulty in purchasing these tokens is seen as a bullish sign by the gem hunter.

@Cryp__toad is putting emphasis on $AGRS, suggesting to raise targets for the token. They also hint at a big winner soon to be shared on Base, relating to Real World Asset (RWA) plays.

@ZheBrigadier simply tweeted about $STAMP, reinforcing its visibility among crypto gem hunters.

@anger_trading listed a slew of tokens including $RLB, $WIK, $MONKGG, $CAESAR, $CC, and @BITS888, predicting an "insane, glorious run" for them.

@CryptoKaduna has reshuffled their portfolio, selling $ADA for more of $TAO, $INJ, and $KAS, indicating a bullish stance on these tokens. They also mentioned $TET as a token where patience is key for reaching new all-time highs.

@CryptoDet_ tweeted about peak euphoria in the market, suggesting a potential turning point is near.

@CryptoDamus411 highlighted the potential of regulated tokenization of traditional finance assets, suggesting it's still a good time to place bets in the sector.

@Crypto_Shaggy is playing the patience game with $KREST, anticipating gains once an airdrop date for $PEAQ is announced by @peaqnetwork.

@anger_trading also praised $XCEPT @XCeption_bots as a play not to be missed following a successful demo.

@V2Chenz is eyeing $ROSE, predicting a price target of 0.11 before expecting a deserved run.

@CryptoKaduna also spoke highly of $GMEE, emphasizing its user base, gaming platform, and studio credentials, suggesting a 1B market cap is not far-fetched.

@xingalong_ is excited about the breakout of $GDAG and $KAS.

@BlocksNThoughts is impressed with $CAH's gaming product, noting a 300% breakout last week due to its strong development team and game quality.

@CryptoKaduna also celebrated $INJ hitting $20, suggesting that many friends were skeptical about investing in it earlier.

@Govanisher maintains that BTC will outperform major alts in the near future and only considers rotating to alts after BTC hits 80-100k.

@CryptoKaduna is using profits from microcaps to buy more of $INJ, $TAO, and $KAS, indicating a strategy focused on bigger cap tokens in the future.

@ItsAverageJO highlighted $GDAG's unique use case for token taxes and its impressive $400K monthly revenue, which is notable compared to many higher market cap projects.

Overall, the mentioned tokens show a range of strategies and bullish sentiments, with multiple mentions for $STAMP, $INJ, $TAO, and $KAS indicating a higher interest level among gem hunters.

Tokens Mentioned

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

Injective ($INJ) | Binance Launchpad

Katana Inu ($KATA) | Gaming (GameFi)

stoicDAO ($ZETA) | Ethereum Ecosystem

Revest Finance ($RVST) | Ethereum Ecosystem

Pendle ($PENDLE) | LSDFi

ApeSwap ($BANANA) | Decentralized Exchange (DEX)

NEWS
New Governance Proposals

Sometimes these are pure alpha.

End SNX Inflation (SIP 2043) by Spartan Council is in Active Vote | Medium Importance | Posted 18 hours ago

Flashloans Update by Aave DAO is in Preliminary Discussion | Medium Importance | Posted a day ago

gMAGIC Expansion and Governance Staking Lockup Reduction (TIP 34) by Treasure DAO is in Preliminary Discussion | Medium Importance | Posted a day ago

BGD. Security Budget Request - December 2023 by Aave DAO is in Preliminary Discussion | Medium Importance | Posted a day ago

Add Pudgy Penguins as Collateral (BIP 47) by BendDAO is in Preliminary Discussion | Medium Importance | Posted a day ago

Continuation of Rarible Protocol Transfer to Community (RRC 14) by Rarible DAO is in Preliminary Discussion | Medium Importance | Posted a day ago

ApeChain by ApeCoin DAO is in Preliminary Discussion | Medium Importance | Posted a day ago